Default — 5 Techniques to Avoid Debtor Customers

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Non-payment is one of the main problems for companies in any segment. This is exactly why thinking about strategies to reduce default is extremely necessary. But, in this context, what measures need to be taken?

In this article, you will discover the main strategies to reduce non-payment rates and thus guarantee your cash flow. Enjoy reading!

After all, how can we reduce default?
Knowing how to locate debtors is essential to iran number dataset your company's financial health.

The good news is that there are several ways to reduce default rates, ranging from efficient communication to the use of high technology. Learn about the solutions below and start applying them:

1. Credit analysis
Carrying out a credit analysis is one of the main solutions to avoid defaulting and making concessions with less risk.

To do this, you need technology that cross-references registration data and consumer scores on purchases and payments. Detailed information helps you make the right decision about your consumers’ potential.

TargetData is a company that uses artificial intelligence to acquire and organize useful data to facilitate the entire credit analysis process. This is possible with some services, such as:

credit score;
positive registration – monitoring of customer payment history.
2. Data management
Imagine that you have a client who owes money and, when trying to contact them to collect the payment, you discover that the telephone number provided was incorrect.

Therefore, efforts to reduce defaults also depend on a good database . This means investing in updating and cleaning information, such as checking whether customers' addresses, telephone numbers and e-mails are still the same.

With TargetData your company can maintain an intelligent and optimized database to guide your business strategies.

3. Direct and constant communication
Building relationships with customers brings many benefits, one of which is reducing debt. Being close to your audience increases their engagement with the company, reducing default rates.

To improve communication with your customers, you have the option of using a mailing list to send SMS, email marketing, direct mail and telemarketing. You can also find these solutions at TargetData!

4. Agreements with customers
Reducing default rates also depends on the facilities offered to customers. Always be willing to make agreements to settle debts. More than that, when contacting consumers, be clear and flexible.

5. Monitoring deaths
Last but not least, death monitoring is a fundamental technique for those who want to avoid debtors. After all, one of the most used strategies by fraudsters is the use of data from deceased people.

TargetData has the most complete death registry in the country and all data comes from official bodies. In addition, we offer all the strategies presented in this article.