Finance provider reduces bad debt through software

Hitachi Capital Consumer Finance has hailed its customer management system from Experian a success with bad debt reduced and business intelligence increased.

Hitachi Capital Consumer Finance has hailed its customer management system from Experian a success with bad debt reduced and business intelligence increased.

The credit company, which offers point of sale credit to shoppers on goods such as electronic equipment, jewellery and furniture, implemented Experian’s Delphi for Customer Management (DCM) software.

The analytics software analyses customer records to identify patterns and also has an extensive database of the company’s 300,000 customers identifying customer credit worthiness.

Andrew Davies, head of risk management at the company claimed that the investment will pay for itself in 12 months just through the anticipated reduction in bad debt.

Davies said the bad debt reducing function of the software is vital in the company’s area of business. “There is potentially a lot of risk of bad debt in our sector and it has been a challenging two years,” he claimed.

Meanwhile other customer behavioural information collected by the system will ensure the company provide customers with the right offers.

The roll out of the software harnessed existing IT, which ensured that the initial capital investment was kept below £10,000, said Davies.

“The reason the costs were kept down is because we are using existing technology to receive and send data so it was just an add on,” he said.

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Hitachi Capital Consumer Finance website >>

Experian Group website >>

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