Equifax Debt Services improves the debt recovery process for Canadian creditors

TORONTO -- Creditors now have a new advantage when managing debt recovery with the release of Equifax Debt Services, a set of interconnected tools and services designed to make recovering money owed easier and more profitable. With this new solution, the debt recovery process from pre-collection through recoveries is fully managed by Equifax, and clients have a clear view of their customers at every step using the intuitive software dashboard.

"Our clients in every industry face many challenges when recovering debt, often stemming from having incomplete or insufficient data on a customer, and from navigating through a disjointed process," explains Rob Durham, Vice President of Sales & Business Development at Equifax Canada. "Our new solution is streamlined with Equifax managing the process end-to-end; customer data is enriched throughout the process, and recovery activities are continuously assessed. Our clients can view and monitor their collections activities and outcomes in a simple dashboard every step of the way."

In other geographies, debt services solutions from Equifax have delivered an uplift of over 30 per cent in the predictive power of whether an account will pay, according to analysis conducted by Equifax in 2014. This can enable greater accuracy and lead to significant cost and time savings. Now Equifax Canada clients can get deeper insight into their customers' ability to pay and use these insights to inform decisions and reduce money and time spent on collecting money owed.

Built with trusted data and insights, practitioner expertise in debt recovery and market leading technology, Equifax Debt Services can help inform the decisions and advance the performance of creditors in Canada.
For more information visit the Equifax Canada website.