With TDX celebrating its 10th birthday this year, there's a lot of opportunity to look back at the history and evolution of the company; a small business created in a barn to meet a need in an evolving market has now become an expert in the industry.
Over my two years with TDX I've seen the rise of a number of exciting projects that are changing the market's landscape – not just in the UK but also overseas. This is why I am so excited about being a part of TDX's Australian (ad)venture! Last year we launched with Telstra, our flagship Australian client, and we are currently working together to deliver some fantastic results (and we’re already in talks about how we could revitalise their portfolio again) and we’ve recently taken on our second client.
It's easy to rest on our laurels and talk about the performance and compliance benefits that are realised within the first few months of taking on a new client or a new portfolio; but for those who are looking to the future, creating a rich data asset to be mined over the coming years is what makes the real difference. This is how we provide our clients with insight into their customer base post-acquisition which can be utilised not just to boost recoveries and collections, but also to ensure that all customers receive the right treatment depending on their circumstances.
It should come as no surprise that when an individual defaults with a telco, utility or line of credit with a financial institution, other defaults soon follow, as the root cause is often financial difficulty at the customer level. Having a single view of that customer outside of a one client portfolio allows you to ensure that you control the flow of activity to that customer and enables you to make sure that they are treated fairly - protecting your brand whilst also leveraging the customer’s recent contact and income and expenditure information to make the appropriate decision.
This isn’t just relevant to the UK or the Australian market; across the globe, regulations are being tightened and net performance is being squeezed due to increased cost to collect. In this context, technology platforms are a vital asset for making collections and recoveries both cost-effective – and fair for the long-run.
Applying this forward thinking, data-driven approach is what has kept TDX ahead of the game for the past decade, and what I’m sure will lead to a positive future in the Australian market. Whilst TDX's path in Australia differs from the UK, after all the market is different - it would be remiss of us not to acknowledge that we're standing on the shoulders of giants!
By Guy Bourne, Head of Analysis, TDX Australia