Credit Expo 2024: Sustainable debt collection in a changing world

On Thursday, November 7, 2024, a new edition of the Credit Expo was held in 's-Hertogenbosch. During this event, credit managers from various industries gathered to discuss current topics in credit management and debt collection. As a Gold Partner, Ultimoo was present at the Credit Expo, hosting a special knowledge session on Artificial Intelligence (AI) in the world of credit management.

The Current State of the Debt Collection Sector

A recent report by Nibud (the National Institute for Family Finance Information) shows that the financial situation of Dutch households has generally improved. Many people find it easier to make ends meet compared to 2018 and 2022 and feel more in control of their finances. Unfortunately, this does not apply to everyone. Renters, households with lower or fluctuating incomes, and young adults remain particularly vulnerable. If your debtors fall into these groups, they may face significant financial challenges.

Economic pressure has further increased due to inflation resulting from the war in Ukraine and current tensions in the Middle East. Fuel prices are expected to rise further, exacerbating the financial burden on many households. Therefore, a robust accounts receivable policy is more necessary than ever.

Credit Expo 2024: Inspiration and Knowledge Sharing

During the Credit Expo, various speakers shared their visions on current challenges and specific topics within credit management. The main focus of the event was innovation, specifically in the form of Artificial Intelligence.

Ultimoo Knowledge Session: Save 40% Time with Artificial Intelligence

The knowledge session provided by Ultimoo centered on saving time through smart innovations. The core principle is that the time saved is reinvested into high-quality conversations with debtors. At Ultimoo, this is a cornerstone of sustainable debt collection.

The announcement of the workshop was as follows:

Save 40% Time with AI and Avoid the Mistakes We Encountered!

Artificial Intelligence is hot! And for good reason—at Ultimoo Incasso, we now save over 40% in time by using smart AI techniques. This is time our employees can spend on what truly matters: contact with your debtor.

But are you also aware of the risks of AI? If you ask ChatGPT what percentage of its answers are accurate, the response is usually 85-90%. This could mean that 10-15% of your debtors are handled incorrectly. As a credit manager, would you find that acceptable?

Curious about how we use the latest technologies for a more efficient collection process? And how we put sustainable collection into practice? We look forward to welcoming you to our booth!