The old rules of the game have had their day

atriga Managing Director Christoph Ruoff: “The use of generative AI in debtor communication reduces costs and significantly improves service quality at the same time. Companies that do not take advantage of this opportunity are missing out on a first-class strategic opportunity.”

From AI to GenAI: an evolutionary leap in receivables management

The use of artificial intelligence (AI) and machine learning (ML) is one of the most significant advances in receivables management. These technologies help to analyze large amounts of data and predict payment defaults. However, these systems largely react to existing data and are based on previously defined rules.

Generative artificial intelligence, however, goes a decisive step further and opens up completely new possibilities: GenAI not only processes data, but also independently generates content and proposed solutions. This gives companies the opportunity to reach their customers quickly, efficiently, highly personalized, highly automated and around the clock. For the first time, GenAI enables a form of debtor communication that goes far beyond the capabilities of traditional AI systems. While ML and AI mainly perform reactive functions, GenAI is proactive and offers dynamic, flexible adaptation to the needs of debtors.

Practical application of GenAI: how atriga helps its clients

In practice, the use of GenAI in receivables management brings about a profound change in processes. Instead of relying on standardized approaches, GenAI creates the conditions for customizing communication and interactions by answering complex queries in natural language and responding dynamically to different situations – in a variety of languages.

One example is atriga’s GenAI-based voice and chatbots, which enable customers to complete a case-closing process in a human-like dialog, for example an installment payment agreement. The bot systems also provide comprehensive answers to queries in a chat or conversation, without manual intervention by the clerk and around the clock.

Such dialog-based systems not only help to avoid payment defaults, but also strengthen customer loyalty through uncomplicated and fast problem solving, as concerns are dealt with directly and individually. This is also important in view of the fact that debtors prefer to talk to a machine rather than a real person about their tense financial situation.

Increasing efficiency through proactive measures

A central problem in traditional receivables management is the often reactive nature of the processes: Measures are only taken once a debtor is already in default. This is precisely where GenAI comes in and enables preventative action to be taken. The technology recognizes potential payment defaults at an early stage and informs customers in advance, for example, that a direct debit is imminent. This enables companies to act not only faster, but also more efficiently.

The future of receivables management begins now

The current economic challenges require a radical reorganisation of receivables management processes. GenAI offers companies the opportunity not only to work more efficiently, but also to reach their customers in a completely new way. atriga is one of the first companies in the world to use and develop this technology, providing its clients with the best tools to compete in an increasingly difficult market environment.

The future of receivables management lies in the use of generative technologies. Companies that now rely on GenAI in receivables management and debt collection can not only reduce costs, but also sustainably increase customer satisfaction. atriga is already showing how this transformation can be successfully implemented today.