Understanding the Scope of the Current Billpay Crisis Through Data
During an economic crisis, having the most up-to-date, relevant data at your fingertips is crucial. You need to know how the situation is unfolding in real-time, so you can respond appropriately.
Our data analysis in 2020 has focused on customer payment data, as we have been helping our utility partners identify which customers are most at risk of defaulting and how best to engage them. As data scientists, we know that data doesn’t lie. In fact, recent late payment data gives us a brutally honest glimpse at how the pandemic-related economic crisis is unfolding – and how it will impact companies.
Knowledge is power, so we are sharing the most significant numbers from our analysis of 2020 late payment data in this handy infographic. We hope these numbers – which we admit are quite startling – can help inform your company’s response to the current crisis.