When customers don’t pay their bills, it can be a major drain on a business. To collect unpaid bills, creditors have long relied on credit control specialists who use techniques like outbound phone calls. But that’s 20th-century technology, and Dimitri Raziev (BCom’09) spotted an opportunity to modernize the approach. Raziev co-founded Kolleno, an accounts receivable management and credit collections platform that communicates with debtors through multiple channels, and uses artificial intelligence to determine the optimal time, tone of voice, and communication channel for each individual.
In an article in Forbes.com, Raziev told Prof. Karl Moore that the software’s automation of payment dynamics monitory can save nearly 35 per cent of working time, as compared to manual monitoring approaches.