Product / Service Description:
collectAI is a software platform providing digitised, AI-based payments and collection services to manage accounts receivables. Covering the end-to-end process from e-invoicing and payment reminder to debt collection it flexibly optimises the goals of collection rates, costs and customer retention. In addition, the company offers payment links as well as business process outsourcing services. It uses digital communication channels and payment solutions for a frictionless checkout process. collectAI, founded in 2016, is part of Germany’s largest e-commerce retailer, the Otto Group.
Product / service innovations in the last 12 months
We onboarded multiple new PSPs and payment methods such as Computop, Trustly, Barzahlen and many more. Additionally, we launched with a large accounting platform in the Nordics where we integrated our solution as white-label. Our team persistently improves our technology. Recent innovations include communication via messengers as well as improvements to the user experience of the platform's backend.
What is the difference between competitive solutions?
collectAI pioneered in the AI-driven digitization of receivables management in Europe, offering a sophisticated end-to-end service unparalleled by any competitor in our target market. We offer a variety of communication channels covering SMS, messengers, email and postal letters with QR-codes distributed through customized AI-optimized communication strategies. All contact points link to a white label landing page which can be seamlessly integrated into the client’s user experience, featuring diverse payment methods as well as feedback options. In addition to that, we emphasize data protection and work GDPR-compliant with servers based in Germany.
The technology fundamentally improves the customer experience, putting the needs and behaviour of the end consumer to the centre of the service. More than 30 clients from various industries such as banks and utility companies have successfully implemented the technology, many of them improved their KPIs significantly. One example is our client Hanseatic Bank: collectAI’s solution raised the collection rate by 24% and decreased collection costs by 88.6% using our solution.