Ohad Samit

TrueRecord is a machine learning based digital first collection service.

We built our own system.

You can think about it as an almost completely automated marketing and sales campaign for debt collection.

So if somebody owes you money as a company,

For chargebacks, returns, loans, and so on, you come to us.

We work with them.

We do it in a way that gets better results and leaves them positive about your product and about your brand.

We have a net promoter score of 60.

People really appreciate it.

It's a whole new world, very different than the old model of doing debt collection.

Well, the first thing you want to do is you want to retain the consumer, right?

You want to talk to them.

You want to see if it's a temporary.

But if you sent them a product, they're not paying, their card is expired, they don't really want to pay.

At some point, you need help with that.

You may want to try to reverse the chargeback, work with your bank, but a lot of these things don't work.

And then eventually you need someone to go and try to actually get them to pay you for what they owe you.

And you either do it in-house and you build your own team, you start calling people and try to build this whole infrastructure, or you work with someone that you trust.

It's going to be a good experience for the person owing you money.

But then again, be very successful in reaching them via email, via other digital channels, negotiating with them a payment plan or something that's working for them to actually get you paid for those charges and returns and the things that you're owed.