Improving Customer Retention Rates in Auto Sales Workflow

Step 1: Identify High-Risk Customers

Type: Fill Checklist

In this critical phase of the business process, the task is to pinpoint customers who pose a heightened risk to the organization's financial stability. The objective here is to recognize patterns or behaviors that may indicate an increased likelihood of default, dispute, or other high-risk activities. A thorough analysis of customer data and transaction history will be conducted to unearth potential red flags such as suspicious payment patterns, unusually high purchase volumes, or anomalies in return rates. This step also involves cross-referencing customer information with external databases to verify the accuracy of the data and identify any inconsistencies that may signal a higher risk. The outcome of this phase is a list of identified high-risk customers, which will be used as input for subsequent steps in the business process to determine the best course of action to mitigate these risks effectively.