As a leading national repossession management company, we are exposed to a variety of vendor scorecard models. Each model consists of different metrics from recovery performance to regulatory/SOW compliance. Vendor scorecarding is an essential tool for the auto repossession and collateral recovery industry.
Here are four metrics that will make your repossession vendor scorecards more effective. These metrics will take a basic level scorecard to a more developed intermediate level scorecard by tracking voluntary and involuntary repossession results separately.
- Columns for Voluntary and Involuntary Assignments
- Columns for Recovered Voluntary and Involuntary Assignments
- Columns for Average Days to Recovery (DTR) by each category
- Columns for Recovery Ratios (%) by each category
For more information on vendor scorecarding techniques, click here.