Ann: CCR Q4FY22 ACTIVITY REPORT AND APPENDIX 4C, page-31

The need for 'Debt collection' is as old as people doing business together. It is a truly ancient activity.
But it has remained stubbornly traditional. Relying on repeated calls / reminders / and then ultimately threats.

Changes to society, technology, attitudes, regulations - have made the traditional approaches less 'effective / acceptable'.

What Credit Clear have done is create an evolving digital approach inside a full service offering - for the domestic market.
And export just the digital approach - to be combined with a service approach (call centre) - in international markets.

There are many variables that go into debt collection:
• how late is the debt - 10 days / 30 / 60 / ...the longer its owed the harder it is to recover
• how much is the debt - small debts will quickly become expensive to chase
• what are the rules around debt collection - covid brought about some leniency - other rules can be changed like when you can call...
• does a company care about reputational knock-ons for 'heavy-handedness' etc
• what is best-practice?
• the role of NPS?

So to navigate all that you need pretty smart tech, and an adaptive approach - its all quite nuanced.

What Credit Clear have achieved in the last year or so - and especially last quarter - is impressive!

• proven they have cracked the code of winning banks, utilities, govt...
• developed a specialised product for insurance (that will now be pushed across that sector)
• demonstrated a growth plan to get offshore
• piled on revenue
• achieved profitability
• and stacked a pipeline
• and delivered a quarterly with lots of metrics to track (like total # clients, total # of handled debtors...)

I would be surprised if they don't provide another business update next month.

We don't have long to wait.