News Article

Tracing & Enforcement

tracehunter : Mis-Trace and the trace Industry

By CreditMan Thursday, January 26, 2012

Mis-trace is one of the principal issues of conflict and embarrassment within the trace industry. To give an example, on the 3rd of April 2011 The Telegraph ran an article telling the case of a man who had been mis-traced, even though he was 30 years younger than the debtor, and the trouble he had had getting his name cleared. Every time a story like this hits the media the public perception of the trace industry takes a dent as a whole. The industry has done much to improve its image over recent years, nevertheless mis-trace seems to be a thorn in its side.

Trace has however grown exponentially over recent years, it is therefore positive to know that the numbers of complaints regarding mis-trace has grown little if at all over the same time period. This is a sign of great improvement within the industry, nevertheless the threat of a single mis-trace turning in to a PR disaster is never far away.

Subsequently, what does the industry need to do in order to manage growth in such a way that mis-trace is prevented and damage limited when it does happen, while not being adversely financially affected by extra costs? Simply it is about having the correct process in place to deal with enquires regarding mis-trace as soon as they are made without delay.

There will of course always be debtors who claim to have been the subject of mis-trace when in fact they are the true debtor. This is why it is vital to see trace cases in a succinct, comprehensive and timely manner, allowing quick judgements on the next steps to be taken. Where there is a doubt rechecks can be made and trace agents should be held accountable for their trace practices.

A system such as tracehunter can offer a trace department a new structured, transparent and flexible approach to trace. The system is designed to increase productivity to help manage growth while simplifying trace compliance for the industry.

tracehunter isn’t a data source but a trace hub, which allows total control over all aspects of debtor trace.

tracehunter automatically builds a complete picture of all trace activities, which can be simply reviewed when mis-trace enquiries happen. As tracehunter records all trace activities, trace agents become fully accountable for their actions.