Why AI Could Be The Answer As Companies Chase Down Debt

Any business with a credit and collections function will recognise the “promise to pay” phenomenon. It’s the tendency of customers, when chased by a collections agent, to exaggerate how much they will pay of a debt and how quickly. But while it is a natural human instinct, when confronted by someone making demands of you, to tell them what they want to hear, this makes it difficult for businesses to manage their debts; they don’t really know who will pay what and when.

Irish start-up business Webio, which is today announcing a $4 million Series A fund-raising round, thinks the possibility of confronting the promise to pay problem could

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