Nowadays, it has become vital to take care of the financial health of a company, management that expedites the recovery of a debt in an effective way.
But how can this be achieved?
The human capital in these tasks is fundamental, and it will be necessary to surround oneself with professionals specialized in this field. Following an established and clear procedure for debt collection will help you achieve your goals successfully. On the one hand, recovering the debt, and on the other, not least, keeping the customer!
Having complete knowledge is key. As well as a 360º vision of the customer and his debt, following up with the customer and being able to contact him through various channels. These are actions that should be included in any roadmap for successful debt collection.
And to be able to access all this information, contact the debtor in a personalized way and follow up on debt collection, it is essential to provide debt management professionals with the right technology.
How does management software exponentially increase the debt collection ratio?
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Single-agent desktop:
Equipping management professionals with tools that make their job easier is critical. Having all these tools integrated into a single application is the best way to increase their productivity. If this screen also includes scripts adjusted to the different stages of the debt, agents will be invincible.
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Predictive Dialer and Voice Portal:
Artificial Intelligence and Machine Learning are key to automating repetitive tasks. A good agent attitude is fundamental in the collection process and it is difficult to maintain it when a large part of the time is spent on unsuccessful calls.
An automatic dialer that allows customer lists to be segmented and uses different dialing modes to contact agents is key. While ensuring that the agent receives only valid calls from debtors, will increase their efficiency and allow them to focus on those calls that are productive.
Often, the customer only needs – and prefers – a proactive reminder of the debt and will be able to self-manage the payment of the debt through the IVR, without the need to involve anyone else. Operational efficiency and customer privacy are the winning combinations.
- Workflow:
Not all debt collection processes are the same and therefore should trigger different processes. A proactive reminder through different channels, such as email, SMS, or mobile app may be enough for the customer to respond. Identifying actions that trigger other subsequent actions in an automated way such as calls will avoid the agent having to perform this follow-up manually and will increase payment settlements.
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Strategy Center:
Intelligent outbound campaigns, to optimize the likelihood of collecting the debt and see which contacts are worthwhile.
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Reporting and monitoring:
This is important to get a holistic view of Debt Collection in the contact center industry, its results and performance, and how to improve them.
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Analytics:
Increase the amount of debt recovered with BI tools, Big data, Algorithms, Artificial Intelligence, etc.
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Big Data and Machine Learning:
With the number of interactions that are made with customers and the large amount of information that is collected we have the perfect opportunity to learn from the processes and improve them. How? By using the results of the campaigns, to accumulate information and learn from them. The next time you go to work with a new contact list, the system will order it by dialing priority so that it can be executed. This will result in even greater efficiency in response and debt collection.
In short, increased payment agreement ratio, decreased call abandonment, the exponential increase in messages delivered, and overall, greater savings, are the main advantages that a specialized debt collection management software can achieve.
Would you like to know how Enghouse Interactive can help you improve the results of your collection campaigns? Contact us and request your demo now!
