With the tough economic times financial institutions are seeing a greater volume of unpaid accounts, longer delinquency periods and an escalation in broken promises as consumers battle to meet their monthly payment commitments.
The latest statistics from the National Credit Regulator (NCR) reports that 9-million consumers have impaired records, meaning that firms are becoming desperate to find better and more effective ways of collecting debt. Aspect Software warns that if the correct technology is not being used within an organisations outbound contact centre, then the loss of funds could potentially run into the millions.
The collection of payments is a sensitive process and the way that it is handled has a direct impact on brand reputation and customer satisfaction. Having the right outbound contact centre helps to move debtors into paying customers whilst preserving the positive relationship between your customers and your brand. Henry McCracken, regional sales director for Aspect Software, a global leader in customer engagement says, “If your contact centre is not running efficiently, you may not only lose financially but could potentially be damaging your brand reputation in the long run.”
In order to ensure long-term financial stability and growth, outbound contact centres need to be equipped with the right tools whilst keeping in mind that not all contact centres operate from a single location. This means that organisations need to implement unified processes and procedures across all their offices by installing the right software to increase debt recovery.
Contact centres have developed significantly with the launch of cloud-based solutions that have been designed to reduce the cost of unnecessary agent call time. These technological advancements provide an automated debt collection solution to connect your business and customer via a range of channels.
“What makes these solutions unique is that customers are encouraged to action their outstanding payments via a safe and secure gateway resulting in a positive interaction for your customer and your business,” explains McCracken.
When choosing a software that is best suited for your business needs, McCracken strongly advises keeping your customer top of mind. “Although you need a solution that is best suited to your business needs, you also need to ensure that you are offering a pleasant experience for your customer as this will enhance the probability of a successful transaction and payment.”
“By replacing your old call centre model with a collection contact centre system will guarantee profitable exchanges. The automated connection between your business and your debtor saves time and brings all the people, processes and touch points together,” concludes McCracken.