Including credit lifecycle predictive outcomes in collections and recovery call centers

In a collections environment, an agent needs to follow up with numerous customers on their outstanding credit and the more distinct information the agent has on each customer, the better the agent will understand who they are interacting with and what the opportunities, risks and expectations of the collections call with the client are.

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What Is A Proactive Debt Collection Approach?

The management of debtors and account payments is often a laborious and reactive process that includes following up with debtors who are in default and don’t want to talk to you. Implementing a debt collections approach that is proactive, could improve efficiencies and result in reduced amount of accounts rolling into delinquency.

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How Coaching Bots Can Increase Your Debt Collection Call Centre Yields

Machine learning and advanced data analytic techniques are often used in combination with behavioural sciences to develop coaching bots. Agent X Virtual assistant for call centre agents is a collections solution that guides and supports agents through calls in real-time, offering them easy access to information and motivates and inspires high performance. This can translate directly to increased collection yields.

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Back-to-Basics: Collections and Recoveries (Part 1)

Collections and Recoveries are the final two stages of the entire credit lifecycle. To understand the collections and recoveries landscape, we need to review the earlier processes.

For this reason, we are first going to touch on the various stages of the credit lifecycle preceding Collections and Recoveries, and thereafter spend time on the main subject of this Blog.

In this Part 1, we specifically focus on the first two stages of the credit lifecycle which are Leads and Originations.

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The Top 6 Ways To Improve Motivation Levels In A Call Centre

Staff motivation levels are an important factor in every business, but even more so in a client or prospect-facing environment such as a call centre. If your call centre agents are motivated, you can expect them to remain an employee for a longer period of time, reducing staff turnover. This not only saves you a lot of resources for recruiting, but also for training.

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