How can I drive efficiency and reduce the cost to collect while improving customer service?
Reduce the time and resource costs of unnecessary or inappropriate contact by identifying customers who are likely to engage digitally and determining who is likely to self-cure by gauging propensity to pay. By using the machine learning capabilities of Cognition to optimise processes across the collections lifecycle, you can automatically direct each customer to the next best action based on a segment of one, freeing up capacity and improving operational performance.
Reduce broken commitments and increase first-time resolution by offering tailored, sustainable arrangements that are quicker for customers to create independently online. Deploy the Flexys Collaborate digital self-service solution to resolve more early arrears without recourse to expensive letters and phone calls.
The elastic capacity created can then be diverted to where it’s needed most. This can mean more time for vulnerable customers and less time in call queues for those who prefer to speak to an agent on the phone.
At the next stage, reduce the cost of non-productive encounters and make every contact relevant and timely by empowering agents with augmented intelligence, creating a ‘segment of one’ capability that gives context sensitive guidance. Harness the power of machine learning to ensure each debtor’s treatment path is uniquely tailored to them and the circumstances of their arrears. Use the Flexys Collect contact centre solution to bring agent workflow and segmentation into the digital age. The result is more promises kept and more debt collected.
Finally, control the costs of debt collection agency fees by optimising DCA strategy to determine the best allocation for each customer. Use Cognition to send each case to the agency best placed to successfully collect the debt based on cost-effectiveness and appropriate handling