TeleCollect
TeleCollect is a unique call centre service designed specifically to enable a more cost efficient method of collecting overdue or outstanding debts, including the typical process of sending standard monthly reminders to all customers. The service combines the powerful payment predictions of the Fraudscreen codes with the immediacy and flexibility of telephone contact to deliver an immediate, positive impact on revenue streams and cash flow.
By creating a bespoke colour coding signature that assesses likelihood of payment and combining this with the value of outstanding debt and collections/dunning phase, a segmentation is created that drives tailored scripts and payment options/incentives to encourage response. As much customer service as collections, TeleCollect has a vital role to play in maximising revenues whilst Treating Customers Fairly (TCF) and responsibly.
The TeleCollect service is made up of four parts:
- Fraudscreen codes
- Telephone scripts
- An offer
- A call centre provider
TeleCollect segmentation can be used to identify either whom to speak to – a selective process to make contact strategies more efficient, or to identify how to talk to everyone. TeleCollect is used by our clients to successfully collect outstanding revenues, not necessarily in arrears, in advance of when the revenue is due and/or faster than the timeframe the client is contracted to.
Our clients typically use TeleCollect to:
- Reduce arrears by pro-active customer contact prior to missed payment.
- Improve cash flow and reduce the cost of money.
- Reduce print and mailing costs from invoicing/dunning processes.
- Increase payment values and speed of payment.
- Increase the speed of product shipment against paid instalments.
- Write off debt sooner from the worst segments.
- Increase revenues by cross/up-selling to the best segments.
- Maximise collections rates immediately prior to charge off to DCA or Debt Purchase organisations.
- Identify likely non-payment and ensure accurate records are in place in preparedness for collections.
