Curiously, those activities necessary to generate revenue are sometimes the ones that generate more expenses. Such is the case of collections management, one of the most exhausting and labor-intensive tasks. But like any process, its cost can be significantly reduced through the use of technological tools to optimize debt collections.
This is how Artificial Intelligence has gained the confidence of this sector, being a positive change in the structuring of portfolio recovery strategies. It allows increasing revenues to maintain an active cash flow while achieving reducing costs in collections management.
The innovative Collections Virtual Agent tool from Enghouse Interactive
Within our solution there is a tool with which you can automate the process and management between your company and the debtor, it emulates the experience given by an agent, follows the same business rules, and uses the same inbound and outbound contact channels (voice, messages, email, webchat, and mobile applications) allowing you to optimize management processes and make debt recovery more profitable, efficient and productive.
Here is a use case of how a company in the sector implemented the Collections Virtual Agent to reduce costs in collections management, achieve its collection goals and improve its competitiveness.
Increasing useful contact in the contact center
Gescobro is a leading credit management company in Spain. The successful contact with their debtors was not what they expected. That was one of the reasons why they decided to implement our contact center solution, which, through artificial intelligence, analyzes data from different communication channels, contrasts them with the CRM of the collections contact center, and predicts which debtors to call and how to start a conversation with them.
In this way, they were able to increase productivity by 15% – 20% in useful contacts. A complete success!
From agents to super-agents
Everything that can be measured can be improved, but Gescobro didn’t use to do this. Before the implementation of Enghouse, agent productivity was not measured, only face-to-face supervision without any control. In addition, incoming calls were handled at the discretion and agility of the agents.
Once Enghouse’s solution was implemented, the system began to control the working time, pauses, and ACW of each agent, eliminating the idle time of each one of them, increasing the number of calls attended, and decreasing the abandonment rate.
That resulted in an increase in productivity and a decrease in operating costs of up to 20%.
As you can see, the implementation of a specialized tool such as Collections Virtual Agent is a profitable investment, since it promotes reducing costs in collection management, balancing finances, and increasing your company’s income.
To learn all the details about how Collections Virtual Agent works and the benefits you will get with its implementation, just click on the button.
Sourced from: Enghouse Interactive. View the original article here.
