Collections

Collections How we delivered and consistently improved performance on early collections for a client. Contact Us
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Overview

How we delivered and consistently improved performance on early collections for a client.

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The challenge

During periods of high customer call demand our client regularly moved resource from collections to front line customer service to ensure they were able to answer calls within their SLA. This meant that collections activity often suffered as it was believed to be less urgent.

In order to ensure collections activity wasn’t compromised, our client asked us to set up a referenced team of collections agents in South Africa, with a small satellite team in the UK, that would focus solely on early collections work, both inbound and outbound.

This would also give them a benchmark against internal performance.

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The solution

We started by focusing on recruiting the right people training them thoroughly before they started in their role and then providing ongoing personal development as they started delivering.

Launched within just six weeks, the project initially included eight full-time employees. Now all the client’s collections are outsourced with over 100 agents.

Using a seamless, cloud-based IT system also reduced costs and allowed agents to ‘work from anywhere’, meaning work can be delivered by agents whether at Home, in an office, in the UK or in South Africa.

Finally Sigma introduced an omni-channel solution for the client, introducing voice bots, SMS, IVR, interactive voice messaging and emails.

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The result

Sigma Connected were able to outperform previous collections teams due to the lower operating cost in South Africa (typically 50% lower than equivalent UK).

Unlocking better performance through the use of technology, the client is now able to operate at maximum efficiency. We have been able to deflect between 5% and 20% of calls to voice bots, which has freed up agents for more valuable conversations.

Introducing a two-way SMS strategy has also increased right party contact by 50% compared to a voice-only strategy.

Similarly, email allows for cost effective communication, and embedding letters and links to information has ensured customers are clear about consequences and the help available.

Interactive voice messaging has dealt largely with smaller debts, leaving agents free to collect larger debts. Using IVR as part of the omini-channel strategy has resulted in contact being handled without the need for agent intervention.

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