Collections A comprehensive end-to-end solution for collecting outstanding revenues

Read More

Improving the cash-flow of our clients’ businesses

Sigma offers a range of credit management services for collecting debts, from early-stage collections to late-stage collections, panel management and debt sale brokering. Some clients appoint us to manage the entire end-to-end process. In contrast, others will utilise different aspects of our service offering in line with their internal resource to deliver outstanding results.

Services typically involve, the provision of dedicated teams of specialist customer advisors conducting a range of outbound and inbound dialling campaigns – but are always tailored to meet each client’s requirements.

Early arrears collections

Our core service offering, is the provision of a dedicated team of Customer Advisors, that are specialists in collecting revenue at an early stage of the arrears process. The bulk of our work in this area is conducted on behalf of Energy utility companies, and is done so, on a ‘white label’ basis.

The current economic climate has negatively impacted many consumers financially. Our specialist teams are equipped with the skill set required to, identify and manage customers that may be vulnerable or are suffering financial hardship, so that the outcomes and resolutions provided are appropriate.

Benefits:

Collections Performance - We have had considerable success for our clients achieving up to 30 times Return on Investment and making a significant contribution to helping them achieve internal budgets and targets.
Customer Satisfaction –Our Customer Advisors are focused on ensuring that customer outcomes are always fair and appropriate, and that the customer’s journey is positive at all stages of the collections process. As a result, we have consistently improved NPS figures for our clients versus internal collections teams.
Flexibility –Each contract is bespoke, we work with our clients to tailor our service delivery to meet their exact requirements. Together, we consistently develop and improve the service and react quickly should changes need to be made or rolled out (for example, updated staff training or product development).

Ad-hoc revenue driving campaigns

For many reasons, some customers may not engage during the early arrears collections process, but that does not mean that these customers’ accounts should be written off. On the contrary, a targeted and professional approach to these accounts can yield positive collections results. At the same time, ensuring that customers are treated fairly, that payment arrangement is appropriate and according to each customer’s circumstances.

Sigma is experienced at managing expert panels of Debt Collection Agents who specialise in collecting different types of debt. We assemble, audit, and performance manage panels on behalf of our clients, ensuring that the customer journey is at the forefront of any collections process.

Typical campaigns we have worked on include:
Dedicated “Problematic” area campaigns
Contacting customers who have not been billed for a period of time
Contacting customers who are either in the process of leaving or have already left with outstanding balances
‘Pre-bill’ contacting of High Invoice customers to prevent bill ‘shock’
Pre-alerting Direct Debit reassessments
Courtesy calling customers with previous late pay history
Outbound meter reading campaigns
High balance debt accounts, litigation assessment

Benefits:

Revenue generation – We have had significant success in helping our clients reduce debt levels and boost revenue
Complaint reduction – By engaging with customers early in the billing process, we have been able to reduce the volumes of customers’ complaints often caused by “Bill Shock” or Direct Debit reassessments
Customer retention – Campaigns are highly targeted and focused on engaging and communicating with customers. The result is a reduction in customer churn.

Late stage panel management

For a multitude of reasons, some customers may not engage during the early arrears collections process but that does not mean that these customers’ accounts should be written-off. A targeted and professional approach to these accounts can yield positive collections results whilst at the same time ensuring that customers are treated fairly and that payment arrangements are appropriate given each individual customer’s circumstances.

Sigma is experienced at managing expert panels of Debt Collection Agents who specialise in collecting differing types of debt. We assemble, audit and performance manage panels on behalf of our clients, ensuring that the customer journey is at the forefront of any collections process.

Benefits:

Collections Performance – Sigma’s panel management services typically deliver an uplift in performance of between 15 and 20% over internally managed DCAs
Quality Assurance –DCAs are audited and selected based on their experience and expertise within particular debt segments
Robust MI – MI produced delivers timely and accurate feedback regarding the late-stage collection process. In addition, forecast recovery curves can be used to help with budgeting.

Debt sale brokering

Many businesses may choose to sell their debts at varying points along the collection’s lifecycle. This in itself, is an opportunity to generate revenue within a short period, compared to utilising a long-term internal and external collections strategy.

Sigma has considerable debt purchase experience as both a buyer and a seller and can help with the sale process: segmenting, scoring and packaging debt portfolios; approaching potential purchasers; handling and negotiating the debt sale.

Benefits:

Behavioural Scoring Engine – Sigma has a sophisticated scoring engine and an in-house data analytics and pricing team. This helps to ensure that the sale price is maximised for the seller
Eases the sale process – We will manage the entire process, freeing up valuable internal resources
Speed – The sale process can be completed quickly; within 4 weeks

Related Content

Other Services