Your omnichannel debt recovery company may be the only thing capable of standing for digital channels in debt collections up to these challenges with you.
A host of legal, technological, and social changes over the last decade – now in 2020 coronavirus – have brought ever-increasing levels of disruption challenge into your business operations for being able to manage debts effectively. Your dedicated team at Omni Debt collections Recovery is prepared with the expertise necessary for today’s changing times; they will help you meet and beat any obstacle that comes your way so that not a single one slips through the cracks!
The world of communication is ever-changing. According to Statista, in the United Kingdom, 31% prefer the phone for customer service and 26% email while another 26% live chat or have it as their only option, but that’s not all! PEW research shows indebted populations rely more heavily on mobile devices than other income levels, which can be a headache when people are constantly glued to their screens, making them unavailable even with simple texts. Those messaging apps like WhatsApp mean we’re always available no matter what device we use, so this has opened up new ways individuals communicate, including texting.
With the rise of SaaS solutions, social networks, and notifications, and multi-channel marketing methods, including email campaigns, many other functions can be handled with one quick response. Customers expect an agent or company representative who knows about them no matter how they have contacted before.
Sometimes even after you have paid off a debt, the company still calls. But this is not good for either party! If they call again and complain about it, then your complaint will go on their records, making them look bad to other customers in the future. Plus, with our agents being occupied by these complaints instead of working on real cases that may be more pressing than yours because, of course, people don’t like when debt collections companies keep contacting them unnecessarily – nobody has time for that!
Your debtor might feel violated or annoyed if an agency keeps calling without reason, so try and avoid making anyone upset with an unnecessary phone contact.
The debt collections industry is in a tough spot. They have to abide by stricter Offcomer regulations while also worrying that GDPR laws will cost them up to €20 million or 4% of their annual turnover if they are caught violating the rules.
The number of ways to communicate with your customers has increased significantly in recent years. Omnichannel contact centers mean you can be contacted through social media, phone, SMS, live messaging, and email, as well as a chatbot or a web RTC click-to-call functionality, enabling 100% of your customer base the chance to get in touch on their preferred channel. Furthermore, with more channels available, it is easier for businesses to offer what best suits each individual’s needs rather than being limited by one option only, such as telephone conversations which are declining thanks 31%. In this way, there will always be someone happy at all times!
SMS helps debtors get the terms and conditions interactive to make their own decisions about what to do. This is done with secure login forms that allow collectors to save time during calls and analytics available for better customer service.
The ability to track debtors across all of their channels, continue conversations exactly where they left off and strategize with them in one place is invaluable when it comes to recovering money. You don’t want any more customers who have already paid you back contacting you again or trying to get a payment plan set up without your knowledge. With the insight into how much someone owes, whether they’re punctual and pre-delinquent levels, there’s no doubt that this will help keep people on track for repayment!
The ability to monitor customer interactions with a 100% success rate for sentiment, mood, and emotions expands into helping companies comply with regulations. In addition, machine learning can give these agents training on how best to respond in conversations that may be difficult or otherwise require more finesse than the average conversation.
Interaction Analytics is a powerful tool that can identify customers who are struggling with their financial obligations. The software combines data from various sources, including language and stress levels on the phone call, to create an accurate picture of a customer’s debt situation. If this information isn’t addressed early enough, it could spell disaster for both parties – the debt collections company and the person contacted. Therefore, one should always stay informed about current events. This is especially important for people looking to renegotiate their loans or acquire a new one, as this piece of information may help them get the best possible terms they can hope for in these tough economic times.
AI Chat and Voice
AI Chat and Voice have left contact centers needing to drive efficiency. These new technologies combined with Covid 19 are forcing sudden changes in how we interact with customers and view our service. Our chatbots and voice bots can automate customer engagement through AI conversational experiences-which is a huge help for any business attempting to stay competitive while staying on top of changing regulations in the Covid 19 environment!
24/7, Instant Coverage
Debtors are always on the go and want to do everything they can to avoid their debt situation. It’s understandable why a debtor may find excuses not to deal with it, but now there’s no need for that- even if you’re busy or in transit 24/7, instant coverage is just one click away! With our bot system built into your website (or app), debts will likely be avoided because of how easy we contact them when needed.
It doesn’t matter how much your employees love interacting with customers; they can only take on so many interactions before the company is forced to hire more. Hiring high-quality customer service agents aren’t easy, and it’s costly! A bot will automate a ton of time-consuming work for you while freeing up those important live positions to do what matters most – talk directly with people that need help.
Live Agent Handover
Providing live agents with a handover for debt recovery negotiations is an extremely complex process. Chatbots are not as adept at reading emotion and can miss opportunities to close, so we use our interaction analytics to analyze sentiment. After the chatbot has analyzed emotions, it will warn your employees so they have time to take over before negotiation closes completely.
The Google Cloud Platform is a great voice channel for your customers. With the Voice Gateway, you can enjoy better latency between Google and traditional telephony with seamless integration to any dialer program, as well. This way, it will be able to perform just like another team member on your debt recovery process!
Host COMM’s AI Conversational Experience is the most widely used solution for creating realistic, rich conversations. In addition, our contact center solution ensures that your client’s data is in the safest possible environment.
Hosted Dialer & CRM Integration
Recover an outstanding debt with the help of innovative CRM technology from Hosted Dialer. There’s a lot involved in recovering debts, such as phone calls and hours on hold – but at what cost? Our automated workflow can increase your profitability and improve your debt collections effectiveness by putting admin processes through automation to save you time and money!
The new PCI-compliant payment IVR collection system will make card payments more easily and securely within a call, eliminating the need for costly follow-up calls. One-click to dial directly from customer details held in your CRM reduces errors and increases agent efficiency while logs of these calls made are shown on screen. Clicking ‘add to dialer’ makes it easier to prioritize call activity so that agents can reach their most important goals – saving time by only calling customers whose needs are urgent!
Client Record Pop
The client record pop on inbound and outbound calls is an excellent way to get more information about the customer. This allows agents to be confident, making them a lot better at their job. Also, CRM updates with notes from dialer calls, which saves time by not writing down each note during the conversation. Furthermore, if you have follow-up tasks such as reminding clients of payments or other things, then this app can create reminders for when they are supposed to happen based on dates that were previously set up beforehand too! Finally, SMS messaging keeps your customers happy because it provides quick responses if needed fast without any problems happening along the way.
You can trigger an email or letter automatically. Plus, call recording and advanced search functions to find the recordings that are needed. These also have links in them for a client record on CRM software, so it is easy to track who they need contact with next!
Conclusion: Our company is dedicated to providing the world’s most advanced technologies, and we’re always looking for ways to make your business more connected. Give us a call or send over an inquiry today to show you how our solutions will help streamline operations across all of your devices. With so many changes happening in the last decade, it can be hard to keep up with a changing landscape. But, your dedicated team at Omni Debt Recovery is here for you! We know what it takes to help you stay on top of any obstacle that comes your way, and we’re prepared to do just that by leveraging our expertise necessary in today’s changing times. Click Here if you want us to show how we’ve helped other businesses meet their debts head-on and conquer them like nothing else was standing in their way before!