Callcredit Blog

Using tech to boost the personal touch

Collections & Recoveries

As another part of our Real World Thinking initiative, we offer some tried and tested ways of using smarter working practice and technology to improve the customer experience.

According to Forrester, 72% of businesses across the board say that improving the customer experience is their top priority.

Now, obviously the global big hitters set the bar high. But this means customers expect the best from everyone they deal with, so every company has to deliver.

And there is certainly a role for technology to play in the Collections industry to help you engage with your customers more effectively, and provide a sensitive, respectful experience they can respond positively to, which will ultimately help them work towards repaying their debt.

So, here are our top tips for harnessing technology to improve the customer experience:

1. Make it KYC every step of the way
It’s a golden rule of business: the more personal the service, the better the service.

But, did you know that according to the 2016 Microsoft State of Global Customer Service Report, 72% of customers now expect agents to know their contact information and service history as soon as they engage with a company?

In other words, service needs to be ultra-personal from day one.

In the Collections space, a personalised approach means a customer will be more positive and engaged with the debt recovery process.

So, we recommend tracking customer interactions with your website and through your agents – making sure the information you’re providing is customer-specific and isn’t simply a repeat of what they’ve already seen.

Really getting to grips with a customer’s financial situation is also key.

By using data models and bespoke scorecards, you can segment and profile customers, optimising your contact strategy, and increasing the likelihood of engagement, as well as gauging their propensity-to-pay.

2. Always manage your emails effectively
There’s definitely still a role for email as a reliable communication channel, especially in customer relationship or case management settings.

However, many organisations struggle with inefficiencies, quality of responses and compliance when dealing with customer emails.

The answer is an effective email management tool which automates responses, distributes work to the right teams and makes sure customers get a fast and personalised response every time.

If you integrate email management with other communication channels, you will also start building a complete picture of a customer’s contact history which can obviously improve the customer experience across every channel.

3. Let your customers DIY
Web self-service platforms empower customers to find the information they need such as a view of statements and outstanding balances quickly and conveniently – delivering improved customer experiences and user journeys, all the while reducing escalations and inbound enquiries to your Contact Centre.

These user interfaces can match your branding, fitting invisibly into your website and encouraging customers to solve their problems online (whether that’s via desktop PCs, tablet or mobile).

4. Embrace the rise of AI
Alternative customer support channels like chatbots driven by AI have come a long way and the best ones can now deliver such a seamless customer experience that you wouldn’t know if you were communicating with a computer or a human.

They can not only respond to requests and questions, but also spot if the customer is confused and then seamlessly hand the conversation over to your live customer support team.

This may all seem a little ‘Tomorrow’s World’ at the moment, but many companies see AI playing a significantly increased role in the near future.

5. Data driven automation
Technology can help Collections agents be much more proactive. Instead of having to run manual exports of your customer data and assign individual contact strategies a system powered by machine learning and business process workflows can automate this process.

Programme the send of pre-written texts and emails to those in arrears and then track their interactions. By setting rules and monitoring engagement the system can then escalate cases to contact centre agents or your field team at the appropriate time.

If you’d like to know more about how we can work with you to help transform customer experience, email Or, to receive an exclusive copy of our Real World Thinking report when it launches in October, sign up using the link below:

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