Call Center Debt Collection Solution
Start with increased connections to deal with collections
Trusted by 300+ collection facilities. Your goal is to increase the revenue and recovery rates. Our debt collections solution that has an intelligent, predictive dialer solution that improves productivity by removing wasted time on manual calls or between calls. Your agents get to spend more time on live calls.
Request a DemoExpolore Our Debt Collection Software Solutions
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Call Recording
Call recording to monitor agent performance and improve efficiencies. This can help with agent training, dispute resolution, and compliance.
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Remote Working Ready
Pure cloud infrastructure with multi-location, multi-tenant and work-from-home capabilities. All you need are a functional Internet and a browser.
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Ease of Engagement
All the features are bundled together on a per-minute pricing model. No long-term contracts. No minimum commitments. You pay only for what you use.
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Integrations
Tight integration with industry-leading CRMs, helpdesk software, and other best-of-breed IT solutions. A single view of customers across interfaces.
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Self-Pay Options
Pay by phone or through the website using the providers’ payment gateway. Guided payments using voice messages and IVR systems for transaction ease.
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Custom Dashboards
Analyze real-time metrics and create dashboards. Create and schedule reports for efficient workflow. View your historical data in charts and graphs.
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Reporting
Supports custom report creation in multiple formats. You can segment groups, customers, and processes for client-specific reporting and compliance.
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Voice Broadcasting
Automated Voice Broadcasting (AIVMS) that can be used for customer engagement, promotions, sending reminders, and conducting surveys.
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Lower TCO
Completely managed infrastructure with low entry barriers. No need for servers, data center space, and resources to manage and maintain the platform.
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Dialers
Support for predictive, preview, manual, conditional, and sequential dialing – flexible to use different dialers for different process needs.
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Cloud Migration
Migrate your disparate infrastructure and on-premise solutions to the cloud within 48 hours, allowing your agents to work from anywhere seamlessly.
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Scale Up and Down
Scale up and down the number of agents based on your business spikes at a moment’s notice. You don’t need to provision licenses to add agents.
Optimize Debt Recovery with Leading-Edge Features
We have deployed our platform to 100s of debt collection agencies, and we are one of the leaders in this space. Our platform complies with all call center compliances like TCPA, Reg-F, PCI-DSS, and FDCPA regulations. Our platform’s omnichannel capabilities help provide a single view of all customer interactions across channels.
Features That Help With Quick and Easy Collections
Voice Analytics – Audio mining capabilities that ensure internal quality and compliance with regulations, standards, and specifications.
Revenue Generation – Unlimited capacity, fluid auto pacing, increased answering machine detection rates, broader account penetration, agent screen popups, integration with CRMs, agents answering pre-qualified right party calls, pre-recorded messages freeing up agents’ time, and the option to pay over the phone and Internet portal.
List Management Services – Can pull together data from Excel files, SFTP servers, and client applications. It enriches data by applying rules and priorities.
Want to check how our platform fits your needs
Our Debt Recovery Solution Advantage
Check out all the benefits for your business.
Boost recovery rates
Our predictive dialer is engineered to maximize connections with debtors. Automating the dialing process ensures that agents are only connected to live calls, significantly improving ‘right party’ contacts. With up to 288% increase in right-party connections, you can recover debts faster and more efficiently.
Enhance agent productivity
Our platform optimizes agent performance by minimizing idle time and maximizing talk time. With up to 169% more agent time and a 43% reduction in idle time, your team spends more time engaging with debtors and less time waiting for calls to connect, which leads to improved results.
Optimize resource utilization
It allows you to streamline operations and reduce dependency on a large workforce. With a 44% reduction in full-time employee (FTE) requirements, you can achieve more with fewer resources. This helps lower operational costs and ensures better resource allocation for high-value tasks.
Actionable insights
Our platform provides real-time analytics and reporting, enabling managers to track key metrics like connection rates, payment agreements, and recovery trends. These insights allow you to identify areas for improvement, optimize strategies, and ensure compliance with debt collection regulations.
Compliance and flexibility
Our platform ensures compliance with FDCPA, Reg-F, TCPA, GDPR, and other relevant standards mandated by the debt collection industry. Its flexibility allows you to adapt to changing recovery strategies, debtor preferences, and regulatory requirements, ensuring sustainable success over the long term.
Frequently Asked Questions
What are the goals of debt collections that your platform help address?
Our platform helps address the two primary goals:
- Convert debts into profits
- Ensuring collections without affecting the customer experience, Brand value, and compliance with regulations and RBI norms
How do you ensure collections easily?
Due to the high number of collections, there are many possibilities for lenders to miss. Digitization of the entire process will ensure you don’t miss out on any data points.
Our call center platform helps digitize the entire process.
How do you prioritize your collections using technology?
Our list management services, the data handling solution of our platform, will help you slice and dice the data and bring in prioritization, allowing you to convert debts into profits.
Besides, all the notifications can be automated, and you can implement intelligent nudges without being intrusive.
Also, provide diverse options for your customers to make payments – online, offline, app-based, and making multiple smaller payments.
Most often, we struggle with collecting low-value payments, and the cost of collection cannot be high. How do we address this?
You can use SMS, email, and Business WhatsApp notifications to send reminders to your customers in advance. This would allow collections easier and faster, especially with low-value payments.
All of these channels can be integrated with our platform using APIs. Also, integrate them with digital payment channels allowing people to make payments from their smartphones and mobile phones.
What is considered the ideal cost of a collection? Can you give some examples?
Some say it is 1% of the total value; a few say up to 5% is acceptable.
What is ideal?
Look at a credit card product. 60% of the customers make bill-to-bill payments. About 20% of them make the minimum and part payments. The remaining 20% are defaulters.
Among the 60% that makes bill-to-bill payments, revenue to the bank is through the interchange fee that the payment network pays. In the remaining 40%, you charge an interest rate of anywhere between 33% and 48%, which is compounded. This is a massive revenue for the bank.
In such a product, the acceptable default rates are about 5%.
When discussing a personal or a home loan, the interest rates are in the sub 10%, and the default rates must be lower than 1% to make sense.
BNPL (buy now pay later) model works only on the trust the lenders have in the bureau (CIBIL rating). Most customers won’t default for the risk of getting reported to the bureau, which will affect their credit rating in the long run.
Regulations for collections are becoming strict in India. How do you address compliance with these regulations?
Some of the regulations include:
- You can contact your customers only during the 8 AM to 7 PM slots
- You cannot try to reach your customers more than the stipulated number of times daily
- If you contact their friends or family, you cannot discuss the debt, and you can only discuss ways to reach them
- You cannot send collection agents home who are not DRA-certified
Our platform is ideally suited for lenders to comply with regulations and norms. It is configurable easily, and we are compliant with TCPA, Reg-F, FDCPA, and PCI-DSS
What is the role of analytics in debt collection call center software?
Our analytics can pull out data points of potential defaulters. This would give you a heads-up for your collections process.
How do we do that?
We would segregate the size of the debt – small and large ones. What works for small debt collection may not work for large debts. If the debts are enormous, nudging and calling alone won’t help – you may want to call them for a meeting and figure out how to restructure the debt.
Besides, if a customer has delayed the payment in the first quarter, you can also anticipate issues in the next quarter. You can send nudges and reminders about payments to be made and report to the bureau to ensure they make timely payments.
Related Resources
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