Skip-Tracing

Locating debtors is often the most significant challenge collection teams encounter, as many move or even flee to avoid meeting their obligations. This is where skip-tracing comes into play. This service relies on automated information gathering systems across different databases to find debtors who have moved and left you with no forwarding address. More advanced techniques introduce a second level of manual review via integrated data suites to derive another layer of meaning and insight from the automated results.

Speech Analytics

These systems allow organizations to analyze interactions between collection specialists and consumers by automatically processing thousands of hours of audio recordings in a short period of time. This can provide valuable insights and feedback to help individual team members improve, and also help ensure compliance with applicable laws and regulations.

Digital Engagement

Today’s consumers communicate digitally, and your team needs to meet them on their own terms. Emails and chat work especially well with younger debtors, who may be uncomfortable discussing their payment obligations over the phone. In addition, online access via secure portals allows you and your consumers a convenient vehicle for payment plans and ongoing status updates. Algorithm-based programs can help you tailor these collection strategies to the individual debtor.

Performance Measurement

Metrics that drive performance include call activity, quality of talk-offs, quality of work performed, and collector gross recoveries. These metrics not only drive improvement, but also allow you to establish individual performance goals and develop more accurate revenue recovery projections.

Read more about the additional critical steps you can take to begin increasing your recoveries by downloading our free E-Book: 5 Steps You Can Take Today to Maximize Debt Recoveries.