‘You must pay today. Have you got a credit card on you?’
This traditional, confrontational style is adopted by many collections teams. However, it no longer works – if it ever did.
Our clients have had considerable success working with us to transform their approach. We’ve proven that establishing a trusting relationship with the customer and developing an agreed solution radically improves both the speed and volume of collections. Customers stick to their agreements and prioritise payments, reflecting their increased buy-in to the relationship.
Taking this approach requires commitment, a change of organisational mindset and the skills to have brilliant trust-building conversations. The results can be outstanding.
A financial solutions team in a large utilities company achieved great success working with us to transform the quality of their collection advisers’ conversations. This meant moving the conversation away from the direct, challenging approach to a customer-focused conversation. This helped the customer to open up and talk about their situation. While the advisers are clear about the absolute need to pay, they now agree workable solutions with the client. Results clearly show that customers are sticking to the agreed payment plans. There has been a combined impact of a 15% improvement in customer satisfaction, and a 27% increase in cash collected per hour.
Who will benefit from this programme?
All staff involved in debt collection, and their managers.
This is the only programme I have seen in many years which has actually made staff feel happier about coming to work and staying with us. It is also the only programme where we have seen significant improvements in CSAT and £/head collections which have continued going from strength to strength even when Imparta left the building – which is saying something in financial solutions. Senior Manager, Collections Area, Major Utilities Company
As part of our toolkit for helping our clients improve their collections performance, we’ve recently developed an interactive Customer-centric Collections simulation. To experience for yourself the immersive nature of this simulation, then please contact us for a free trial.