Our client approached us with a concern regarding the low Dollars Per Contact
(DPC) metric in their collection process. They were facing challenges in efficiently
recovering outstanding balances from customers more than 30 days past due,
leading to missed revenue opportunities.
The Solution
To address the low DPC metric and enhance revenue collection efficiency, we
implemented a comprehensive solution tailored to the unique needs of the client.
Our approach encompassed various strategic components:
Data-Driven Segmentation: We analyzed customer call data to segment the call drivers received based on payment history, outstanding amounts, and engagement patterns. This enabled us to realign and focus our agent approach to be more effective
Customized Uptraining Strategies: Leveraging the segmented data, we devised tailored uptraining strategies for different customer segments. These strategies encompassed a combination of introducing personalized payment plans, improving negotiation techniques, rapport building, empathetic communication, and handling challenging conversations. This equipped them to navigate delicate financial discussions more effectively.
Automated Payment Reminders: We recommended and helped our client implement an automated system to send payment reminders via SMS and email, ensuring timely reminders would be delivered to customers about upcoming payments.
The Results
The implementation of our solution yielded substantial improvements in the
Dollars Per Contact (DPC) metric and overall revenue recovery:
DPC Enhancement: The Dollars Per Contact metric increased by 40%, indicating a significant boost in the amount collected per call.
Revenue Recovery: The client experienced a 25% increase in revenue collection within the first quarter of implementing our solution
Reduced Delinquency Rate: The percentage of accounts moving into delinquency decreased by 18%, showcasing the success of proactive outreach efforts and more productive financial conversations with customers.
Valor Global’s strategic approach to revenue collection has resulted
in them leading the enterprise stack ranking. Their data-driven
strategies, creative training and coaching models, and skilled
finance representatives have played a pivotal role in driving our
revenue recovery.
Wireless Telecommunications Client
Through our tailored approach, we not only
resolved the client's low Dollars Per Contact
challenge, but also positioned the call
center as a key driver of revenue recovery.
Our solution improved financial outcomes
and bolstered customer relationships
through empathetic communication and a
focus on employee skill development.
Experience the difference with Valor Global. Our flexible and tailored solutions are designed to meet your specific needs.
Contact one of our experts today and let us help you achieve you goals.
