How We Increased Dollars Per Contact Metric 40%

The Ask

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.

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