Predictive Dialers with Vertical Dialing Increasingly Used in Debt Collections to Drive Effectiveness
July 11, 2008
In the course of normal, everyday business, debt collection agencies tend to evoke reactions in consumers that are somewhat skewed by the fact that these organizations are charged with the task of getting bills paid.
In reality, these agencies are a needed business operation that like most organizations, seek to reduce operation costs and drive efficiency in a highly competitive market. The same can be said for those operating in the credit counseling arena – a less feared, yet still vital operation.
In the quest for maximizing efficiency and controlling costs, many of these organizations have turned to the increased use of predictive dialers with vertical dialing features. In layman’s terms, vertical dialing allows for the calling of the person’s home, then cell, then work to ensure a connection is made.
While there are several solutions in the market, the Predictive Dialer in Vertical Dialing Mode from Five9 has been proven to increase agent productivity by as much as 300 percent, while allowing the contact center to focus their outbound campaigns on top-priority collections targets.
The company’s blended call center solution allows the contact center to leverage automated list management to ensure that the information captured for contacts remains current across all operations. Such an approach not only delivers better efficiency, it also helps the center to remain compliant with rules and regulations within the industry.
The use of predictive dialers with vertical dialing are an essential tool within these specific industries as the inability to reach a contact within a timely manner prohibits or even prevents the ability to collect on a debt. Without collecting on the debt, the agency cannot be paid. The longer the agency takes to make contact, the more it costs the agency to collect on the debt, pushing down profit potential.
Credit management and debt collection agencies continue to face rising complexities. Combine this will increased regulatory pressures, global operations and the rising demand for client service, these agencies are facing increasing obstacles to efficient and productive operation. Turning to companies such as Five9 ensure that such agencies can focus on performance in the outbound call center.
Five9 has built a reputation by delivering contemporary call center technology and pre-integrated CRM applications for financial groups including collection agencies, credit bureaus, billing organizations, insurance companies and mortgage service providers. The company’s solution is specifically designed to address the needs of this industry, thereby increasing its effectiveness and extending its value to the customer.