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3 telsolutions rob kelly collections
- 1. Can collections be fully automated to become self service?
- 2. Customer Journey – Pushed or shoved to success 2 • Relevant customer behaviour monitoring & tracking in place • Upper and lower control limits agreed to ensure strategies remain within tolerance. • Effective control reporting to ensure all contact strategy remains compliant and optimised. • Customer scorecards, ensuring any customer that behave through automation remain in the cycle. Automatic referral for customer non activity or deviation. • Agents can focus on the challenging cases and removed from the mundane tasks. Huge cost saving potential. • An effective associate incentive scheme that allows agents to maximise opportunity while increasing business revenue.
- 3. Dialler Intensive approach 3 Successful Live Connect 7:00 pm Unsuccessful Answer Machine 10:24 am 8.00 am 12:30 pm 1:30 pm 5:30 pm 6:30 pm 9:00 pm 8:00 pm WORK LUNCH WORK TRAVEL HOME SOCIAL Unsuccessful Answer Machine 4:17 pm Unsuccessful Answer Machine 5:25 pm Unsuccessful 8:10 pm Historic Dialing Historic Call Results Contact Availability
- 4. 4 IVR Dialler SMS NO… You never contact me or call me back NO… Do you read these replies Wrong Channel for Live Agent Engagement? Limited or No Reactive Contact Strategy Lost customer, Lost Opportunity, Lost Revenue If only they would contact me via my mobile Multi-channel Disparate Systems? Email
- 5. Next Generation Breakthrough - INsight Improve Customer Experience • Unified cross-channel communications platform • Preserve conversations across touchpoints • Optimize interactions with personal data • Harness the power of the mobile phone • Leverage customer preferences • Maintain compliance 5 AVM EMAIL WEB VOICE TEXT INSIGHT POST
- 7. Telsolutions INsight Platform 7 Enterprise Management Integration to Telsolutions Engage Multi-Channel Communications Platform Contact Modeling Contact Management Subscription/Event Management Historical Reporting Agent PortalAPIWeb Interface SecurityandCompliance Telsolutions Insight Platform Contact Center Client Data Business Applications Line of Business Clients
- 8. 8 Communications Platforms Telsolutions Engage Telsolutions INsight Telsolutions Engage is a cloud-based, interactive, cross-channel communications platform, supporting: voice, dialler, SMS, email, and web Telsolutions INsight is a dynamic preference management platform which enables intelligent communications. It tracks and manages stated preferences, observed behaviour, and customer profile data
- 9. Filtering for automation 9 Dialog Engine Agent Text Portals Telsolutions Engage Platform provides the tools needed to take full advantage of the rapidly growing mobile messaging channel. Automate wherever possible and equip agents for maximum efficiency. • Self-service in real-time via text messaging • Personalization • Enhanced keyword search • Authentication and RPC • Event Driven • Non compliant actions passed to agents • Real-time visibility to text messages and history • Manual text conversations • Management visibility
- 10. 10 Postage to ePost – Mail Replacement Mobile WebForm Letter replacement
- 11. 11 Letter issuing - ePost Mobile WebForm Letter replacement - Unlike a mailed letter, the customer activity is tracked and linked to event driven follow on activities. - Multiple options for immediate action are available to the customer. - Full audit trail of interactions are available.
- 12. 12 Text to Pay Data from client includes enrolled and not enrolled customers. Payment Processor Your payment to PVDCC is due, to pay by text reply with your DOB in the format DDMMYY
- 13. 13 Engagement Surveys – Enhance Recoveries Simple CSAT Survey for customer feedback automatically.
- 14. Contact Details 14 Rob Kelly Sales Director e: Rob.Kelly@telsolutions.co.uk t: 01279 456 678 @collectionnow Rob Kelly Customer Intelligence Self Service Automatic Collections TEXT CCRI 0779 780 5375 Example SMS/Web *Links valid for CCRI only
Editor's Notes
- Good morning. For the last couple of years we were kindly given the opportunity to present at CCRI and spoke about the new technology service developments available, and how these develop improvements in recoveries. Within the ‘new’ regulator environment, our industry has to be seen as whiter than white, offering all the options to customers and ensure we are always doing the right thing by them. Easier said than done with increased overhead costs, but if we look to other industries there are lessons and methods to be learnt. In particular the retail industry, how they work with customers, achieve high results and keep complaints low. So this year Telsolutions want to talk about the introduction of customer insight tools and how these can fully automate and create self-service collections.
- Retailers have to maintain retail premises, back office customer service operations, whilst now battling the online competitors. To lower costs retailers have moved as much customer contact to a self-service, mobile enabled or automated services were possible. Online self-services in 2015 have overtaken existing methods with retailers, and customers are used to and prefer this method. Retailers especially firms such as Amazon, Dell or Sainsbury’s etc have invested millions to understand customer behaviour. The results allow them to increase sales and direct cost savings. So is full automation achievable in collections as it is elsewhere? We think so if the business has an engine to collate and measure customer interactions and develop and fully automated contact strategy with customers. A full end to end process is easily achievable using customer scored cards and observed customer interactions. The result is a huge reduction in postage and operational contact centre over heads, whilst increased payments and fewer complaints.
- The current business approach is a postal campaign, followed by a telephone or dialer campaign to make contact with customers. Maybe a SMS campaign etc. The outcome of these campaigns very much depends on the data available, the resources we have, time and the customer’s reaction. There are lots of in-efficiencies, wasted communications and cost. We can measure some outcomes, but not all. And how can we gather all the information together to change strategies and get better outcomes next time? The current dialler intensive model needs to change and be reversed to be a part of a much bigger customer insight process picture.
- The other channels we have such as Text messages, IVR, AVM or email for the most part are still operated independently and again achieve results but with a lot of in-efficiencies. The disadvantage of using these disparate services is that customers are all different and react differently. However it is a highly complex task to bring results from all channels together, compare with historic customer behaviour and prepare campaigns that just target what works and rest what does not. And if you could actually see what works, can you score card customers and drop them into a fully automated process removing human interaction and cost? If you do that you could change the dialler intense activity and create service that works around customers observed behaviour just like retailers now do. The results we have seem by implementing this have been a breakthrough.
- To achieve a result that cuts out in-efficiencies you need a customer insight database that sits independently from the CRM and communication channels. As luck would have it Telsolutions have such an INsight service available in the cloud that accepts data from any CRM to determine best individual strategies for each customer based on historic results / behavior and control our unified communications engine Engage with event driven activities. The objective is to automate as many blended proactive communications as possible. Everything is a conversation and if the customer stops that conversation then a process can pick it up again or escalate. Using a similar methodology taken from retail, an Insight database will aid compliance offer better outcome for both the customer internal staff.
- Telsolutions Engage platform is a cloud based communications engine that brings best of bread contact channels and blends these together to allow communications with customer to be cascaded from channel to channel in one strategy. It allows our customers to create collection strategies and contact attempts that progress smoothly through treatments until success is achieved. The results however are just a result of one or a series of events.
- Telsolutions INsight is depository database allows results from customer communications, preferences, outcomes and conversations to be stored for comparison. Even profiles about an individual customer from different client sources can be loaded to compare. Complete end to end contact strategies can then be assigned blending between text / AVM / email / dialer / web / IVR & post. Script-driven passes, then script-based decision making, improving results continually.
- If you can determine what channel the customer reacts to and their responsiveness you can scorecard that customer and place them into a fully automated strategy for self-service and management. This removes the customer from the existing costly hit a miss methods. Bringing in a customer insight database helps greatly with compliance by tailoring to customer preferences. The result is improved customer experience and few complaints.
- Self-service and full automation will not suit all customers, but the advantages are clear in terms of cost saving if you identify customers that that adhere to rules can be placed into an automated cycle. Like a leading edge retailer, this is leading edge in terms of collections allowing your business to stand out. Build trust with your brand to create intimate relationships through real-time decisioning and on-demand interactions. Lower cost by automating the collection dialogue immediate engagement of broken or bad conversations via dialer
- Unlike post that anyone can pick up and read, this secure letter delivery not only is more compliant, but offers options to the customer for interaction. The activity is monitored and event based activities controlled by Engage. Even if the customer does not do anything, you will know and rules based decisioning can take over, escalating to an proactive outbound reminder or dialer etc. This turns the existing method of expensive post with delivery into the mobile channel that the customer is used too and can interact with at a fraction off the cost and time.
- Offering customer choice get the best results. Even if the customer does not have smart phone once you build trust with a customer there is no reason why you cannot place them into an automated process. PRESS FOR ANIMATION Using simple Text 2 Pay with Telsolutions, customers with existing pre-registered card can make payments using a series of text messages, Removing the agent from the process and again if the customer falls out of the parameters set within INsight and Engage the account can be escalated.
- The FCA require firms to survey customer and to check how the customer feels about the service. This is not a box ticking exercise but is generally a very expensive to implement correctly. So finally a process automation with mobile surveys and outbound AVM / inbound IVR, customer feedback and satisfaction can be done automatically and registered with the customer. The Insight of learning what your customers feel about you in our industry can feel like a negative thing to do. But where we have introduced this on the end of a collections campaign we have been able to improve the business process and gain valuable process and efficiency savings.
- In summary it is possible to implement with relative development a fully automated collection process without rebuilding our clients business. Real-time automated decisioning using Telsolutions Engage & Insight has helped our clients target and effect contact performance. It will have a significant impact to reduce cost per contact and remove wastage. Agents become reactive to event driven decisions and not involved in the mundane hit and miss dialer activity. Thank you for listening and if you would like to know more about Engage and Insight we will be happy to speak you after the presentation.