An interactive presentation that highlights the need for running an efficient collections team for faster realization of revenue. This SlideShare also talks about the benefits of Speech Analytics to improve credit collections efforts.

1. INCREASE REVENUE BY
BOOSTING COLLECTION EFFORTS:
SPEECH ANALYTICS
TO THE RESCUE
A CS Approach By Uniphore Software Systems

2. “A sale is a gift to the customer until the money is
in the bank.”
- Nolan Bushnell
Popular US entrepreneur
Founder of Atari and the Chuck E. Cheese restaurant chains

3. Speech Analytics – a digital layer between collector-debtor interactions
Speech
Analytics
Which
words are
effective?
Which
agents are
persuasive?
Chalk out
collections
strategy
Boost
collections
Increase
cash flows

4. An Overview of the
Accounts Receivable
Industry

5. Credit card debt in the US is
ballooning, with a per
capita debt of $61,343
$34.4B
$71B
$27.5B
Largest Q2
debt build
up in US
since 1986
Credit card
debt added
in the US in
2016
Lowest Q1
pay-down in
the US since
2008
US debt
in 2016
INR
7,500
INR
8,700
Outstanding
credit per
credit card in
Feb 2015
Outstanding
credit per
credit card in
Feb 2016
Excess of
outstanding
debt over per
capita income
70K
30K Excess
Income
India debt
in 2016
A similar story is unfolding in
India at a lower scale, with
debt outpacing income

6. Imperatives for
Enterprise Collections Strategy
in the face of rising debt

7. Knowing when
defaulting customers
become solvent …
MONITORING OF ALL UNPAID DEBT
… can ensure
enterprises collect on
debts owed faster and
more easily.

8. Collections strategy is best served by
identifying the accounts with the highest
payment potential while analyzing
recovery industry trends.
COLLECTION PRIORITIZATION AND STRATEGY

9. The use of effective skip-tracing
techniques can help enterprises
locate hard-to-find debtors,
improving the likelihood of a
successful debt collection.
LOCATING HARD TO FIND DEBTORS

10. Decoding
B2C and B2B
collections

11. Accounts
Receivable
Turnover
=
Annual credit
sales revenue
The lower the Accounts Receivable turnover, the
higher the risk of cash flows not materializing
Average
accounts
receivable
÷
Identify the right metric for B2C collections

12. If collection period is
higher than industry
average, it should
lead to tightening of
credit lines.
The type of debt also
plays a crucial role in
devising enterprise
collections strategy.

13. Banks
Banks
Secure vs
unsecured debt
Handling secure debt
themselves, outsourcing
unsecured debt collections
Credit card loan to a
valuable customer
STAKEHOLDERS TYPE OF DEBT COLLECTION STRATEGY
Insurance companies,
Government agencies
Pending dues
Not forwarded to a third party
debt collection agency due to
risk of breaking ties
Automated voice-generated
reminders to inform
consumers
Voice-based reminders have a higher success rate than third party
agencies when the payable amounts are not very high

14. Business to Business
(B2B)
Business to Consumer
(B2C)
VS
More complex Less complex
Overall quantum of collections is
higher and impacts creditor’s cash
flows more severely
Overall quantum of collections is
lower, limiting the impact of
defaults or late payments
Commercial relationships run deeper Relationships usually restricted to
financial dealings

15. Role of
voice interactions
in collections strategy

16. Voice Interaction
between
Contact
Center
Agent
Has a higher
success rate
Debtor
EFFECTIVELY
PERSUADING
Enterprise
Agent
Consumer
Allows personal
communication
ENSURING
HEALTHY LONG
TERM RELATIONSHIPS
through
mobile phones
through
human touch

17. INTERACTS
WITH
CASE IN POINT: When credit card defaulters have a temporary financial crisis …
Voice
Agent
Consumer
HELPS THE BANK
IMPROVE ITS
COLLECTION
OFFERS PARTIAL
REPAYMENT OPTION
PITCHES PERSONAL
LOAN PRODUCT

18. Debt collection
metrics and
running of an
effective collections team

19. 30-, 60-, 90- ,120-, 150-, 180-day
delinquencies are classified as
Buckets 1, 2, 3, 4, 5, 6 respectively
Proportion of delinquent
customers moving from a
lower bucket to the next
BUCKETS AND
DELINQUENCIES
P2P is a Payment Schedule set up by
collection agents, with smaller P2P
timelines for larger outstanding amounts
PROMISE TO PAY (P2P)
ROLL RATE

20. Cost of debt collection can exceed the debt itself!
DEBT COLLECTEDCOST OF DEBT
COLLECTION
To ensure the collection cost does not exceed the
debt itself, outstanding payments are categorized
as per various delinquency buckets
>>

21. An effective collections operation ensures …
Accurate and periodic bucketing of delinquent customers
Intelligent evolution of the Promise to Pay process
Active management and recovery from each bucket
Aggressive minimization of roll rates
“Collection by attrition” is a zero sum game that is no longer relevant.
A collections strategy based on Speech Analytics can help drive innovative ways
of improving collections.
Classification of debt and delinquent customers

22. Role of
Speech Analytics
in voice-based collections

23. Voice-based collections may have a higher success rate for
recovery and collections.
But, it also has multiple challenges.
Many indebted customers can be difficult to reach or may
deliberately avoid collections calls.
Speech Analytics-based voice solutions help agents tackle
such challenges without escalating collection costs.

24. Mapping all collector-debtor
communication and securing
P2P:
Speech Analytics maps every
agent – customer call. Agents
are allowed to construct P2P
timelines tailor–made as per the
consumers repayment history
Customer Sentiment Analysis
for zeroing down on customers
most likely to pay:
Speech Analytics uses
predictive analytics, which
offers an insight into customers
who are most likely to pay.
Retaining best collection agents
and help increase revenue per
collector:
Reducing compliance risks:
Speech Analytics offers insights
into agent performance who are
in turn rewarded with higher
perks, reserving the option of
being used on more challenging
collections calls.
Speech Analytics minimizes
compliance risks under
Consumer Protection laws
that prevent the use of harsh
language that may actually
backfire on the creditor.

25. auMina from Uniphore:
The next generation
Speech Analytics
solution

26. auMina, with its Machine Learning and Artificial
Intelligence capabilities …
HARNESSES
INSIGHTS
FROM
Customer
InteractionsHELPING
ENTERPRISES
Improve
collection efforts
Identify
up-sell and cross-sell
opportunities

27. Keyword Spotting
+
Voice Analysis
100 %
Call coverage
Customer
Sentiment Analysis
RECOVERS
DUES
BY
Optimized P2P schedules +
Cross-selling + Up-selling
BASED
ON

28. To know more about how your organization can
increase revenue by boosting collection efforts by
implementing Speech Analytics using auMina or deploy
a smart Speech Analytics program customized for your
needs through a demo, please write in at:
bd@uniphore.com
To download your copy
of the whitepaper on this subject,
please click here.

29. Uniphore Software Systems is a frontrunner in the
Speech Recognition Technology and Virtual Assistant
domains. It partners with over 70 enterprise clients and
has over 4 million end users.
Uniphore Software Systems is headquartered in IIT
Madras Research Park, Chennai. Uniphore was
incubated in IIT Chennai, India in 2008 and currently
has offices in India, Singapore, and U.A.E, with about
100 employees spread across all locations. Uniphore’s
investors include Kris Gopalakrishnan, IDG Ventures
India, India Angel Network, YourNest Angel Fund, and
Ray Stata.
Uniphore was recognized by Deloitte as a Technology
Fast 500 company in Asia Pacific in 2014 and was also
ranked as the 10th fastest growing technology
company in India by Deloitte Fast 50 in 2015.
Uniphore’s Co-Founder & CEO, Umesh Sachdev was
recognized by the TIME Magazine list of 2016 amongst
“10 Millennials Changing The World”, and with India’s
edition of MIT Technology Review’s ‘Innovators Under
35′ for the year 2016. www.uniphore.com.