Minimize Good Money Spent Chasing
Collections are a difficult part of any business. They represent perhaps the most tenuous relationship with customers and to do them right requires a delicate balance of persistence and escalating communications to impart the importance and urgency of bringing accounts current.
The challenge for collection organizations is pursuing outstanding debts to keep customers honest while doing so in the most efficient and cost-effective manner possible to keep the program producing a positive return. To achieve this standard, collections organizations must: 1) Strictly follow and adhere to FODIE/FDCPA rules for collections calling, 2) leverage new channels to reach, motivate and process customers, and 3) to structure, analyze and leverage collected intelligence to strategically approach each customer and avoid the cost of low-probability collection attempts.
SkyCreek Collect is designed to provide a lower-cost, multi-channel and intelligently targeted automated alternative to human calling in chasing bad debts. Collect leverages detailed contact histories for each collections account. It identifies which channels and collections approaches both individual customers and customers in general are known to have responded to in the past to determine the highest-probability times, days, channels and approaches to employ to yield customer connections, responses and ultimately payment. Collect provides flexible contact logic to determine different actions depending on the result of each contact attempt—whether a live person is reached, voice-mail, an answering or fax device, and/or if emails/text messages were opened and what type of response, if any, was received.
SkyCreek Collect has been deployed across nation-wide, regional, state and county levels (and in Canada). It has been used continuously in customer accounts for multiple years and is easily customized, refined and optimized to the particular collections situation and according to cost objectives.