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How Coaching Bots Can Increase Your Debt Collection Call Centre Yields

February 9, 2018 at 7:41 AM

Machine learning and advanced data analytic techniques are often used in combination with behavioural sciences to develop coaching bots. Virtual assistant for call centre agents is a collections solution that guide and support agents through calls in real-time, offers them easy access to information and motivates and inspires high performance. This can translate directly to increased collection yields.

How does it work?

Virtual assistants can assist agents improve their performance through:

Coaching

Virtual assistants walk your agents through their calls in real-time and give your agents information about the debtor and can make personalised suggestions on appropriate actions, based on the information available for each account. This allows agents to easily come to payment terms with the debtor.

Motivating and inspiring

Be clear on what is required from the agents on a day to day and/or hourly basis. Ensure that these expectations are reasonable, achievable and data-driven. Quantitative measures/KPIs should be visible to the agent within a live environment for them to track performance, and qualitative measures should be visible on a daily/weekly basis at minimum. Virtual assistants can be utilised to display this information in a fun and gamified way to agents.

Ease-of-use

Your call centre agents likely already rely on multiple systems to operate which could overwhelm them. Giving them a single interface to work with that pulls data and information from other systems and presents it in an easy-to-use framework, will ease any problems. Most coaching bots can do this using their analytical data models.

Ease-of-access

It has been shown that the first three to five seconds of a telephone call is the most vital part of the conversation. With the human brain processing and absorbing visual images (pictures and colours) within a split second, the importance of visual depiction of data has never been more essential than now. Enabling agents to use the first three to five seconds of a call effectively, vital information needs to be represented visually, for e.g. gender, age, risk and account information.

Agents can build on existing relationships by viewing customer or account data visually during a call, such as how long they have been a customer/account, last call outcome and analytical insights e.g. customer behaviour; individual preferred instalment; rehabilitation eligibility; discount offers etc. Improved efficiency and customer experience will result in an increased staff satisfaction and financial outcome.

Virtual assistants offers a host of additional possibilities, including the chance to introduce gamification into your collections environment. Read more on other analytical strategies that will improve results in your collections environment by downloading our guide to Optimising Your Collection Yields. You can also find out more about Agent X, our call centre Virtual assistant.

Increase your collection and recovery yields

Perry de Jager
Perry de Jager
Perry has been involved in Collections and Recoveries for the past 12 years, spending time in different market segments ranging from law firms to investment companies. At Principa, Perry has worked on extended projects within both South Africa and the Middle East with some of the largest financial organisation, providing on-site consulting within the collections and recoveries space covering strategy, process, people and technology.

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