Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.
Collection departments utilise diallers and collections management systems to improve their collections by segmenting the delinquent customers, prioritising them and applying a host of treatments. Whilst segmentation takes you so far, there are a host of other mathematical models that can be explored to improve what we call the “Collections Cascade”. Improvement in any step of the cascade can help improve the collections yield and there are a number of models that can be used. A few of them are listed below:
What is CollectSmart? CollectSmart is a powerful, modular, enterprise-wide debt collection management system that combines business controlled segmentation with the allocation of appropriate and differentiated actions to individual customer profiles - all accessed via an easy-to-use web interface.
We talk to credit expert, Mignon Roodt, about the Debt Relief Bill, what it is and what the potential impact of the bill is.
Staff motivation levels are an important factor in every business, but even more so in a client or prospect facing environment such as a call centre. If your call centre agents are motivated, you can expect them to remain an employee for a longer period of time, reducing staff turnover. This not only saves you a lot of resources for recruiting, but also for training.
Most websites or apps lately have a chat function, whether that be an AI-powered chatbot or a live chat function. But many people (and some businesses) don’t know the difference between the two and aren’t sure when they are talking to (or have installed) a bot or an agent.