Predictive Dialing and Dynamic Resource Allocation for Collection Agencies

Predictive Dialing and Dynamic Resource Allocation for Collection Agencies

In the past, we’ve discussed how predictive dialer technology provides unique benefits to debt collection agencies looking to improve agent performance and increase recovery rates. That’s exactly why a whitepaper by IAT Smartdial Solutions caught our attention, which highlights one valuable feature about this technology in particular – dynamic resource allocation.

For anyone not familiar with the concept, dynamic resource allocation is the core functioning process of a predictive dialer that allows the solution to assess the calling environment and adapt accordingly. The process helps analyze the hit rate (or number of live contacts found), automatically balancing agent wait times with inbound call volume. Other identifying features such as individual pacing, inbound blending and skills-based routing are contingent upon the success of dynamic resource allocation. Combined, these benefits work to provide you with an efficient and productive solution.

Contrast this experience with the capabilities of a static dialer; the manual performance limitations simply can’t compare. For example, managers constantly have to be aware of and actively track call trends to make these proper adjustments. Not only are such observations usually not nearly as accurate or rapid as those of a predictive dialer, but they are limiting of business managers’ time, which could otherwise be spent on high priority tasks. Selecting the wrong number of dialing lines and incorrectly estimating hit rates can be a completely unnecessary setback for a business manager or executive.

Debt collection may be a nuisance, but it’s also a necessary one for businesses across many industries. Needless to say, it is vital that you make the most of this technology with the right solution.

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