Raising the Bar for Collection Agencies with Advanced Predictive Dialing

Raising the Bar for Collection Agencies with Advanced Predictive Dialing

The mere phrase “debt collection” automatically invokes frustrating images of exhausted call center agents attempting to euphemistically tell frustrated customers that they owe money. Thankfully, there is a technology that mitigates these challenges and improves the experience for both customers and collection agencies alike. Conversely, a predictive dialer solution offers many advantages aimed at enhancing agent efficiency and productivity by making this process as seamless – and painless – as possible.

That’s exactly why a recent whitepaper byIAT Smartdial Solutions outlining the core benefits of predictive dialers for debt collection caught our eye. By streamlining the mundane process of analyzing dialing rates and caller data, predictive dialing technology enables agencies to achieve the hard-to-find balance between maximizing talk time and minimizing hold time or hang ups. The technology completes this time-consuming work for you by coalescing records into simplified formulas and algorithms. In doing so, the technology supplies agents with a steady stream of live contacts and makes automatic adjustments for inbound calls to optimize campaign performance.

The label “predictive dialer” is often too liberally applied in the industry, so it’s important to understand how to differentiate it from one that uses static allocation. While static dialers require executives to manually manage resources and estimate patterns, a more advanced, innovative dialer should be able to instantly adjust, meeting any unique circumstance with precision, ensuring that agents see significant improvement in the collection process. The latter solution should also circumvent voicemail and busy signals in order to provide a comprehensive report about each debtor, increase call volume and improve recovery rates.

In the debt collection industry, missed call opportunities mean missed money. Why prolong a mundane, inefficient process that’s hurting rather than helping your agency? Save time, increase debt recovery returns and enhance productivity by embracing predictive dialing. It’s as simple as that.

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