Collection Module for Call Center Solution

Collection industry is a very big industry and covers almost all industry verticals such as, banking, insurance, automobile, mortgage and more. To perform collection process, the collection companies use the call center solution and field agents. The call center software with traditional features requires lots of manual efforts to run campaigns with unique business logics. To simplify the process and reduce manual efforts, we have developed a collection module.

The collection module is designed with the business logic of the collection companies based on the bucket systems.

Business logic for the collection using the call center solution:

  • The agents of the collection company get a lead list from their customer for the clients who need to pay one EMI of the existing month. This type of customers is added in a list, called, Bucket 0 for an instance. Also, the companies can have the list of customers from the last month which have more than one EMI to be paid. This type of customers is put in different campaigns, namely, Bucket 1, Bucket 2,……., Bucket N.
  • The agents need to call them and with personalized information they need to request customers to pay their EMI via online payment, at a branch or they offer collection from their office or home via field agents. The calling can be performed with the auto, progressive or preview dialer available in the call center software.
  • If customer makes the payment on or before the pay to promise date, the agent will put associated disposition, payment status and remark. The call center dialer will automatically skip calling the numbers which have already made payment for all pending EMIs.
  • The process of calling for collection will continue throughout the month for all the numbers that have not paid one or more EMI.
  • At the end of the month, the collection company reviews the customer history based on various metrics available in the call center solution reports to identify customers who are more likely to pay EMI as well as customers who might not pay their EMI. The collection company retains the leads that are more likely to pay EMI, which is called retained leads. Also, the certain % of leads is returned to the main company which seems not likely to pay EMI, which is called referred out leads.
  • The collection company then after run calling campaigns for the retained leads only.

This cycle continues every month. During the live call, the agent may come across different status such as,

  • The customer request for a call back
  • The customer request to call on another number
  • The customer promise to pay (PTP) on a specific day
  • The customer ask to collect payment
  • The customer call can’t be connected

In each of the above case, the agent needs to take respective actions as listed below:

  • The agent puts disposition with the callback date and the call center solution dialer makes a call on the specified date
  • The agent calls on the given number and have a conversation
  • The agent mentions the date of a promise to pay (PTP) and give reminder calls on regular interval to assure payment recovery on the promised date
  • The agent mentions disposition for the further action of sending a field agent to collect payment to the address from where the payment needs to be collected
  • The agent attempts different numbers or reference number and take a necessary action

This complex business logic is not available in the traditional call center solutions. However, we have developed the collection module for the call center software, which has above mentioned logic as well as many more features.

Update Only New Data (Fields) for Optimal Usage of Server Resources

Payment Utility

In the collection business, automation of filtering numbers which have already paid the EMI is very important because it saves time and resources otherwise invested. In our collection module for the call center software, we have developed a complete feature of the payment utility. This feature allows filtering out the numbers based on the Disposition, specific remark, payment history, last payment dates and other criteria. It means once with any of the trigger, we mark that the number has already paid all EMIs till this month, the call center solution will automatically remove that number from the list during the calling process until next month. This saves a lot of manual effort of removing the numbers for the customers that have already paid the EMI. We can customize this module further based on the need of the collection company.

API Integration

The collection module, itself, is perfect to run the call center campaigns related to the collection. However, each collection company might be using some solutions and they prefer to continue using the same. We, at Elision, have expertise in integrating all those solutions with our expert API integration service. For an example, we can integrate a CRM system of the collection company, so all lead data updated based on the call in the call center software also get updated in the CRM system automatically. We can also integrate a mechanism to fetch the payment history of the customer during the live call so the agent can personalize the conversation by checking the first EMI date, second EMI date, so on and so forth. We have expertise in showing all necessary information to agents by fetching it from your system in the PDF or other preferred format. We also take care of all security concerns to provide a reliable solution.

Key Features of Collection Module:

  • Customer information display during live call
    • Loan details such as application ID, agreement number, etc.
    • Customer name
    • Primary number with click to call facility
    • Secondary number with click to call facility
    • First reference name and number with click to call facility
    • Second reference name and number with click to call facility
    • And more
  • Account Information display during live call
    • Bucket name
    • EMI start date
    • EMI end date
    • Tenure
    • Balance tenure
    • Loan amount
    • Overdue amount
    • Last payment bounce date
    • Last month payment mode
    • And more
  • Agent Inputs
    • Disposition code
    • Sub disposition
    • Call back date and time
    • Promise to pay (PTP) date
    • Promise to pay (PTP) amount
    • Pickup address
    • And more
  • Lead date import / Export
  • Call detail reports
  • History
  • Payment utility
    • Don’t callback if payment is made
  • And more

The collection module is customizable and we can add tailored business logic as per the company’s need if it is different than the mentioned one. It is a ready to use module / add-on and can be integrated within any call center software.

To know more about this collection module and to have a free demo, contact us.

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