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Predictive Dialers Drive Success in Collections Space in the New Year

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December 26, 2012

Predictive Dialers Drive Success in Collections Space in the New Year

By Jamie Epstein, TMCnet Web Editor

Touted as a next-generation offering that uses statistical algorithms to greatly cut down the amount of time agents spend waiting between conversations while almost completely eliminating the chance of someone answering when no agent is available to speak to them, predictive dialers are a key element to nearly every industry. Within the collections vertical particularly, the ability to adjust the dial rate to reduce the amount of time agents spend waiting between conversations and the hold time for callers is vital to retrieving past due funds in an efficient manner.

Steve Brownrigg, sales representative, SpitFire, recently stated that collections is “a big industry for us,” and with its capabilities, including being able to closely monitor the overall call center volume as well as how much time is being spent on each and every call, it’s not hard to see why.  

While many things go into running a successful debt collection center, there are three prominent factors to remain mindful of at all times.

First, “Compliance is vital. Consumer protectionism and politics permeates the industry today. Firms are being monitored from all directions—FCC, FTC (News - Alert), CFPB, federal and state lawmakers and attorneys general. So it’s crucial that every firm diligently remains compliant with current laws and regulations,” said Dave Rudd in a recent piece featured on Luckily, SpitFire assists customers in adhering to rigorous mandates at all times as its enterprise predictive dialer falls in line with all telemarketing regulations, new and old.

Next, optimizing your agents’ contact time is important because if these employees are not using their work days wisely, it is likely the center won’t survive for the long term  

Rudd added, “When an agent isn’t speaking with a debtor, an opportunity to collect on past due accounts is lost. If they are unable to work accounts because a manager needs to manually switch lists, agents and campaigns, then money is being lost. A few minutes wasted here and there really adds up fast.” To eliminate this time-wasting obstacle, turn to a predictive dialer as it can simply assign various agents to certain callers without delay.

Lastly, personalizing campaigns and pop scripting for each individual campaign comes in mighty handy for collection organizations as they will help customers feel as if they receiving personal attention and are more likely to either respond to said messages or take action towards repaying their outstanding debt.

America is built upon people using credit, but sometimes these debts become too much and can quickly add up. But with a predictive dialer informing you of money owed in a short period of time, not only will debt agencies receive their funds back much more quickly but your mind can rest at ease knowing you have paid your bills.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.

Edited by Rachel Ramsey

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