Customer Escalation Programme Delivers Results
Every organisation faces different challenges when it comes to treating all their customers fairly – from ensuring DCAs on their panel are not forcing customers into arrangements they cannot afford, to making sure the customers that pay on time month after month are not forced to pick up the bill left by those that do not pay.
In order to treat all customers fairly creating a robust collections strategy is essential but comes with many challenges. Some have the trial of managing multi DCA relationships across different debt types while others do not have the volume of accounts to warrant the luxury of a staged process.
Sending accounts to one agency for 1st placement, another for Secondary and yet another for Tertiary Collections means all of these companies must be managed in the same way. They all have to be approved, maintain compliance, demonstrate that they can perform and prove that they have a robust TCF and Complaints procedure. With different commission rates and systems making sure your DCAs provide files and reports in the same, easily comparable format can be a real headache.
On the other hand not employing multiple agencies with a rigid, staged collections flow will undoubtedly lead to lower recovery rates.
If you recognise the above issues why not consider the “C.E.P.” (Customer Escalation Programme)
At Zinc we will work a portfolio of debt within the Group, following each phase of the collection cycle to an agreed SLA; in the first instance we will match your best performer in each phase, for a fixed single rate.
A rate that is of substantial cost benefit compared to your current combined suppliers rates. However you only have one DCA to manage!
How do we do it?
We have created three centres of excellence operating as standalone profit centres. The fixed costs of our business have been absorbed at group level, allowing each centre to concentrate on its direct cost base and be measured as a standalone profit centre. Each office is therefore independent in its outlook and expected to compete against the other centres of excellence.
Our “Multi Channel Collection Model” means that all customers are given every opportunity to interact with us via any method that they feel comfortable, if we are unable to engage from a customer services angle their account will escalate to another office for their account to be managed from a different location with a different perspective. If there is still no resolution the final centre of excellence will be passed the account for further trace and recovery action to ensure all avenues have been fully explored.
Our clients all benefit from a true economy of scale and enjoy performance from a multi award winning organisation that has one of the most experienced senior management teams in the industry; a company that has a proven track record working for a number of blue chip clients.
Zinc recently won the Commercial DCA of the Year 2012 award, the judges said:
“This entry showed good use of technology and great testimonials from an impressive roster of clients. Zinc deserves this award”
Zinc also won the Consumer DCA award in 2010 making us the only DCA to win both the Consumer and Commercial Collections awards. We were also shortlisted at the Credit Today Awards 2011 for best use of technology.
We enter 2013 with our own bespoke “Multi Channel Collection Model”. Overdue Customers can engage with us through a web portal on their mobile, tablet, or computer. A simple log on will give them the ability to take control and offer us a payment conducive to their ability at that moment in time.
If they have a dispute or wish to interact without feeling pressurised they can use “Zinc Chat”. Our E Solutions provides a range of tools for overdue customers to use. It is friendly and embraces the principles of “Treating ALL Customers Fairly”.
We believe our clients can feel comfortable in then enforcing any still overdue account. Something they maybe would not consider using traditional multi DCA passive letter and telephone techniques. Something worth considering if they are serious about “Treating ALL Customers Fairly”.
We are so confident in this concept that it is our belief any client using this service will simply sell or charge off any such accounts at the end of our “C.E.P.”