The process of debt collections has been rapidly transforming, especially over the past half a dozen years, since the financial crisis which triggered the worst blow to world economies since the Great Depression of the 1930s. The stubborn downturn has significantly reduced household incomes in the UK which has, in turn, led to a radical change in how delinquent accounts are handled. Gone are the days of reliance on traditional methods alone. Wescot, one of UK’s top collection agencies, is making much needed adjustments in order to boost success rates, notably in registered accounts pertaining to 3-month break-in delivery. Here’s a look at what’s changing.

Maximising Customer Contact Rates

Maintaining elevated rates in the area of customer contact is vital to collection delivery success. Communicating with customers allows companies to determine the underlying circumstances that lead to sluggish or faulty payments and then to effectively create a plan for repayment that meets the needs of both customer and client.

In order to optimise the rates of customer contacts, data must be constantly updated. Such data cleansing is key for maintaining the most current contact information as well as creating messages that best address individual issues and selecting the most advantageous message delivery options.