Fortunately, the traditional approach to debt service is changing. It used to take a lot of time that your employees could have spent on more creative tasks.
Many companies waste a considerable amount of time pursuing customers who haven't made the payments specified in the contract. Your company doesn't have to be in this group. Thanks to automation, the process of urging, reminding or execution is faster and more effective.
WHAT ERRORS OCCURs DURING THE DEBT SERVICE?
In the course of debt service, employees face many difficulties. In the organizational, technological and cultural areas. Debt services processes in a manual manner aren't conducive to the effectiveness of actions. The list of endless calls, saving the effect of each call, supplementing information about the client's status, postponing the repayment to another date - these are just a few tasks that were previously performed without automation solutions. Technology has changed the method of debt service, so that employees don't make so many mistakes.
- Incorrect verification of the profile of the organization paying off debts/paying invoices
- Entering data into the wrong column
- Assignment of data from one company to another
- Not updating payment status
- Failure to make a call within the set deadline
- Entering out-of-date information into the system
Which debt collection related processes could be automated?
Periodic reminders about the upcoming payment date
Sending a message about an unpaid amount
Preparation of a lawsuit based on customer data
Generating periodic reports
Sending electronic documents by e-mail
Classification the messages in the e-mail into the appropriate folders
Informing the manager about the payment
CHATBOTS OR VOICEBOTS ENHANCES DEBT SERVICE
The most popular form is Voicebot, which simulates consultants' answers to frequently asked customer questions. They concern the regulation of overdue payments and the duration of the contract.Chatbot plays the role of advisor and representative of the company in the process of receivables service.
Additionally, Voicebot can make a phone call to the outstanding payer and can remind him of the necessity to make a payment of a certain amount.
VOICEBOT IS SOFTWARE THAT:
- Answers the debtor's/client's inquiries
- Sends information about the payment status
- Informs about the amount, date and cause of the payment
- Postpones the date of the visit or conversation with the consultant
- Conducts negotiations on debt repayment
- Prepares reports on the interviews