It’s been almost two months since we launched our first ever podcast, showcasing a first-class panel offering successful debt collections tips for the biggest collections tech questions currently debated.
Over the past 8 weeks we’ve released the hottest questions from our live event in March and in this post, we’ve pulled them all together into this single easy to navigate blog post for your convenience.
New to our blog? Just click on any of the posts below to be taken directly to its blogpost, where you will find the podcast and transcript for each of the big questions. So, please tune-in to listen at your pleasure and if you’d like to study in more detail the transcript is there for your enjoyment and/or education.
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Here’s the list of the direct questions discussed at our event:
- WILL AI TAKE OVER COLLECTIONS COMPLETELY?
- HOW DOES TECHNOLOGY HELP TO IDENTIFY THE WON’T PAYS?
- IS SOCIAL MEDIA AN ACCEPTABLE CHANNEL IN COLLECTIONS?
- SHOULD RELATABLE LANGUAGE BE USED IN THE COLLECTIONS PROCESS?
- WHAT’S THE FUTURE OF OUTSOURCED COLLECTIONS WORK?
- DOES SEGMENTATION WORK AND WHAT FACTORS NEED CONFIGURING?
- IS THERE A PLATFORM CUSTOMERS PREFER FOR PERSONAL ISSUES?
- QUESTIONS FROM THE AUDIENCE
Here’s the questions in a little more detail – just click the image to tune-in:
The growth of Artificial Intelligence (AI) in all industries is astonishing. Here at coeo our customer portal chatbot CRiS enjoys an 80% (and improving) success rate for answering customer queries. AI has been a game changer for us, but will it take over Collections completely? Well let’s see what the experts have to say.
Streamlining activities and mapping customer journeys is integral to understanding all customer motivations, trends and segments (including won’t pays). In this podcast our panellists pick out which technologies help for successful debt collections and how.
The growth of social media platforms in the past decade has been unprecedented and connecting with people is a desire for all businesses. But are these channels an acceptable route for the Collections industry? All is debated here.
The digital age has impacted every traditional aspect of modern living and none more so than language. With an incredible 45.1 million (2019) daily internet users it has never been more important to make sure your debt collections communication style is fit for purpose.
The Collections industry is in continuous evolution so understanding the direction of the industry and how outsourced collections can best serve it, is integral to the future and survival of this sector. In this podcast our experts pull out their crystal balls to peer into the future.
In Collections, treating all accounts on a case by case basis would probably end up being a waste of resources, but luckily when experience and data are applied collections teams can place individuals into segmented groups to help manage them. But does this really help?
In Collections it’s important to understand that there’s a myriad of moving parts needed to make sure a vulnerable customer is supported correctly, and as often happens, problem debt walks hand in hand with other issues, meaning it’s an ever-evolving challenge. In this post our team of experts share their experiences to discover the best way forward.
Following our extensive and dynamic panel discussion it was decided to open questions up to the floor.
The questions were:
- Has technology bypassed traditional tracing?
- Can the panellists share practical advice when dealing with vulnerable customers?
- How does coeo apply breathing space and payment breaks?
- And the number one top tips for a strong complaint collections performance.
Final words from coeo
Thank you for taking the time to listen to our podcast. We’d like to once again thank all of our contributors on the day and especially our line-up of panellists:
- Gary Grey (GG) Head of Collections at Spark Energy
- Caroline Burston (CB) Operations Director at coeo
- Caroline has worked in the Debt Collection industry since 1993 and gained extensive experience at several collection agencies and solicitors’ practices. Caroline is a well-known industry figure and brings extensive compliance experience and knowledge to coeo and is also a member of the prestigious Credit 500.
- Tony Gunderson (TG) 30 years + experience in financial services
- Lisa Beeching (LB) Head of Supplier Management and Quality Assurance at 1st Central
- Lisa is currently Head of Supplier Management and Quality assurance at 1st Central Insurance and Technology managing key supplier relationships across 45 suppliers spanning all operational areas from sales through to claims.
You can also listen to ‘The Big Questions’ series on the coeo podcast SoundCloud page, just