Why the Customer Experience Matters to a Debt Collection Agency

Why the Customer Experience Matters to a Debt Collection Agency

A debt collection agency is an essential part of the customer lifecycle.

Your customer is our customer.

While some may not reflect closely on the idea of customer service as it’s applied to a past due balance, we do. That’s because we understand a debt collection agency can actually create goodwill in the marketplace for your business. Since bad news travels quickly, our goal is to establish payment arrangements with customers in a way that does not damage your reputation – or violate any compliance rules, and helps the customer to re-establish good standings.

This post discusses the concept of customer experience and its relevance to past due accounts receivable. How can collection agencies walk the fine line between collecting from debtors without damaging your company’s reputation? How can the technology they use actually reflect positively on the customer experience as they interact with your brand?

Debt Collection and Customer Care

Your customers engage with your brand through a multi-faceted group of channels including email, website, by phone, in a brick and mortar store, and yes, even via a collections agency. Each of these interactions must provide a consistent overall approach – or run the risk of harming your brand’s reputation in the marketplace.

What if your debt collection agency could actually improve the customer experience?

We’ve found that customers engage with your company in their own personalized way; some prefer to call if they have a question, others prefer the anonymity of online communications. One way that a debt collection agency can respond to customer preferences is to simply engage with them in the channel that they prefer.

Since past due balances are often an embarrassment to your customer who has inadvertently fallen behind, TSI offers an online process so that these clients may make payments via an online portal. Customers can now make payments via their cellphones 24/7. The point is that we have a variety of methods to engage with customers in the methods in which they prefer. These channels offer ways to actually increase customer engagement and build your brand by improving upon the relationship, not destroying it.

A Personalized Approach

Personalizing the message to consumers, even during debt collection agency process of collecting on past due balances, means treating customers as individuals, not as debtors. It means making note of the communication channels they prefer and the times when it is most convenient for them to speak candidly with the collections team about their situation and how to resolve it.

While this sounds too complex for a large pool of past due A/R, with technology, TSI enables multi-channel communications that are personalized to fit your clients. We have both the technology and the training to reach out to customers in ways that help, not harm your brand. Our approach recognizes that the past due client may have suffered a temporary setback, and with the proper handling to bring their account back in order, they may continue to be a client in good standing for many years to come.

The Debt Collection Agency is Part of the Customer Lifecycle

The debt collection agency should no longer play the role of enforcer. We believe past due balances can be rectified just as effectively by becoming a respectful part of the customer experience. TSI works to move past due accounts from delinquent to paid, and our approach is not only in compliance with regulations, we are also sensitive to the importance of professionalism and integrity. Our goal is to help establish and maintain strong partnerships between your business and your client. To learn how TSI can be an extension of your brand while collecting with a diplomatic approach, contact us today.

Want to learn more about TSI? Fill out the form and a TSI representative will contact you shortly.