How to promote cost reduction in the collection company?

A company’s success depends on appropriate investment in relevant solutions and strategies while promoting cost reduction across the company, balancing finances, and increasing business profitability.

In the collection sector, cost reduction in the company is fundamental to improve its income and have available capital to invest in solutions and technologies that allow a better performance of the services performed.

Thinking about these challenges of the operations manager, we highlight below how to reduce costs in the collection company without harming performance in contact and relationship with the consumer.

How To Promote Cost Reduction In The Company?

The reduction of costs in the company is based on a series of solutions, strategies and technologies that can be incorporated in the business in order to optimize the processes and improve the results. We highlight three of them: self-service, data intelligence and digital agents. Keep following!

Self service

According to the 2015 Global State of Multichannel Customer Service Report, the expectation of 90% of consumers is that companies offer self-service over the internet. For 60% of them, it is a positive differential if the brand provides responsive self-service by mobile devices.

Thus, self-service becomes more and more decisive in the possibilities of the brand to provide a good experience to customers.

One option is the Audible Response Unit (ARU) that consists of a technology that allows automating part of the telephone service, making clarifications to the customer or directing him to the most appropriate department according to the reason for the contact.

As presented by surveys, it is still relevant that brands have online self-service such as chatbot. This solution allows an agile service, by digital channels and that answers the doubts of the client.

Data Intelligence

Another important element in reducing costs in the company is the use of data intelligence. This solution is based on collecting, analyzing and storing customer information to generate insight and useful knowledge into brand strategy.

The data intelligence allows knowing and mapping the client’s journey, identifying the most relevant channel for the consumer, such as telephone, e-mail, social networks, WhatsApp and others.

Besides this aspect, the technology also allows to know better the client, giving subsidies to personalize the service and have better proposals and arguments in the debt negotiation.

Digital agent

Finally, cost reduction is also possible with the use of a digital agent, which is a mean of automating and optimizing telephone calls.

Among the activities that can be performed with the Olos digital agent, stand out collections, sales and SAC, negotiations, product demonstration, data collection and others.

The digital agent uses data intelligence, which allows it to grow and become more assertive in communicating with the target audience.

How To Join The Three Solutions?

OlosChannel, Olos’s customer engagement software, brings together the three demands for cost reduction from the collection company, providing self-service solutions, data intelligence and digital agent solutions.

The solution uses data intelligence to distribute mailing considering the preferences identified in the customer’s history, which makes it possible to contact a channel that is more relevant to it, increasing the number of successful contacts.

With this, the technology stands out for being complete to meet the demands of a collection company, allowing the reduction of costs while making it more effective.

To learn more about OlosChannel’s self-service features, visit our website and get in touch!

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