Debt collection software: 4 real-life successes

Improving collection effectiveness (and other critical debt collection KPIs) can get challenging, but luckily, the right debt collection software can significantly increase your chance of success. 

Check out four real-life examples where companies used contact center software to their advantage and achieved outstanding debt collection results.

1. Saving costs with omnichannel debt collection software

Ferratum Group, a mobile microloan provider operating in 18 countries, needed to streamline its debt collection process to reduce costs and reach more customers, faster.

To solve this, Ferratum teamed up with VCC Live to implement an automated SMS solution fully integrated into their CRM. This allowed agents to instantly send follow-up messages with a single click after a call, or automatically when calls went unanswered. By streamlining outreach and reducing manual work, Ferratum turned their legacy system into a responsive, omnichannel operation.

Since implementation, Ferratum has seen a 65% increase in debt collection efficiency and saved an estimated €60,000 in operational costs. Agents now connect with more customers in less time, keeping collection efforts fast and cost-effective.

2. Maximizing productive talk time with AMD

Financial services firm DelfinGroup’s main challenge was debt collection – specifically, increasing productive talk time while agents were burdened with voicemails. 

The company approached VCC Live with two main purposes: they wanted to increase the success rate of their outbound activities and diminish voicemail encounters. In the implementation period of the debt collection software, the answering machine detection software was trained on unique voicemail indicators to successfully spot them. 

In just the first month of using voicemail detection, over 5,000 answering machines were spotted, eliminating 42+ wasted hours. Now, each agent is able to handle over 100 calls per day, keeping debt collection campaigns productive. 

3. Handling all activities via one unified debt collection software

4finance, a leading digital consumer lending group, struggled with inefficiencies in debt collection due to managing multiple contact center solutions across different countries. 

To streamline operations, they adopted VCC Live’s all-in-one platform, integrating predictive dialers, over-the-phone payments, and voicemail detection to enhance debt recovery. 

As a result, 4finance reduced voicemail connections by 30%, allowing agents to focus on live interactions and accelerate collections. The seamless rollout across multiple countries, along with continuous improvements like automated payments and advanced reporting, further optimized their debt collection efforts.

4. Accelerating collections with self-service

Telecommunications firm One needed a more efficient way to handle overdue payments. Their previous method consisted of two parts: 

• Agents reached out to customers and agreed on a payment plan.  
• Once customers settled their debt (usually via online payment methods, bank transfer or cheque), their services were reactivated. 

One’s KPIs revealed that the majority of customers failed to keep their promises, leading to follow-ups and increased workload for agents. The company needed a way to streamline their collection process while remaining secure and cost-effective. 

VCC Live Pay was implemented for the firm, allowing customers to settle payments during phone calls. Thanks to the new feature, a considerable amount of debtors immediately took care of their overdue amounts during a single phone call, and within just one year, 43% of payments were settled over the phone.

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