Debt collection case study: UPCReading Time: 2 minutes
“Ok, I’ll pay what I owe you online tonight”: an often-spoken but rarely-kept promise in the world of debt collection. But here is a debt collection case study showing how UPC Hungary put a stop to empty words such as these, and increased their number of kept promises.
Every service provider experiences situations in which, for one reason or another, customers fail to meet payment deadlines and accumulate debts. This is where professional teams of debt collectors come in, to remind customers of their overdue payments. However, regardless of the communication channel used to remind customers, debt collectors always agree on one thing:
they receive more promises than actual payments.
During any conversation, the most common thing customers say is that they will pay their debts the following day. But in reality, the number of actual processed payments is usually a lot less than the number of promises made. This is why UPC Hungary, a subsidiary of Liberty Global, decided in 2016 to work with VCC Live towards developing a new way of collecting debts – instantly, conveniently, and securely. Today, we share our debt collection case study based on their experiences.
The debt collection case study
Debt collection today consists of two phases:
- a contact centre agent contacts a customer to remind them of their debt
- afterwards the customer chooses a payment method to settle it.
However, if these two phases can be successfully merged then the process can be made faster and more efficient. This is the main topic of our latest debt collection case study, which you can find in our Case Study Library. Introducing VCC Live Pay into UPC’s debt-collecting processes has allowed UPC’s customers to experience a new way of making payments. Furthermore, it also has given them a taste of what the latest technology can do for them. And, seeing that this technology actually works, and provides a flexible and secure way to handle debts, it also helps build customer trust in the UPC brand.
Read our debt collection case study and learn more about the benefits of VCC Live Pay, including actual facts and figures!