Optichannel Payments: A New Trend You Cannot Afford To Ignore

Roland Háry
September 18, 2020
September 18, 2020
5 min read
#Technology

With consumers connected more than ever, effective communication is key. This is especially true when looking at the way that companies leverage the channels that they use to engage with their customers. Channels can mean phone, SMS, chat, video, and more. Currently, customer service is dominated by the concept of leveraging several channels with the aim of aligning customer communication. First, it was multichannel, later omnichannel, and now companies started to explore optichannel communication.

Why do companies need to align in the first place?

When it comes to customer experience, it is essential for companies to offer channels that fit their customers best. However, for every customer interaction, this could mean something different. One might prefer text while the other might want to handle their interactions over the phone. Additionally, certain issues require different channels. Therefore, agents need to be able to easily use different channels when talking to customers and be able to backtrack interaction regardless of what channel they used. This is where channel alignment comes into the picture.

Alignment methods

There are various terms when talking about channel alignment. The most often used are multichannel and omnichannel. Multichannel communication means leveraging several channels when interacting with customers. Omnichannel communication takes things to the next level. It alignings the channels utilized, letting agents switch easily between multiple channels, in order to meet specific customer needs. However, optichannel is slowly taking over these methods. Optichannel not only allows agents to easily switch between preferred channels but also takes into consideration the goals of the interaction and specific customer data when determining the optimal channel for communication.

The immediate options that an optichannel solution offers are often the most convenient options for the customer. Think about voice assistants. For some, it is a useful tool. However, if the customer at hand does not use this channel, offering it to them would be an unnecessary disturbance. Effectiveness and simplicity are key when it comes to providing a good customer experience.

Optichannel payments

The combination of personalization and efficiency means reduced cost and time when it comes to payment as well as other banking transactions. With an omnichannel approach, customers can choose their preferred channels, with an optichannel one, they are already offered the most optimal one, without the burden of choice.

Optichannel debt collection

When it comes to debt  collection, omnichannel solutions are becoming essential for a seamless interaction. With VCC Live’s optichannel debt collection technology, real-time payments can be made, along with dynamic software suggestions that move debtors to the most efficient communication channel. For example, when handling specific clients, the software takes into consideration a number of attributes, such as the amount overdue, the number of payments missed, CRM score, or the location of the debtor alongside other metrics.

Given this data, VCC Software segments groups of debtors and handles them accordingly. For someone owing 50 euros,  VCC Live software might offer her self service payments through an IVR call. Once the payment is made, the agent can send her a confirmation SMS. For someone owing you 500 euros, the system gives the option of talking to a live agent who offers a promise to pay agreement, the terms of which are sent out via email. For someone owing you 1500 euros, VCC Live’s optichannel solution will assign your best agent to the case, negotiating the payment terms directly.

With an optichannel solution, you can make sure that you are concentrating your human resources in the places necessary, saving time and costs. Additionally, all the relevant metrics of your debt collection campaign can easily be followed in real-time by managers and supervisors.

Aligning your communication channels is key, whatever sector your business is in. Optichannel software takes into consideration the goals of the interaction and specific customer data. This is especially important when it comes to payment and debt collection. VCC Live software optichannel solution offers intelligent solutions to any number of diverse customer interactions, handling customers according to their previous history and the amount of money that they owe. With an optichannel solution, you can make sure to provide a seamless customer experience, no matter what client you are handling.

Roland Háry
Roland Háry is Customer Success Manager for English and German-speaking clients at VCC Live®, helping organizations overcome their customer experience challenges.
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