Hi All,I am Akashdeeep and have commenced a project on Collections improvement for a BPO. Could you all help me identify potential factors which I could use in my project.Thanks in anticipation. collections-fishboneshare on ... Author Akash DeepPosted on January 15, 2017 6 thoughts on “Fishbone on Collections”While I don’t have experience in Collections Process, while I continue to think find immediate threads that come to my mind are: Pay day in that area- there are several parts in the US where employees get weekly or by monthly salaries. Hence the day on which the call was made could be a important determinant of whether the collections for successful or not.Contactability could be another determinant in this area. One of the key driver across the industry in collections renewals and things like that shall always be weather right party contact was established or not so for me another factor that could have key contribution would be contact percentage or right party contact percentage or any other metric of RPC that you choose.Log in to ReplyContact Rate: # of RPC/ # of connects Some of the skills effectively used in Collections industry for o/b scenario are: 1. Prime time calling i.e. when more likelyhood of speaking to customers. e.g. in US 1st and last hours of each time zone are 100% PT. Sat & Sun are also 100% PT. 2. Assumptive opening. eg Customer name Maria Jones. Collector would say, “Hi Maria”. If the lady on the other end says ‘Yes’, collector would confirm that he/ she speaking to Maria Jones. Once confirmed the call may proceed. 3. Getting past the gate keeper: This involves tact to get the 3rd party like a kid, spouse or partner or anyone else transfer the call to the RPC. As collectors we can advise that this is an important business call and needs to be addressed immediately. 4. Also during the Preview stage of the call, you may look for other relevant people. You may look for the them if the a/c holder is not around.Log in to ReplyThanks for sharing the view sir !!The day call were made can be the factor but how that any day can be identified like that because it’s not fixed that the group of customer/single customer is either in mood to make payment or not for particular day. (May be i am interpreting in wrongly. So, please help me out to understand correctly)Yes, RPC is the impacting factor to the collection.Log in to ReplyAkash, To increase the Promise Rate we would need to: 1. Generate the right urgency i.e. why its important for the customer to make payment like to prevent disruption of services, referral to 3rd party, impact on credit bureau ratings etc. 2. Bridging: listen and empathize with the customer. 3. Solution selling: like options to make payment over the phone or online without any extra charges. Provide payment plan etc.Please note that while performing the above activities, you also attempt to prevent Early Termination. Else, getting the RPC would not be useful.Once the Promise is taken, please ensure that: 1. You have recapped the arrangement 2. Recap what took place in the call. 3. You provide the ANA or advise next action 4. Close the call in an amicable manner with Branding.Log in to ReplyThank you for sharing your view Summit !!As you said that we need to deliver all the possible benefit to the customer which can be only availed by them with the earliest payment. This idea sound good but for delivering all to the customer to convince for the early payment can increase the handling time of the agents. And this can reduce the per day target of the agents to make a call.Log in to ReplyHi Akash, Regarding your concern on high AHT. The RPC % is always less. Usually its like < 30% in B2C environment. We do get no answers, third party, hang ups etc. These type of calls will contribute towards reducing the avg. AHT. Hence when we get hold of a RPC, its advisable to make it a complete call.Log in to ReplyLeave a Reply Cancel replyYou must be logged in to post a comment.