Which Are Must Have Tools for Collection Agencies?

Posted by Mike Hussain on March 30th, 2021

The number of collection agencies is rapidly increasing across the globe, including India. Multiple call centers are now switching their operational area dedicatedly to the collections because there are huge and abundant business opportunities lying for collection agencies.

To run a successful collection agency, you will need the right team and tools. Selecting and training the team can be handled by your HR team, but the selection of the right tool needs your time in research and selection. In this article, I will share brief information on the tools that are the most important and must have ones in the collection agencies. So let’s begin.

1. Call center solution with collection module and omnichannel communication support

A call center solution is one of the most important tools to run calling campaigns in collection agencies. The first tool, the collection agencies consider buying, is definitely a feature-rich call center solution. The auto dialers like predictive dialers and preview dialers are must have features in your call center solution. Your call center solution should also have a sticky agent and skill-based call routing feature to handle incoming calls from customers. It should also have other features to make sure customers are handled correctly and the agents are working with the highest productivity.

A call center solution is a fundamental tool required by the collection agencies, but only a call center solution cannot meet all the requirements of collection agencies. There are several complicated actions, which a collection agency needs to take care of such as grouping and filtering the leads; showing custom fields with validation to agents, etc. Therefore, it is necessary for a call center solution to have those features to support the operations of collection agencies. A renowned company offers a collection module, which is designed and developed for collection agencies. It is a must-have feature in your call center solution if you are or going to run collection campaigns. It will reduce multiple manual and tedious operations.

The collection agencies should also get an omnichannel call center solution, which supports unified communication channels like:

• Voice call
• SMS
• Email
• WhatsApp
• Facebook
• Social media profiles
• And more

Having all these communication channels integrated into the call center solution can give an even powerful tool for the collection agencies to run more effective collection campaigns. 

2. CRM solution

The collection agencies should also get the CRM (Customer Relationship Management) solution. This solution lets collection agencies store all the information about the customer with all the details from the very first transaction to the last transaction. This information will help agents in personalizing their scripts to make sure the call continues in a positive direction. The collection agencies should get both, call center solution and CRM software, integrated with call center CRM integration. It will make sure that all the important information about the customer is shown to the agent within CRM software and any changes made in any one system gets reflected in another automatically. It saves time and bestows many other benefits. 

Author Bio

Author works in a company that offers a call center solution with custom integrations like call center collection integration, call center WhatsApp integration, call center CRM integration, etc. You can also get VICIDial customization.