Higher contact rates – it’s the stat every collections operation strives for. More contacts means more promises. And more promises means more revenue. So it’s no surprise agencies, healthcare offices, asset purchasers, law firms, and every other collections operation under the sun are investing in technology that they hope will dial more lines and waste less time on the floor.
But performance matters too. After all, what good is the capability to dial a million lines at once if it makes your operations inefficient? You might be able to hit 300 MPH driving your car with a jet engine strapped to the roof, but is that really safe or the best use of your resources? Why not put your money into a Ferrari that’s built to hit that number off the lot?
How are you managing the risk? Even if you can get in touch with all of your accounts at once, every time, every state has different rules and regulations governing who you can call and when. Federal laws change all the time. Recklessness isn’t a trait that’s rewarded in collections – without the right controls, you won’t be dialing very long.
In this paper from Ontario Systems – Dialing Smarter: Technology, Performance, and Compliance – the leading provider of accounts receivable management and revenue cycle management solutions proposes a common solution to each of these issues:
1. When should a call go to a live agent?
2. What makes a system efficient?
3. What’s the best way to maintain compliance?