Customer focused collections

Procter works with clients to enhance customer relationships while driving increases in money collected and promises to pay. 

See how we helped Lloyds Asset Finance create a 650% increase in cash collected !

Delivering a collections strategy that balances the needs of the customer with the needs of your business is essential in today’s highly competitive collections environment.

More customers involved in debt scenarios present new challenges for companies in terms of analysing and segmenting debt and deciding on a strategy to pursue.

This also presents great new opportunities

• increased competition for share of disposable income amongst the customers' with multiple creditors
• retaining current debtors as long term customers through service
• increasing customer loyalty

It is the interactions of your collections teams with your customers that will drive your success in competing for repayments and in retaining loyalty. Ensuring your people have the right tools for the changing face of collections is more important than ever before.

Procter research has shown that from a customer point of view success is measured in terms of how well collections teams are able to Reassure, Relate and Recommend/Resolve.

Reassure me – have the confidence to have a natural, adult conversation with me and build a platform of trust that I am speaking to someone who is capable of helping me/providing value
Relate to me – extend your conversational skills into a tailored and personalised experience for me by adapting your communication style and questions to match my agenda in balance with the company’s agenda
Recommend/Resolve – have the credibility to shape the conversation to reflect a balanced agenda and provide me with solutions that work for me – and your organisation