rostrvm for Collections is deployed by a wide range of organisations including utilities, local authorities and housing associations. Using proactive contact strategies they are able to meet debt management, customer acquisition and service interactions goals efficiently and more productively.
rostrvm for Collections also helps to increase and enhance customer engagement and focus on tackling issues before they become a problem, using best practice processes.
Water Market Reform 2017
A case in point is the water industry, which currently faces new challenges due to recent changes in the way the market works. Since April 2017, under the ‘Open Water’ market reform, over 1.2 million eligible businesses and organisations (non-household customers) in England have been able to choose their supplier of water and wastewater retail services.
This means the market has become more competitive – customers are looking for better value for money, lower bills and improved customer service – but it has also made it harder for suppliers to collect payments and retain their customer base.
To prevent cash flow issues retailers, who are already operating with extremely tight margins, will need effective debt collection strategies. At the same time, they must be able to maintain good customer relationships which engender loyalty. The right collections/service plan is essential to suit the needs of individual customers, who may come from diverse sectors and a range of business sizes.
Competitive markets drives efficient practice
The benefits of a competitive water market are not just for customers. It forces businesses to be more efficient in the way they are run and prompts them to offer a more tailored service for their customers.
Using rostrvm for Collections you can dramatically improve collection rates by replacing or complementing the traditional “three letters” approach with co-ordinated voice call, email and text messaging campaigns to solicit a response at every stage.
Regular customer contact can be achieved using the channels they prefer. For example, an automated text to remind them that their payment is due can be followed up by an outbound call offering a link to your website where their bill can be paid, or a number might be offered for them to call.
An outbound dialler with pre-set messages can also be used to put live contacts through to your collections team.
Resulting inbound contacts can be routed to the right person using our sophisticated contact routing system, saving time and staff resources.
To measure how your operation is performing our rostrvm Management Information system provides tailored dashboards and reports. They will make performance and business outcomes visible across your organisation, as required, so that adjustments can be made.
The water market is just one example; our technology can be tailored to work for any industry sector and customer challenges.
For further information call us on: 01483 494 690, or email firstname.lastname@example.org