What Do Inbound Call Center and Debt Collection Software Have In Common?

Traditional collection agencies relied heavily on outbound communication to connect with debtors and to collect past due debts. With time and the introduction of new software and debt collection techniques, change was inevitable. 

Today, modern collection agencies are leveraging more, including inbound call center software in addition to powerful debt collection software that pushes better visibility for their agents. 

Out with the old, in with the new

With the introduction of features such as omnichannel (SMS, email, chat) into debt collection software, agencies are now better equipped to handle a more comprehensive array of consumers and debt. Not all call center software solutions are equal and the same can be said for the debt collection software agencies use. 

Recognizing how important it is for both your inbound call center and debt collection software are to each other is the first step to finding daily efficiencies for the entire organization. 

Each of these features is designed for a specific purpose or task. To get the most out of your software, whether for your inbound call center or debt collection, finding solutions that fit your business is essential. 

I prefer an organization that covers the three ‘F’s’—fast, flat, and flexible.

Before we get started on our list, we must remember that inbound call center and debt collection software platforms that are SaaS-based, like TCN’s call center software Operator, offer the most flexibility and commonality. Each of these features outlined illustrates the power of integration and the cloud. 

Let’s take a closer look at what inbound call center and debt collection software have in common.  

Data Management

A recent study showed that a typical call center has anywhere from 162 to 347 terabytes of data stored on average. That is enough storage for a non-stop 42-year movie.

Data Management Services from TCN allows a call center to augment, review, enrich, and filter data easily and contextually. Serving as a central data repository for advanced data management, LMS allows for increased visibility and greater administrative control. In this case, the benefits for outbound call centers are the same for inbound.

Reporting

Every day, call centers receive large amounts of data. IVR inputs, omnichannel agent communications (voice, email, text, and chat), voice analytics, and payment information, to name a few. In short, it is a lot.  

Both inbound call center solutions and debt collection software will be able to play nice as they pass information back and forth from each other. Some owners do not see the value of unleashing the many benefits of business intelligence in your call center. 

User Permissions

It is common for cloud-based software solutions to have specific permission controls.

Owners, managers, agents, human resources and other staff all have delineated duties. Each software application used should have the flexibility to add users and permissions based on job, title, and need. 

For example, agents should not have permission to view reports or even create custom reports. That is set aside for a manager or data analyst. 

Automation

There are several components to solving the fundamentals of automation to build a productive collections floor.

Look at your entire organization and see where the most time is spent — start there. Before doing so, you must first identify: 

1. Repetitive, everyday tasks that must get done to satisfy basic customer queries.

2. Complex, human-oriented tasks that require a high degree of empathy and understanding to satisfy serious and vital customer issues. 

Let your call center do the work for you by leveraging automation for mundane tasks. Both your inbound call center and debt collection software can automate things like building and analyzing reports, monitoring agent activity, or spotting potential compliance issues. Utilizing automation in both can improve overall call center performance and customer experience.

Deciding to automate can be easy and provide a competitive edge when using common software stacks. 

Compliance

Being compliant is a team (and software) effort. Regardless of call center software or debt collection practices, a streamlined, integrated approach works best to staying compliant. 

TCN’s call center Compliance Suite compliments any solution. Features like Natural Language Compliance and human intervention manual dial will raise the bar on your compliance initiatives.

Check out our TCPA Call Center Compliance Guide for a complete rundown on how to improve your compliance operations with TCN.

Integration

A key factor for increased functionality between the two platforms will depend on the call center integration and APIs. Cloud-based solutions typically have the most flexibility. Using a solution like TCN for your inbound call center software 

Final Thoughts on Deployment

Throughout, I have touched on the use of the cloud and the many benefits it can have. While some on-premise solutions offer limitations to common use cases, cloud-based call center software and debt collection solutions provide maximum flexibility. 

With the recent launch of TCN Operator, this next generation of inbound call center software is more apt to tackle the nuances of features and integrations, regardless of what debt collection software your agency is using.

Request a demo for more information on how TCN can help your call center leverage the most efficient inbound call center software on the market