With almost every component of our consumer’s lives being ingrained into the digital world, it comes as no surprise that the future of collections lies heavily in a more digi-focused model. The question, though, is with the rise of automated technologies, how automated interactions fit into the ever-changing future of the ARM industry.
Automation is becoming more prominent in the ARM industry as automated scheduling, workflow, and interactions come to light as the best means to reach consumers. Because automation is able to handle time-consuming tasks while simultaneously enhancing the consumer experience, it seems to be a complete one-stop-shop for productivity and efficiency enhancement.
Creating a Frictionless Consumer Experience
Even though the collections industry has been quickly elevating into the digital age, manual collection practices are still being seen as one of the more prominent ways to reach consumers. While it is hard to kick old habits, initiating manual collection campaigns not only drastically increases your overhead costs and your agent’s average handle time, but it puts your business in a difficult position where you’re essentially ‘walking against the wind’ to get to your consumers. Because your consumers are living in a digitally automated world, they expect to be met there by every business that wants to communicate with them. Utilizing automated communication to meet your consumers where they want to be met helps creates a frictionless consumer experience by:
- Conveniently allowing them to handle their debts at their own time and place.
- Giving them with a form of “self-serve” option
- Leaving them with a resolution-driving mentality
The Right Automation Technology
The key to success in an automated future is by leveraging the right technology for your business. DirectDrop Voicemail is a technology that helps businesses in the ARM industry leverage the power of automated interactions in their business. Working with your current strategy to help you optimize your bottom line results, DirectDrop Voicemail leaves a voice message directly on your consumer’s mobile phone without the intrusion of a call. This allows your consumers to respond at their convenience while your agents stay focused on answering incoming calls instead of less efficient outbound dialing.
Ready to bring your business into the future of automated interactions in a meaningful way? Reach out to us here with any questions you may have or to get started with a free demo.