Bill Past Due collectionsToday’s collections organizations need to leverage every tool available to help drive revenues and minimize the exposure to risk. So, where is the most logical place to look to improve? Its starts with your agents, of course!

Few contact centers have perfect agents. But even if you are one of the lucky few, how can you be absolutely sure that your agents flawlessly follow the script you have laid out, or that they remember exactly the right things to say from the training class they took when they were first hired? Can you realistically live monitor or even listen to recordings for more than just a small fraction of agent conversations? The answer to these questions for most contact centers is typically no… And that’s why you should be seriously considering speech analytics technology for your contact center.

Speech analytics technology makes it simple for organizations to identify agents who need improvement, allowing managers to focus their efforts on building better, more repeatable, and compliant collections processes. For example, you can set up templates that look for the most common weak spots around compliance during collections calls, such as agents needing to always state the mini-Miranda disclosure at the onset of the interaction, using them to ensure your agents get it right every time.

Speech-to-Phrase Recognition

The unique Speech-to-Phrase Recognition™ engine within Genesys Speech Analytics analyzes your call recordings to identify and triage compliance issues. Where standard speech recognition technologies look only for words transcribed from, or combinations of phonemes within, your agents’ conversations, our patented speech-to-phrase engine increases recognition accuracy and delivers the most accurate and comprehensive speech analytics results available in the marketplace.

Speech analytics also drives agent productivity and collections performance. Ensuring that agents are always asking for a payment in full or that they are offering the highest settlement amount to debtors before lower ones will help drive collections and improve your contact center profitability. By monitoring usage of these and other critical collections skills (which must be expressed as phrases), and precisely targeting agent training and coaching activities accordingly, Genesys Speech Analytics can dramatically increase your collections revenue!

Sounds intriguing? Join us for a webinar with TMCNet on December 4. You’ll learn how speech analytics for collections has helped companies increase revenue collected by more than 20%, while improving compliance from 59% to 99%, delivering benefits in the following areas:

  • Optimization: Improve campaign management, monitoring, and agent utilization
  • Compliance: Develop templates to identify weak spots to improve compliance
  • Analytics: Get insightful reporting that enables decisions to optimize campaign strategies and performance
  • Multi-channel: Integrate speech analytics into your multi-channel collection strategies
  • Low Risk Deployment: Evaluate our solution through an easy to set up proof-of-concept

The most important resource in your contact center is your agents! They are also your most expensive one!

Check out the on-demand webinar today!