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Being Prepared Pays Off: How to Manage for a Digital Future

November 16, 2020

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    Webinar Recap

    The biggest challenge many collections professionals face is connecting with customers to customize the modern collections experience and get paid. We all know that older telephony channels are inefficient and fail to meet customers where they spend all their time…on digital channels.

    Our Webinar Covered the Following Topics:

    • How trends and data fully support a digital future
    • How to build a business case for digital
    • The quantified value of digital from a customer standpoint
    • The benefits digital engagement will have on effectiveness and efficiency

    Many organizations lack the time, knowledge of digital, or the transformation experience needed to execute a digital plan quickly and effectively. Additionally, those digital needs cannot be prioritized without a business case.

    This is why we focused our webinar on the digital imperative for default.  Michael Orefice, our digital collections expert, led this 30-minute conversation on making digital a priority.

    Click here to see the deck, which shows data and next best steps on your path to digital channels adoption.

    Quick Snapshot of What We Learned

    This webinar helped demonstrate the need for digital capabilities to enhance the customer experience. Common services like ordering pizza and shopping online are integrated across multiple digital channels, allowing customers to decide how they want to interact. So, why should collections be any different?

    Polling response reinforced the need for digital:

    Question 1: How often do you answer an unrecognized number on your mobile phone?

    Never:  37%

    Rarely:  58%

    Question 2: If you were past due with multiple creditors, which would you pay first?

    11%: the creditor that calls you until you speak with someone to make payment arrangements.

    89%: the creditor providing access to a website and FAQs, also allows financial information exchange and payment options that might work at times more convenient to me.

    Question 3: What’s the fastest you’ve ever completed a technical project?

    > 6 Months:  50%

    < 6 Months: 50%

    Missed this webinar? Check out what was covered by downloading our one-pager recap and start your digital collections transformation today.

     

    SPEAKER: Michael Orefice, Director IT Practice

    Michael Orefice

    Michael has successfully transformed clients’ digital capabilities. He has the playbook and experience to rapidly transform default capabilities, with over 25 years of experience in the collections space.