A BFSI/NBFC Company

A BFSI/NBFC Company

Case Study: Company XXX (A BFSI/ NBFC Company) - Enhancing Collection Efficiency and Client Satisfaction

A BFSI/NBFC Company, a prominent player in the BFSI/NBFC sector, is a subsidiary of Company XXX Holdings & Investment Limited. With a diverse product portfolio exceeding 100 products across 40 verticals, this Company prides itself on its mantra of "Do More, Earn More." The Company emphasizes rewarding and recognizing its employees and partners, fostering a culture of excellence.

This Company sought to improve its outbound services, particularly in the areas of current due and debt collection calls, customer satisfaction, and follow-up calls. Despite a countrywide presence and partnerships with leading firms and manufacturers, the Company aimed to enhance its collection efficiency and client acquisition processes.

iLeads implemented various solutions, including online sales by advisors, automation in call monitoring, hiring and coaching, and incentivizing agents based on performance. These strategies aimed to improve lead conversion, increase sales, and boost employee retention.

The scope of service for this Company included outbound calling, current due collection, debt collection, customer satisfaction, and follow-up calls. The key metrics for outbound operations encompassed data allocation versus conversion, call answering rates, collection achievement percentage, call quality, customer satisfaction, login hours, and talk time.

To address the client's needs, our team implemented advanced collection strategies, EMI collection processes, e-commerce card collection procedures, debt collection initiatives, and zero bucket collection methods. These efforts were aimed at meeting collection targets, ensuring smooth delivery, acquiring new portfolios, enhancing productivity, improving work quality, reducing debts, and increasing cash flow.

Through our collaborative efforts, this Company experienced significant improvements in its collection efficiency and client satisfaction levels. The pre-due date collection rate increased by a substantial percentage, while the collection rate for 00-30 days also saw a notable improvement. Additionally, the debt collection rate showed positive growth, indicating a reduction in outstanding debts and an increase in cash flow for the Company.

By leveraging our expertise in outbound operations and debt collection management, we helped this Company achieve its objectives of enhancing collection efficiency and client satisfaction. Our tailored solutions, combined with a focus on meeting key metrics and delivering results, contributed to the overall success of the project.