In today’s fast-paced digital landscape, debt Collections agencies face numerous challenges in efficiently managing their operations and maximising recovery rates. Traditional debt collections methods often fall short, resulting in suboptimal outcomes and strained customer relationships. This is where smart debt collector platforms come into play, leveraging the power of artificial intelligence (AI) and advanced analytics to revolutionise the debt collections process.
Smart debt collector platforms harness the potential of AI and machine learning algorithms to analyse vast amounts of data, identify patterns, and provide actionable insights. By leveraging this data-driven approach, these platforms can optimise Collections strategies, tailor communication methods, and personalise customer interactions. This intelligent decision-making process ensures that Collections efforts are targeted, effective, and compliant with regulatory requirements.
By embracing smart debt collector platforms, Collections agencies can unlock new levels of efficiency, effectiveness, and customer-centricity and comparatively increase the average debt recovery rates within the first 6 months through the full optimised AI approach.
The DCS Collections Strategy Optimiser represents a paradigm shift in collections management. By harnessing AI capabilities, it seamlessly integrates with Pega’s Customer Service Collections case types, offering three distinct customer journeys. These journeys serve as a roadmap, gradually transitioning organisations to fully AI-optimised strategies for orchestrating customer interactions. With Generative AI technology, customised treatments are tailored to individual customer personas, elevating the overall experience.
This offering empowers businesses to adopt AI at their preferred pace through pre-configured customer journeys. By combining proactive and reactive communication strategies, it enhances engagement and responsiveness, leading to improved KPIs crucial for Collections. Built on the Pega Customer Decision Hub (CDH) platform, it can consume data via industry standard integrators, accelerating the transformation of traditional Collections processes into customer-centric journeys.
With our DCS Collections Strategy Optimiser, you can:
- Empower your customer care agents with AI-driven, automated payment plans tailored to individual customer needs, enhancing personalization and customer satisfaction.
- Mitigate risk and accelerate time-to-value with our pre-built Action library and Customer Journeys, enabling a seamless adoption of AI at your desired pace.
- Choose from our extensive library of implemented actions to replicate or extend your existing contact strategy, combining proactive (outbound) and reactive (inbound) communication strategies, fostering enhanced engagement and responsiveness.
- Embrace the optimal features of Pega CDH (Customer Decision Hub) with the guidance of our 1:1 Engagement experts, transforming your Collections contact strategies through the right implementation approach, starting from aligning your data with Pega’s xCAR data model to Day 1 utilisation of Ops Manager.
- Consolidated end-to-end solution combining Pega CDH decision-making with Pega Customer Service™ functionalities.
- Utilises decision-making technologies to configure Collections journeys, optimise outbound communication and provide real-time recommendations.
- Enables creation of tailored payment plans based on individual customer profiles and propensity to pay.
- Leverages generative AI for developing customised treatments and interactions.
Ready to revolutionise your Collections processes? Embrace the future of Collections management with the DCS Collections Strategy Optimiser. Find our Collections Strategy Optimiser on the Pega Marketplace or reach out to the team today to learn more about how you can optimise strategies, enhance engagement, and drive operational efficiency.
About the author
Pallavi Lengde is a Lead Decisioning Architect (LDA) at Decision Consultant Solutions (DCS), where she has been working for over a year. With a decade long experience in the Pega ecosystem across the Banking, Financial Services, and Telecom sectors, Pallavi plays a pivotal role in enabling Decisioning as a Service capability offered by DCS. Her technical expertise spans Pega, Teradata Customer Interaction Manager (CIM), and Celebrus, which she leverages to drive innovations in decisioning and 1:1 customer engagement solution. As an active member of the Design and Innovation squad, Pallavi has been instrumental in exploring automation opportunities for Collections and creating feature-rich demos. Her blend of technical proficiency and consultancy skills has enabled DCS to deliver personalised customer engagement solutions that drive measurable value for clients across various industries.
About DCS
We are a Pure-Play Pega Partner and team of decisioning experts providing advisory, implementation and on-going managed services for enterprise clients globally. Working in partnership with enterprises, we help leverage the power of Pega’s AI, next-generation AI and decisioning capabilities to deliver 1:1 Customer Engagement, Credit Risk and Intelligent Automation solutions. With offices in the UK, Netherlands and India coupled with planned expansion into the US and APAC markets our team of over 100+ Decisioning Consultants have expertise across a range of industries – including Financial Services, Communications & Media, Insurance and Retail sectors.
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