Optimized Collections

Unified Communications Application Optimized Collections™ The continual challenge that all collections contact centers face is how to maximize the . efficiency and effectiveness of the collections business process without adding headcount as delinquencies and charge-offs increase and new portfolios are acquired. Budget constraints can make it difficult to manage your collections center for optimal recoveries and success depends on people, processes, and applications working together to achieve the best results. Optimized Collections is a unified communications (UC) application for the contact center that unites campaign optimization, workforce management, and performance management to reduce your cost per collected dollar and deliver a new way to allocate resources, track performance and apply the most appropriate calling strategies at the best times. Whether your collections center is centralized or distributed, Optimized Collections brings your business rules, hard-learned best practices and administration into a centrally-managed platform. Unifying command and control of your campaign management and resource planning operations reduces costs and simplifies training for managers and supervisors. Work flows synchronize intraday tasks to reduce idle time, leading to increased collections results without additional staff. . © 2009 Aspect Software, Inc. All Rights Reserved. OPTIMIZED COLLECTIONS™ Increase Collections by Improving This ensures that you’ll always have the right Right Party Contact Efficiency Highlights number of collectors, with the right skills, Best Time to Call capabilities enable you to available at all times to handle the optimized — Increase collections by initiate phone calls to debtors at the times and outbound campaigns that are generated improving right party contact places they are most likely to be reached. This through the Best Time to Call capabilities. efficiency. improves your contact efficiency by increasing right party contacts and focusing your calling For blended operations, workforce management — Reduce costs by aligning efforts on the highest risk accounts. provides agent schedules that assure there is . staffing with Best Time to Call enough staff assigned in each hour to handle strategy. Patented algorithms track call result history both the most productive outbound calls over time and this information is used to predict and answer the inbound call workload that — Improve collector the best phone number and hour of day to outbound calling delivers. effectiveness by providing place calls. It then creates an optimized calling targeted performance strategy based on campaign objectives that are With today’s dynamic collections environment, feedback and coaching. prioritized by user-defined criteria. you need to be able to generate accurate forecasts by taking into account all pertinent — Boost productivity by helping Optimized Collections™ provides contact outbound and blended data, including historical collectors understand centers with a centralized, fully integrated data contact volume and campaign patterns, such as and optimize their own warehouse and records distribution engine for right and wrong-party connect ratios, as well as performance. creating and executing sophisticated contact user-supplied data, including campaign list size strategies and lists guided by real-time business and number of passes. This allows you to: intelligence that can dynamically build high- yield campaigns using disparate host data, • Reduce the number of staff required to meet Capabilities customer interaction history and complex campaign goals by forecasting the periods — Improve right party contacts business rules. of highest inbound activity and highest with Best Time to Call and outbound productivity with unparalleled The end result is fewer call attempts and contact list optimization accuracy to cost-effectively staff your center capabilities. improved campaign results, which translates and maximize revenue and efficiency. into lower telecommunications charges, • Respond to unexpected events by conducting — Leverage dynamic records increased revenue opportunities and higher distribution and business collections yield. a quick scenario analysis which can advise rules-driven work-flow. you of the impact of removing or adding Reduce Costs by Aligning Staffing with agents to the phone on an intraday basis. — Optimize collection calling Best Time to Call Strategy plans with outbound Managing a contact center workforce is no Maintaining the right number of collectors to and blended workforce simple matter, and adding in the complexities meet inbound, blended and outbound demand management integration. of the collections business process makes is just one component of managing your the task more difficult. Included workforce workforce resources. You also need to evaluate — Align workforce performance . management assures you have the right agents, and empower employees to ensure you are with operational goals across with the right skills, at the right time to deliver getting the most from them. your collections business high-yield campaign results, while maximizing process. the efficiency and effectiveness of your Included workforce management provides tools and tracking mechanisms that allow — Utilize coaching as a strategic outbound and blended staffing resources. you to empower your collectors to manage lever to improve operational With its unique synchronization capabilities their own schedules, while also tracking performance. across workforce management and campaign campaign and collector performance. Real-time optimization, Optimized Collections can schedule adherence tools and reports on agent seamlessly communicate with intraday performance and productivity ensure you’re collector staff management to plan outbound staffing to the plan you put in place, as well as and blended interaction strategies hour by hour identifying collectors or work groups who are for the day, as well as make intraday changes the most or least productive. dynamically based on staffing or list volume changes. 2 Unified Communications Application Optimized Collections™ © 2009 Aspect Software, Inc. All Rights Reserved. OPTIMIZED COLLECTIONS™ Agent empowerment enables collectors to Optimized Collections allows you to easily manage their own schedules via automated compare and analyze actual performance “Putting campaign management browser- and voice portal-based agent self- against your key business metrics by providing in place was a great move for service tools. It allows agents to bid on shifts more than 100 out-of-the-box workforce our business.