Collect Faster and Improve Customer Communications
ContactEngine customers are seeing results like:
- 15% increase in customers making a payment
- 19% increase in customers removed from collections
- 22% increase in dollars received
- 20% decrease in days to payment
- 45% increase in payment arrangements
Data driven Insights with added opinion
Data driven Insights with added opinion
Increase ROI, Reduce Risk and Improve Collections
With ContactEngine’s powerful AI engine, you can:
- Automate 75% of your collections journeys: by accessing customer data and engaging in a proactive, 2-way personal interaction with the customer
- Reduce time to collect and the impact on revenue: by engaging more customers earlier in the process, solving issues and arranging payments
- Increase payment rates: by identifying customer intent and offering an automated and straightforward in-channel payment / payment option
- Reduce call-center volume – by freeing up call agents to focus on more complex cases
How ContactEngine reduces costs and improves customer service
trigger
conversation path
intelligent conversation
if needed
to client systems
Case Study:
Using SMS to Increase Collections Payments
One of the leading North American Communications Service Providers (CSPs) implemented ContactEngine using their short code and compassionate communications to test the effectiveness of SMS collections communications. In just the first week of the collections treatment process, the use of intelligent, natural language AI, dynamic engagement strategies, and easy-to-trigger payment transactions were shown to increase payments received by 15% and payment arrangements by 47%.
This result stems from the ability AI technology has to identify customer intent and offer an automated and straightforward inchannel payment or payment arrangement option.
And results for the CSP:
- Payments: A 15% increase in customers making a payment
- Cures: A 19% increase in customers removed from collections
- Amount paid: A 22% increase in dollars owed were received
- Payment arrangements: 47% increase of payment arrangements
were negotiated - Days to pay: 20% decrease in days to make a payment
The company saw the greatest financial impact with 22% additional dollars collected, followed by the reduction of days to pay by 20%.
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