SoundBite

Every collections organization is under extreme pressure to reduce the cost of debt collection and shrink the collections cycle.

First-party collections departments must also streamline the collections process while maintaining a positive brand image and customer loyalty.

SoundBite for both primary and third-party collections teams delivers powerful results:

• Collect more revenue within a shorter period of time
• Dramatically reduce cost-per-contact.
• Enable automated collections payments and increase agent-less transactions.
• Accelerate resolution by turning cold outbound calls into warm inbound calls.
• Deliver higher overall results using fewer agents.
• Manage call volumes to keep agents busy, but not buried.
• Boost penetration rates with blended (inbound/outbound) campaigns
• Increase agent time spent with right party contacts—reduce wrong persons reached and hang ups.
• Ensure the highest quality customer interaction

Create powerful collections strategies that maximize results.

When the objective is to maximize revenue or recover more debt in less time, many clients use SoundBite to supplement their current calling program. Adding SoundBite campaigns to your existing best practices significantly increases penetration rates and overall contacts. You'll drive more Right Parties to your agents and connect with debtors before other creditors, lenders, or agencies reach them.  

When the goal is to maximize profit or maintain revenue at much lower cost, our clients use SoundBite as a "substitute" strategy, having found this approach to be most compelling in terms of P&L impact. SoundBite lowers cost-per-dollar-collected, drives more profit, and mediates the need to hire and retain full time employees. By substituting SoundBite for current manual and dialer-driven calling, it is possible to optimize call center staff levels. As labor is by far the most significant cost for Collections firms, doing more with fewer FTE saves money, provides consistency in your operations, and improves morale by putting agents in direct contact with more Right Parties every day.

Because Collections objectives and priorities can change frequently, a hosted voice messaging service can fit your processes uniquely, allowing you to adjust calling strategies as your objective switches from profit maximization to revenue maximization or somewhere in between. SoundBite's experienced consulting team has worked with hundreds of clients to optimize results before, during, and after calling campaigns. We routinely help clients analyze and improve their best time to call, call escalation strategies, IVR optimization, call intensity ROI, test vs. control comparisons, script optimization analysis, among other factors.  

In becoming a SoundBite client, you gain a team of experts that can help you determine your best overall calling strategy, build the most effective scripts, and make the right tactical adjustments to help reach your crucial objectives.

3rd-party Collections
Recover more debt in less time, increase right party contacts, and reduce operational costs.

Banking
Increase activations, encourage balance transfers, collect payments, issue fraud alerts, introduce new products and generate cross transactions.

Credit Card
Increase activations, encourage balance transfers, collect payments, issue fraud alerts, introduce new products and generate cross transactions.

Credit Unions
Increase credit card adoption, balance transfers, payment collections, and revenue-generating customer interactions while expanding the depth and breadth of member relationships.

Insurance
Insurance providers reach out to policyholders for both sales and service activities, while maintaining brand equity and increasing customer satisfaction with the quality of the company and its agents.

For media companies, the challenge after establishing an initial relationship is how to turn an audience into customers for life.

Telecom
Both telecom and cable operators compete for a larger share of the consumer's wallet by bundling voice, video, and data services and upselling premium offerings with promotional pricing. At the same time, customer service manages appointments, payment reminders, statement changes and more.

Utilites
Public and private utilities must deliver outstanding customer service, notifying rate-payers of service changes, scheduling service calls, collecting on delinquent balances, and more.