Voicebots in debt collection companies: A new era for the industry

Can you imagine a world where debt collection is no longer associated with intrusive calls and endless bureaucracy? In this world, AI voicebots take the reins, offering solutions tailored to each client’s individual needs. Instead of frustration and uncertainty, debtors can expect an empathetic approach and clear, understandable repayment options. Let’s dive into the latest world of AI voice assistants in debt collection and discover how this technological revolution is changing the game, bringing benefits to both companies and their clients.

AI voicebots in the service of debt collection automation

According to the latest statistics, payment delays and outstanding debts have reached 84 billion PLN, with the problem of unpaid invoices affecting one in four companies in Poland. This means that speed and effective communication are even more crucial in the debt collection field. With AI voicebots, many debt collection processes can be automated. Primarily, they facilitate automated client contact. Using AI, appropriate communication pathways can be designed via phone calls, emails, SMS or messages on social media platforms.

Through the contact center, the bot can quickly and efficiently obtain key information from the caller regarding the case and provide answers to questions such as:

• Information about overdue payments,
• Confirmation of payments made,
• Current account balance,
• Reminder of upcoming installment due dates.

Voicebot and negotiation skills with clients – efficiency in debt repayment

Debt collection companies understand how challenging negotiations with debtors can be. It is no surprise that they increasingly seek alternatives to traditional employees, including AI-based solutions. Digital voice agent technology has been available for several years and is significantly more efficient than human personnel. A voicebot can conduct conversations with debtors in a manner similar to human employees. It is responsive, dynamic and capable of handling millions of calls in just a few days. It’s worth noting that the algorithm operates without unnecessary emotions or fatigue and it is faster and significantly cheaper than traditional debt collectors. Behind the voicebot is an advanced IT system that can be tailored to the specific requirements of a given implementation. This allows for the design of certain processes to operate according to a set scheme. Debt collection companies can also offer 24/7 service through voicebots, which is especially important for clients who may have limited contact opportunities during standard business hours.

AI voice consultant – Sentiment analysis technology

Sentiment analysis, which assesses the emotions expressed during a conversation, is another tool that can be used in debt collection. AI voicebots can analyze phone calls to evaluate the debtor’s attitude and adjust communication strategies accordingly. Furthermore, based on their reactions, the system accurately segments debtors according to their profiles and behaviors and selects the communication method appropriate to the situation. These systems are even capable of negotiating with debtors and reaching settlements, increasing the chances of full debt repayment.

Voice assistant guarding the call center: stop fraudsters!

Fraud detection is another area where AI voicebots can bring significant benefits. AI algorithms can analyze behavior patterns and detect anomalies that may indicate fraud attempts. This allows debt collection companies to respond more quickly and effectively to potential threats, minimizing financial losses.

Debt collection industry – data collection and analysis processes

Thanks to automatic conversation reports, consultants have an easier time conducting analyses and better utilizing their results to forecast debtor reactions. This also allows for real-time monitoring of debt collection progress and voicebot performance. Reports enable tracking key performance indicators (KPIs) and assessing the return on investment in the automated debt collection and receivables management process. Data collected by voicebots can also be used to continuously improve debt collection processes, identify areas for improvement and implement more effective strategies.

Compliance with laws and regulations

Voicebots can be programmed to operate in accordance with applicable laws and regulations, which is crucial in the debt collection industry:

• Automated Compliance Tracking: Voicebots can automatically record and document all interactions with clients, making it easier to monitor compliance with regulations.
• Process Transparency: With precise conversation records, companies can more easily conduct audits and demonstrate compliance with legal requirements.

Benefits of voicebots: Artificial intelligence in action

Intelligent assistants are special-task assistants. They have many advantages, the most important of which include:

• Faster debtor reach,
• Reduced call costs,
• Increased efficiency of the debt collection process,
• Allowing employees to focus on more complex debt collection cases,
• Faster processing of debt collection tasks,
• Adaptability to company policies and debt collection scenarios,
• Better customer service through professional communication,
• Full control over the debt recovery process.

Voicebot in debt collection: Demonstrating effective debt recovery

1. Provident Poland

Provident Polska, a leader in the consumer loan sector, implemented voicebots to handle customer contacts in the debt collection process. By automating reminder calls for overdue payments, the company recorded a 15% increase in on-time repayments. Voicebots can precisely tailor messages to individual client needs, significantly enhancing debt collection efficiency.

2. Kruk S.A.

Kruk S.A., a well-known company specializing in receivables management, used voicebots for sentiment analysis and personalized client conversations. The voicebot e-Milia identifies the emotional state of the caller and adjusts messages, contributing to more constructive conversations and improving recovery rates by 25%.

3. Ultimo S.A.

Ultimo S.A., one of the leading debt collection companies in Poland, implemented voicebot technology for 24/7 customer service. This allowed the company to offer flexible contact hours, increasing service availability and improving customer satisfaction. Voicebots effectively managed the debt collection process, enabling the company to increase recovery rates by 18%.

As we can see, AI voicebots are ready for the debt collection industry. In this new reality, it is no longer associated with stress and uncertainty but becomes a more manageable and understandable process that benefits all involved parties.

If you are looking for an effective and modern way to manage the debt collection process, EasyCall’s voicebots are the ideal solution. Equipped with real-time data analysis and processing capabilities, they not only speed up the debt recovery process but also provide more personalized and effective interactions. Take advantage of EasyCall’s AI solutions to revolutionize your debt collection strategy, reduce operational costs and increase customer satisfaction.