Modern life could be described as living in a “debt society”, where credit and not cash is king. Less than 3% of “money” in the UK exists as actual cold, hard cash and we are increasingly moving towards a time where even this tiny percentage will be further reduced as we continue to move towards a technological world where virtually every transaction will involve some kind of credit and be able to operate seamlessly 24/7. This is where methods such as IVR Payment can help.
Life Without IVR Payment
If you are a money lender or any other ‘credit’ provider such as an energy supplier, then it is vitally important for the efficiency and therefore profit of your business to keep up with this developing process. Different debtors have different methods to collect the debts owed to them but all will have experienced the frustration of chasing clients for payments and this is becoming increasingly difficult because of modern life.
With people living busy lives that take them further and for increasing amounts of time away from home; the window of being able to collect payments in person has dramatically narrowed and for many companies, due to location of business premises etc, may not even be an option. Calling people to collect payments over the phone can also be a frustrating process.
Clients may not be able to answer your call and even if they are happy to speak to you, may not have a method about their person of meeting the payment you are ringing to collect – thus this method of collecting payments is often a waste of your business time and resources. Alternatively, it could be that you; the money lender or energy company, do not wish to have to personally speak to clients; especially the more difficult ones. Even the clients who do want to meet their regular payments often want the choice and convenience of doing it in their own time and via any location.
How IVR Payment Options Can Help
This is where Callstream can help; bringing your needs and the needs of your customer together with Assist; a fully automated IVR payment service that operates 24/7, 365 days a year without the need for human involvement.
As phone management experts, our Assist solution has been especially developed for money lenders and those that offer credit, such as energy companies; offering them a cost-effective way to be able to receive payments where agents are completely removed from the process.
Callstream Assist is full of feature rich options, however, so you can always choose to divert calls to collection agents in the event of an issue with a payment etc. The PCI-DSS compliant IVR payment platform integrates seamlessly with existing systems and payment services to securely collect payments owed to you freeing you from the often lengthy and frustrating process of regulatory compliance.
All businesses, whether small or large, require regular cash flow and flexible, efficient working practices to maximise on profit, and we like to think Assist offers any organisation benefits with this forward-thinking IVR payment collection solution.