Debt collection technology is crucial to the advancement of debt recovery - it is utilising new technology to make debt collection as seamless as possible and take debt collection to the next level.
In order to keep up with current technology and methods for debt collection, utilising the right tech is essential. Not only are methods such as phone calls, letters and emails outdated but deliver poor success rates and alienate customers but they’re also not nearly as effective or as frictionless for getting customers to engage and discuss their outstanding payments and structure their payment plans.
Debt collection technology works with the customer, not against them.
Technology has proven to be a game-changer and gives the industry the chance to reform and shake that negative image and ultimately increase collection rates and efficiency alongside customer satisfaction.
There is barely an industry that has not been disrupted by technology and the collections industry is no exception. It is time to embrace the new.
This is where Webio, digital debt collection customer engagement specialists can help.