By showing innovation and giving the client a real solution to their problem, we became a key player in recovering a very big debtor book for a large metropolitan municipality.
The Debt-IN Challenge
In 2010 Debt-IN was one of over 20 companies to be awarded a debt collection contract for one of the country’s large Metropolitan Municipalities, following a tender process. The Municipality was operating in a challenging environment and had an outstanding debtor book of several billion Rands, with a large number of accounts disputed by customers.
The Debt-IN Solution - Plan of Action
We considered it critical to deliver exceptional performance from the outset, in order to differentiate ourselves from our competitors. We categorized our first debt handover primarily according to the age of the debt and the presence of queries / disputes. A detailed collection protocol was developed for each category.
The action plan included the formation of a team to specifically resolve queries and disputes. The rationale behind this was that debtors would pay once their disputes were resolved; thus an effective dispute resolution strategy was considered the best way to achieve our objective of collection.
Development of the Collection Project
Whereas we enjoyed some early successes, the real value in the project was unlocked when we started to realize collections that resulted from our query resolution strategy. Our query resolution team had been working from 7am every day, as they found that the most effective time to resolve queries was between 7am and 8am every day. This was due to the fact that the Municipality call centre was open during that time and fully staffed, but not very busy.
Results and Accolades
Through our unwavering commitment to present our clients with real solutions to their core problems, we have become an integral component in the Municipality’s path to success. Allow us to show you how Debt-IN can make a real and lasting difference in your business or organisation.