Customer Success Story
Maximizing Revenue Recovery: Transforming Customer Interactions At A Southwest Utility Company
The Challenge
The Southwest Utility Company had several pressing concerns:
- Manual Tag Process: Their existing manual tag process was resource-intensive and time-consuming. Field visits to delinquent customers were not only costly but also often resulted in delays in payment collection.
- Customer Service Metrics: The company aimed to enhance key customer service metrics, including the average speed of answer, service level, and abandon rate on inbound calls.
- Cash Flow: A consistent cash flow was crucial to the company’s operations, and they needed a more effective method for recovering outstanding payments.
The Solution
To address these challenges, TSI proposed a comprehensive solution:
- Automated Outbound Calls: TSI implemented an automated outbound notification system, making approximately 6,000 calls per day to delinquent customers on behalf of the Southwest Utility Company. These calls were designed to be transparent and non-disruptive to the customers.
- Identity Representation: TSI ensured that during interactions, they represented themselves as the Southwest Utility Company, maintaining the company’s branding and trust.
- Real-Time Transactions: Using the utility company’s Customer Information System (CIS), TSI was able to establish payment arrangements, process paperless check payments, and promptly answer customer inquiries. All transactions occurred in real time, ensuring efficiency and accuracy, payment processing through agents led to a significant increase in first-call resolution.
TSI also leveraged call pattern data to help the client optimize its IVR system, directing call volume to agents for optimal resolution. These enhancements resulted in an impressive $25 million increase in collections over the last year.
The Results
The implementation of TSI’s solution yielded remarkable results:
- Inbound Credit Calls: TSI’s efforts resulted in an average of 5,000 inbound credit calls daily. These calls were triggered by various actions, including left messages, delinquency notices mailed by the Southwest Utility Company, non-contact letters mailed by TSI, or general inquiries about electric bills.
- Increased Revenue Recovery: With a more streamlined and efficient approach to customer interactions, the Southwest Utility Company witnessed a substantial increase in revenue recovery. Delinquent customers were more responsive to the automated outreach, leading to quicker payment resolutions.
- Customer Retention: The proactive approach to managing delinquent accounts not only boosted revenue but also helped in retaining valuable customers. By providing exceptional service and resolving issues promptly, the company fostered stronger customer relationships.
In conclusion, the collaboration between the Southwest Utility Company and TSI not only revolutionized their approach to revenue recovery but also elevated their customer service standards. Through automated outbound notifications and seamless transactions, the company achieved its goal of increasing cash flow, minimizing field visits, and improving customer service metrics. This case study serves as a testament to the power of innovative solutions in transforming the utility industry.
Customer Experience/Care Management
Inbound & Outbound Voice
CX & Care Programs
Back-Office Functions
Performance Analytics
Flexible Global Staffing
Business Process Outsourcing
Data Input
Document Processing
Verfication & Validation
Exception Processing
QA Monitoring & Reporting
Business Analytics & Modeling
First Party ARM
1st Party Collections
Pre-Charge Off Program Support
Inbound & Outbound
Early Stage / Care Based
Brand Protection
IT Adaptability / Flexibility
third Party Debt Collection
Post Charge-Off
Primary & Secondary
Late-Stage Recovery
Innovative Technology & Approach
Propensity to Pay Analytics
