Debt collection is undergoing fundamental changes. In the last six months alone, there has been a ream of calls for a new, “ethical” approach to debt collection, led by the Treasury Select Committee, local authorities and organisations including Citizens Advice and the Money Advice Service.
Utilising innovative communication technologies has become integral to not only improving the rate of collection but also ensuring more robust action is restricted to a minimum to make sure customers are treated sensitively and empathetically. The approach, it is hoped, will improve the treatment of those who owe debts and ensure individual circumstances are considered throughout the communications process.
Here is an overview of how leading-edge communications technology can help save your company money and enhance the collections process.
1. Save Money
One of the biggest benefits an organisation receives by utilising a Hybrid Mail solution can be seen on the bottom line. Significant savings can quickly be made against the cost of paper, printing, and postage, as well as the ongoing costs associated with warehousing, office printers and franking machines. When using Hybrid Mail, post is sorted and consolidated to achieve maximum postal discounts, and by printing documents at a centralised location companies can achieve significant economies of scale. Print and post your mail from as little as 43p, and give you the control to track each user’s spend.
2. Help the environment
Hybrid Mail helps the environment in several ways, and also serves to reduce a company’s carbon footprint. One of the most significant ways this can be achieved is through a huge reduction in transportation, with consolidated mailings meaning fewer miles driven for delivery, and less CO2 emitted. Hybrid Mail can also substantially reduce paper wastage, with suppliers able to manage acquisition and storage on their client’s behalf. Customers only pay for the paper they use.
3. Save time
Another key benefit of a Hybrid Mail solution is the time it saves an organisation. By combining the efficiency of the digital age with the reach of physical mail, companies can increase the speed of delivery and reduce the time it takes for a letter to be printed. This improves a business’ overall efficiency; A Hybrid Mail solution can save one day’s worth of staff time for every 100 letters sent. Live tracking from upload to post also gives complete visibility, reducing the amount of time spent chasing up inquiries.
4. Give staff more fulfilling jobs than stuffing envelopes
By freeing up your staff from the manual processes of printing, franking and posting letters, Hybrid Mail allows them to focus on jobs which can have a greater impact on a business’ overall performance. Whether that’s allowing them time to concentrate on interacting with customers to improve their experience, or developing new products and solutions to improve a company’s offering, Hybrid Mail gives a business the opportunity to get the most out of their employees. Taking the stress out of mail will lead to a happier workforce.
5. More accuracy gets your message across the first time
Hybrid Mail gives a company significant control over their brand and messaging. By centralising communications using standardised messaging and templates, businesses know exactly which message is going to which customer. Live tracking also lets a business know where their communications are, every step of the way. By freeing up staff resource, Hybrid Mail also enables a company to keep on top of their data. Reducing failed deliveries by maintaining and cleansing customer data not only saves money and time, it ensures that customers are receiving exactly the right communications when they need to receive them, and reduces the burden on customer service staff who have to process inquiries from confused customers when communications don’t arrive when or where they should.
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