By Emily Faracca – On
Increasing accounts worked while reducing number of agents sounds impossible, right?
Every agency out there runs on different KPIs. Whether it's total $$ collected, accounts worked per day, calls made or numbers skiptraced. Whatever the metrics are, every agency wants to know how they can accomplish more without increasing overhead.
Meanwhile, more and more software is being built to accommodate the debt collection industry. With one billion contacts and 30 million collections made annually, it makes sense to invest time and attention to this industry.
For agencies, however, it's not as simple as choosing the fastest or most cost effective software and running a dialer all day. I don't have to tell you this!
Strategy plays a huge role and can turn the right software into a significant profit increase. We're going to demonstrate this by showing numbers from Galbo Sims Holdings, LLC.
Below you'll see figures pulled from one month. In yellow are figures from March 2018. In blue, numbers from March 2019.
This agency reduced overhead by 56 percent while increasing revenue by 141 percent. So how did they do it?
When an agency gets a new file that’s been fully skipped and back from batching, it’s expected that they may not touch all the numbers on that file. Many of the numbers are disconnected, go straight to voicemail, or simply wrong.
Galbo Sims Holdings, LLC uses Arbeit Click to filter through these "bad" numbers.
Arbeit Click is a TCPA compliant outbound calling solution that allows agents to make up to 200 calls per hour, per agent. The feature-rich software allows agents to make custom dispositions so a call list can easily and quickly shrink to a list of only good numbers.
So, they use Click’s custom dispositions to create a “Good Numbers” status. (An example of good number would be one that ID’s the person you are looking for on the voicemail.)
Because of Click’s second layer of human intervention, the agents are the ones that act as voicemail detection – and they ARE smarter than the robots that normally do it. Therefore, the agents are able to label a number as a good number with 100 percent accuracy.
Once that’s done, they have a list of only “good numbers” to call.
They take the list of good numbers and run in through Arbeit Dialer, a powerful broadcast dialer. Then they sit back as inbound calls flood in.
It’s more than just a way to clean up accounts. In fact, according to data from just one batch of numbers, the agency was able to eliminate 90 percent of numbers that were “dead” (disconnected, incorrect or unanswered.) Using this strategy, agents didn’t waste time dialing those dead numbers.
“When you hear a manager say, “Click us up,” our agents literally run to their desk as fast as they can because they know that’s where the money is going to come from that day. It’s almost like being back in school when the teacher says ‘it’s recess time.’ Click is fun, and it’s productive and they know they’re going to make money off of it, so they run to do it,” said managing partner Paul Sims.
You don't have to just take his word for it - a 141 percent increase in cash collected speaks for itself.
If you're interested in a free demo of Arbeit Click or any software from Arbeit's suite of products, click below.