How the Use of Technology Assists in Better Communication in Debt Collection Agencies 

Technology has forever changed the way people communicate both in their day-to-day lives and in multiple industries and applications. The space for business and healthcare debt collection and commercial AR management is no different. The leadership team at Capital Recovery Corporation places great importance on the use of technology to enhance the proven results we receive for our clients. These digital tools have allowed us to connect in different ways and have enabled us to offer effective consumer debt collection programs crafted to our client’s specific needs and individual systems of operation.  

To shed light on the systems and processes that allow us to maintain our long-standing success rate, here are some of the tools we utilize to help our medical and commercial debt collections agency provide top-notch services to our current clients.  

VoApps: Instead of dialing around wasting time listening to customers’ phones’ ring, our staff uses VoApps, a technology platform that uses DirectDrop Voicemail, which leaves a voice message without the intrusion of an actual phone call. This allows the customer the flexibility of responding in their own time and allows our team of agents to stay focused on answering incoming calls from customers who are ready to negotiate their payments. Using a service like this one cuts down on unanswered calls, and given that in 2020, 94% of calls went unanswered if the number was unknown. With VoApps, we can reach up to 50,000 voicemails in one hour, giving our team many hours of their day back.  

Texting Platforms: According to a Pew Survey from 2015, 90% of cell phone owners frequently carry their phones with them, and 76% admitted they turn off their phones rarely or never. These numbers are a good indication that texting or SMS messages are a great way to contact customers directly where they’re already spending their time. Additionally, text message conversations are expected to be brief, thereby allowing our team members to get an update quickly without disrupting their own or the customer’s day. Our text messaging platform receives a 95% response rate and is one of the most effective tools we currently utilize to collect payment.   

Interactive Voice Response (IVR): Widely used across many different industries already, IVR is an automated business phone system that interacts with callers and gathers information by giving them choices via a phone-based menu. Then, actions are performed based on the answers from the caller through either the telephone keypad or their voice responses. From there, the customer can determine if they need to speak to a human agent who can better handle their needs, and at that time, they will be routed to one of our assigned team members.  

AI Platforms: Through the power of artificial intelligence chatbots, our organization can answer consumer questions and negotiate payments online. As companies across all industries are turning to AI platforms to streamline their processes and practices, comfort with AI messaging is also on the rise. In fact, the global artificial intelligence (AI) software market will grow even more rapidly in the coming years, reaching around 126 billion U.S. dollars by 2025, according to Statista, a leading provider of market and consumer data.  

Tech Solutions for Effective Debt Collection Management  

These are just a few of the tools that allow our team members to more effectively stay in communication with the customers, patients, and organizations for whom we serve. From healthcare to commercial to insurance overpayment, our agency can help you get back your past-due debt owned while also maintaining great customer relationships and restoring credit. By partnering with us, you can shift your energy to what’s important–managing your business, not your debt collections. Contact us today to start a conversation and see how we can help your organization.