Offices, computer systems, communication, letters, professional trainings
Personnel costs include the total direct and indirect employment costs that apply to the various departments dealing with credit risk management and collections.
The biggest expense after personnel costs is the set of infrastructures required for the location of the various teams, the mechanization of the activity as well as communication within the organization and with the customers, including phone calls, sending letters, e-mail, and text messages.
Also, special budgets should be added to this to finance professional training for employees of the world of credit risk management and collection, with the aim of achieving and maintaining a high professional level and bringing about uniform work in accordance with the organization’s procedures.
Collections call-centres in the post COVID era
The COVID-19 pandemic has had a significant impact on collection call centres, affecting their resources and operations in several ways:
Shift to Remote Work: Like many industries, collection call centres had to adapt to remote work arrangements. This shift required investment in technology and infrastructure to enable employees to work effectively from home. It also posed challenges in terms of maintaining productivity and managing a distributed workforce.
Technological Advancements: The pandemic accelerated the adoption of technology in collection centres. This includes the use of advanced telephony systems, customer relationship management (CRM) software, and artificial intelligence (AI) to improve efficiency and effectiveness in collections.
Data Security and Privacy: With the shift to remote work, ensuring data security and privacy became a significant challenge. Collection call centres had to strengthen their IT infrastructure to protect sensitive customer information from potential cyber threats.
The long-term impacts of these changes are still unfolding, but it is clear that the COVID-19 pandemic has led to lasting transformations in how collection call centres operate.
NEXT: Credit terms costs