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The Future of Collections Benchmark 2023.

Part 1, Third Party Collections

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Our participants profile

Director & Management

International

Collection agencies

> 75 million in annual revenue

A targeted benchmark survey across the debt collection industry. Challenging your views and giving insight into your peers understanding of the current and future impact of customer interaction technology.

The collections market plays a crucial role in the financial industry, helping businesses and individuals collect outstanding debts. The use of customer interaction technology in the collections process has the potential to significantly improve the customer experience, increase debt repayment rates, and truly enhance the efficiency and effectiveness of collections operations.

The challenges found within the collections industry, such as high employee churn, can lead to reduced productivity, increased costs, and lower debt repayment rates. And with an expected increase of debtors in the coming months, it’s critical to understand the impact technology can have in addressing these challenges.

This peer-2-peer research will focus on the impact of customer interaction technology in combination with the above developments. Participate to gain impactful insights, compare yourself with your peers and discover your improvement potential.

Benefits of participating

Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations (Benbow, 2021). Benchmarking provides necessary insights to help you understand how your organization compares with similar organizations, even if they are in a different business or have a different group of customers.

Benchmarking can also help organizations identify areas, systems, or processes for improvements—either incremental (continuous) improvements or dramatic (business process re-engineering) improvements.

Unique insights

A personalised benchmark report enabling you to compare yourself with your peers in the industry.

A personal conversation

Receive a thorough analysis of your benchmark report, presented by an expert.

Continuous learning

Real-time access to the results of the research.

The Categories

Collect more, faster

How can collection agencies reduce cost and increase margins?

Retaining and maintaining agents

How do collection agencies cope with agent churn?

Consumer duty of care

Are collection agencies shifting their focus to debt prevention and rehabilitation?

Future - Digitalization in collections

How is digitalization shaping the collections landscape

About ContactEngine

ContactEngine is the only proactive conversational AI software purpose built to engage the customers that never contact you, and to do so without driving any increase in inbound calls to your call centre. ContactEngine enables you to engage silent customers, to remove the assumption, to reduce costs, to increase revenue, and to dramatically improve CX all at the same time.

Participate in this research