EXUS Collections & Recovery Blog

Nikos Lambrou

Recent Posts

Agent Incentives for better Customer Communication

Posted by Nikos Lambrou on Tue, Oct 10, 2017 @ 08:00 AM

Incentivizing your collectors is key towards better team management, motivation and performance increase. Daily motivation is critical, even after extensive training is offered to collections professionals. When they have it, they perform better and achieve higher collections rates. Incentive programs must be smartly designed and comprise of a mix of KPI’s in order to actually increase collections results.

This post offers tips on how collections managers can structure incentive programs so that collectors work harder and smarter to improve results. 

 

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Tags: Collection and Recovery Operations

The 4 Steps to Customer Segmentation

Posted by Nikos Lambrou on Thu, Mar 23, 2017 @ 01:00 PM

Customer segmentation refers to the strategy of dividing customers into groups based on characteristics to better tailor messaging and communicate to each audience. These characteristics might include type of debt, amount of debt or location.

It’s important for collections departments to segment customers because they have complex differences. Each customer is in a different collections stage and a unique financial situation. Segmenting resolves obligations in a way that resonates with customers while improving collections rates. 

Continue reading to learn the four steps to implementing customer segmentation at your organization. 

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Tags: Self-Service

Tech’s Role in Debt Collections: The Right Offer At The Right Time

Posted by Nikos Lambrou on Mon, Jan 30, 2017 @ 11:30 AM

Each stage of delinquency—soft, pre-litigation, litigation and recovery—requires a different approach to keep collections on track.

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Tags: Tech's Role in Debt Collections, Collection and Recovery Software

3 Critical Ingredients to Better Debt Collections Performance

Posted by Nikos Lambrou on Tue, Jan 17, 2017 @ 11:00 AM

The collections and recovery industry is one of today’s most vital and fast-paced business segments. Unfortunately, many collections businesses still employ traditional practices like cold calling, while attempting to compete in an increasingly complex world. 

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Tags: Collection and Recovery Operations

How to Structure and Implement Incentive Programs

Posted by Nikos Lambrou on Thu, May 19, 2016 @ 01:00 PM

Incentivizing your employees is a way of motivating them to perform to the best of their abilities. Collections departments are no different.

Even after proper training, collections professionals need daily motivation to excel. When they have it, they perform better and achieve higher collections rates.    

But not every incentive program is successful. They must be smartly designed to actually increase collections results. If they’re designed poorly, your department will end up spending money to achieve zero real results.

This post offers tips on how collections managers can structure incentive programs so that collectors actually work harder and smarter to improve C&R results. 

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Tags: Collection and Recovery Operations

3 Ways Collectors Can Better Communicate with Customers

Posted by Nikos Lambrou on Mon, Dec 21, 2015 @ 10:00 AM

When consumer behavior changes, businesses must change with them. The collections and recovery business is no different. New technology has altered how consumers resolve obligations. Banks, telecoms, utility companies and third-party agencies that do not adapt to this trend risk losing market share.

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Tags: Collection and Recovery Operations

Why A Self-Service Solution Improves Collections and Recovery Performance

Posted by Nikos Lambrou on Tue, Jul 07, 2015 @ 11:00 AM

Today’s consumer wants to go his or her own way. The younger they are, the more they wish to undertake the consumer journey alone. A full 70% expect companies to have websites with self-service options. And companies that comply—even those in non-ecommerce businesses—see significant results: A typical utility could save $1 to $3 million a year by increasing self-service adoption rates, consultancy Accenture estimates.

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Tags: Collection and Recovery Software

One Area Of Collections You’re Doing Wrong—And How To Fix It

Posted by Nikos Lambrou on Mon, Jun 08, 2015 @ 02:14 PM

It’s time to wake up and realize that your customer has changed. They want online service and communication, multiple ways to resolve debt obligations, and the ability to settle debts on their own terms, 24/7.

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Tags: Collection and Recovery Software

Crush Your Competitors With A Super-Efficient Collections Process

Posted by Nikos Lambrou on Tue, Mar 31, 2015 @ 10:00 AM

Your company can’t afford to waste time on inefficient collections processes if it wants to crush the competition in highly competitive markets. After all, the right offer at the right time improves collections performance, raises self-cure rates and increases the likelihood of successful recovery.

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Tags: Retail Banking, Collection and Recovery Operations, Telecoms, Utilities

How to Manage Complex Delinquent Credit Cases

Posted by Nikos Lambrou on Wed, Jan 14, 2015 @ 10:28 AM

Not all delinquent credit cases are created equal.

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Tags: collections and recovery, Collection and Recovery Software, collections, complex delinquencies