EXUS Collections & Recovery Blog
Technology has changed the way the telecom industry operates and how it interacts with its customers. Customers demand the ability to communicate with companies at the touch of a button and on their terms. Telecoms have no choice but to keep up.
That’s just one example of the brave new world telecoms face. And they know it. But a large number of companies still have old systems and technology in place, which makes it difficult for them to adapt. These companies are at risk of falling behind, and being outdone by more forward-thinking competitors. What’s more, telecoms must make these serious technological transformations all while keeping costs inline with budget.
Telecoms must be aware of the disruptive forces on the horizon. That’s the only way they can adapt, survive and thrive. They need to be able to adjust to the changes happening around them and lead the industry forward.
Continue reading to learn more about current technology trends that are going to shake up the telecom industry forever.
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.
Telecom consolidation is sweeping Europe. It’s causing concerns about competition and regulatory scrutiny. And there are more considerations than ever for telecoms navigating the changing landscape of collections and recovery. Within telecom companies, consolidation may strengthen business long-term, but in the here and now it can create:
Collections and recovery has changed. Previously, it was acceptable to lack insight into loans, lose sight of borrowers across the loan lifecycle and mismanage delinquency. Now, tough market conditions, regulatory pressures and changing customer preferences mean that organizations must embrace modern debt recovery practices.
Macro-level challenges are causing micro-level problems as telecoms feel the effects of market trends—especially in Europe. European telecoms are making moves to consolidate, causing: