RMS’ receivables management and collection outsourcing services are well established and recognized in the industry. Parent company iQor, working with many of the world's most well-known brands, provides business process outsourcing and product support services in 10 countries worldwide, services span the entire customer value chain, from customer service to receivables management. Our acclaimed technical, logistical and analytical platforms enable us to measure, monitor and analyze brand interactions, improve business processes to achieve operational efficiencies that deliver superior results for our partners throughout their customer and product lifecycle. In this blog, we share with you a recent case study of Reminding Call Outsourcing Service.
A strong cross-border bank with large customer base utilizes a call center of the same company group in China that supports day-to-day operations of its various departments. The large workforce had been working well. But due to the seriousness of the epidemic during the last quarter of 2022, the staff at the call center were infected, isolated, or resigned. The sudden sharp drop in the work force had made the client almost impossible to maintain the normal productivity level in a short time. Some non-emergency jobs such as business promotion, customer service, etc. could still be adjusted, however, there had been a rising trend of overdue accounts receivable in the credit department. To prevent the situation from getting worse, it was urgent to seek external timely assistance under the following strict regulatory requirements of the Bank:
RMS has been providing receivable reminding call services and managing various portfolios for a number of reputable financial institutions and multinational companies. With over 40 years of local collection experience, we were able to immediately accept the bank’s request to manage their receivable portfolio within 72 hours. We then analyzed the bank’s pain points and special requirements. In addition to the availability of adequate call agents required, we had designed a tailor-made program and categorized the accounts receivable by the industry's Days Sales Outstanding (DSO) indicator, prioritizing accounts with higher default risk. We proposed to monitor the collection status through our sophisticated system and regularly follow up and enhance the collection process. We figured out the payment behavior pattern after screening the habitual defaulters and committed to provide regular progress reports and recommendations to our client. The client was very pleased and decided to outsource the service to RMS immediately.
Customer Satisfaction with Results
Work for the client began at RMS in accordance with the agreement. In addition to the high quality of professionalism delivered by our call agents according to guidelines, our telephone system, sophisticated accounts receivable management system, and streamlined process have achieved better results than expected. Additionally, it has also been a focus of attention that the company has very strict requirements and guidelines for epidemic prevention measures for call centers and individual agents to ensure that the impact of epidemic is minimized.
The client has expressed their satisfaction with the results. Besides helping them to survive the peak of the epidemic, they have also indicated that the recovery rate of accounts receivable has increased slightly. The client is currently discussing expanding the projects with RMS.
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