Energy retailer achieved bad debt reductions of $3.2 million

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In this case study learn:

How effective credit management controls achieved credit and collections savings of around $1.9 million
How increased performance visibility achieved bad debt reductions of $3.2 million
How debtor hardship mitigation controls and compliance achieved a 96.5% increase in compliance quality targets.

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The solution

Probe CX created a credit and collections solution that was implemented in two phases. The focus of both phases was to implement effective credit management controls that maintained a positive debtor-creditor relationship. This would lead to increased performance visibility and help keep their debt recovery bottom line controlled and managed.

Phase one

45 customer solution specialists were onboarded and trained to undertake outbound and inbound early collection calls. The key focus of the training was to maximize the collection of funds while being empathetic and sensitive to difficult debtor situations in line with credit collection compliance guidelines.

Phase two

Probe CX expanded to over 150 employees for the client to support an additional 26 back-of-house transaction types. These included:

Portfolio management
Credit card payments
Direct debit management
Disconnections
Pre mercantile correspondence
Deceased estates.

The result

Since implementing the solutions, maintaining a focus on debtor hardship mitigation controls and compliance, the client has seen the following results:

Credit and collections savings of around $1.9 million

A reduction of $3.2 million in bad debts when compared to past-year results

A 96.5% increase in compliance quality targets

A ‘conversion to presentation’ rate of 88% for outbound reminder calls

A 36% reduction from a 60 - 90 day debt profile to a 31 - 60 day debt profile.

"Partnership approach and ease of doing business

is important to me and makes most other things simple to resolve. The focus on customer service is obvious and the focus on ensuring they meet the customers' needs is also quite evident at all levels of the organization. Senior Stakeholder

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Energy retailer achieved bad debt reductions of $3.2 million through credit collection optimization

The client

The challenge

The solution

The result

"Partnership approach and ease of doing business