KPI in debt collection

On 12 May 2016 the conference devoted to issue of key performance indicators took place. This conference was organized by Practical Events and GEKKO Collections and Tide Software were partners of it.

Sharing the approach by the indicators

A further definition of the debt collection can be found in the various dictionaries, but concepts such as: efficiency, quality, effectiveness, ability to establish contacts etc. are differently understood by each organization. Only the language of the indicators allows to tame these concepts, measure and compare them. However, questions still arise: what indicators to choose as the key ones and how they can be linked with strategy of the company and aims of the organization? Are there KPI motivating employees reliably? Can we rely on them extremely and make all decisions based on them?

Choice of KPI

During the conference „KPI in debt collection” representatives of banks, debt collection companies , companies from different sectors and bailiffs exchanged their experiences. The Polish Institute of Debt Collection performed a workshop with the aim to select 5 most important KPI in debt collection by all attendants. The main conclusion was that there is possible to identify KPI which would be more willingly chosen in this sector, especially to motivate agents who perform telephone debt collection. KPI cannot be treated as the universal and the one and only tool. There is need of constantly work on selection, what is basically never-ending process.

The future of debt collection

An interesting presentation of Mr Borys Sadowski from GEKKO has shown different stages of development of debt collection companies. Using the fully integrated tools in the form of platform is the future for collection companies and one of the main worries is to get through to clients. This approach corresponds in 100% to the strategy of development of Tide Software’s services which are available online via the platform, whereas one of the challenges is to help TideTelco users to get connected. According to the latest observations numbering management system pursuant to guidelines, Tide Software can increase getting connected even of 18%.

See also: Infographic: 7 tips to improve opportunities to reach a client.

Nice accents

The conference would not be complete without prizes. The prizes were drawn, among them were vouchers for TideTelco, TideMobile and TideEmail services and 3d multimedia projector by Epson with the nominal value of 3000 PLN, funded by Tide Software. The conference was closed with networking all together with whisky tastings.

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