Future collection techniques for enforcement services

telsolutions.co.uk | Telsolutions © 2021

Content is not for distribution to any third party provider without the express permission of the author Daniel Pearce, Director of Business development

Future collection techniques for enforcement services.Exploring developments in technologies & conversational commerce trends.

telsolutions.co.uk | Telsolutions © 2021 Content is not for distribution to any third party without the express permission of the author Daniel Pearce, Director of Business Development

The changing trends during & since the pandemic

1 - Source: United Nations Conference for Trade and Development2 - When Are People Most Likely to Buy Online? - MAY 11, 2021, BY GRAHAM CHARLTON - LAST REVISION BY Brad Ward ON May 11, 2021Photo by Firmbee.com on Unsplash

How COVID-19 triggered the digital and conversational commerce turning point.

15 March 2021

In years to come, we will look back at 2020 as the moment that changed everything.

Nowhere else has unprecedented and unforeseen growth occurred as in the digital and e-commerce sectors, which have boomed amid the COVID-19 crisis.

25.0

21.3 21.3

14.8 14.515.5

19.4 19.8

38.4

18.1

ASIA PAC S.AMERICA MIDDLE EAST &

AFRICA

EUROPE N. AMERICA

2019 2020 Retail Ecommerce Sales Growth Worldwide. % change by region – eMarketer 2020

The growth trends have been uneven, but growth does look set to continue in some regions and for sometime.

For example, we are seeing strong growth in Europe & North America compared to 2019.


Day , time and channel

Source: When Are People Most Likely to Buy Online? - MAY 11, 2011, BY GRAHAM CHARLTON - LAST REVISION BY Brad Ward ON May 11, 2021

SHARE OF TOTAL RETAIL SALES (%)Business.com 2020

CanadaAnnual online Sales

$30 billionshare of total retail sales

5.7%

United StatesAnnual online Sales


7.5%

BrazilAnnual online Sales


2.8%

FranceAnnual online Sales


5.1%

GermanyAnnual online Sales


8.4%

ChinaAnnual online Sales


15.9%

JapanAnnual online Sales


5.4%

RussiaAnnual online Sales


2%South KoreaAnnual online Sales


9.8%

United KingdomAnnual online Sales


14.5%

Online sales & traffic by device

5% x x x x x x x x x

4.5% x x x x x x x x x x x x x x

4% x x x x x x x x x x x x x x x

3% x x x x x x x x x x x x x x x x x

2% x x x x x x x x x x x x x x x x x x x x

1% x x x x x x x x x x x x x x x x x x x x x x x x

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

Mobile Sales

Mobile Sales

51,361,433Mobile Traffic

76%

Desktop Sales

25,913,083Desktop traffic

24%


Are our strategies still relevant?

▪ Encouraging and pushing customers to make contact or pay

outstanding amounts via self-service portals.


Are our business beliefs & strategies still relevant?

▪ Do you understand why some customers abandon processes?

▪ Are the strategies for following up missed calls, emails and messages

customers still effective?


Fixes for post pandemic habit changes

▪ Proactive communication, varied delivery times

into the ‘Mid’ evening.

▪ Use BOTS for signposting and coaching tasks and

out of hours coverage.

▪ Paper2digital - Customers want digital – Introduce

QR codes for ‘digital FLIP’.


Fixes for post pandemic habit changes?

▪ Introduce IVR deflection to reduce inbound call volumes.

Drive to digital preferences and coaching.

Text:

SUPPORT to07537 417083


New habits – Open Banking PaymentsOpen banking for payments is a fast, safe option for customers that reduces payment charges.

Transactions completed within the customers App are highly secure raising customer’s confidence in the process.

telsolutions.co.uk | Telsolutions © 2020 Content is not for distribution to any third party provider without the express permission of the author Daniel Pearce, Director of Business

development

Open banking payment demo

Open banking for payments is an alternative that make payments safefor customers & considerable cheaper for recoveries to take payments.

Open banking directly, accesses your banking

App

Text: PVCC 07537 417 083


development

Recurring payments

▪ Subscriptions

Set up a weekly or monthly recurring payments. Instant confirmation of funds and refunds.

▪ Variable recurring payments

Replace expensive direct debits and cards on file. Variable recurring payments to top-up accounts or pay subscriptions. (2022)


The rise of workflow automation with BOTs

Automation in a conversational world reduces resourcing on heavy calls and delivers high-quality interactions.

▪ Automation made it possible to expand digital interactions 24/7 as bots manage all mundane, while human officers manage complex cases.

▪ Increased conversations: Reporting and analytics enable Chatbots learn and improve over time.

▪ Chat services and bots are more cost efficient than staff and improve officer efficiency by automation on a number of human tasks.

▪ Customer satisfaction: Bots can handle more customers than faster and at a faster rate, improving satisfaction and reducing stress.


development

Bad BOTs vs Good BOTs

▪ Lack continual development

▪ Jack of all trades and master of none

▪ Are not linked to staff for livechat

▪ Interlinked with live staff to learn through development

▪ Focused on specific tasks and departments

▪ Managed by the user team


development

Chatbots driving the conversation

Direct Debit BOT

Payment BOT

Financial Support

BOTCONCIERGE

BOT

Consultation BOT

Video

Payment Arrangement

BOT


BOTs and vulnerability

Segmentation of journeys – MCS (Meaningful connection scoring)

Concierge BOT

Segmentation by the BOT of real customer issues vs general questions and enquiries

Payment Arrangement BOT Financial support

BOT

Chat with a live agent

Payment BOT

Inbound customer calls Inbound customer online enquiries


development

RCS – Secure self service

Rich Communication Services - the next generation SMS protocol.

Higher responses.Verified sender and branded conversations provide assurance and confidence to customers.

Rich MediaPictures, Audio and activity buttons create an unparalleled customer experience.

An app-like experienceMessages contain interactive functions.Nothing to download.


development

RCS for recoveries


development

RCS Workflow example

Telsolutions process for the mobile networks

Led by innovation

Changing behaviour

Defining Results

For application details on Income Accelerator & AI

Recoveries. Designed and Developed by Daniel Pearce.

Daniel Pearce, Director of Development & Sales

01279 456 679

[email protected]

Daniel Pearce

@collectionnow

telsolutions.co.uk | Telsolutions © 2020

Content is not for distribution to any third party provider without the express permission of the author Daniel Pearce, Director of Business development

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Telsolutions LtdWe are the Pilgrims, master; we shall goAlways a little further: it may beBeyond the last blue mountain barred with snow,Across that angry or that glimmering sea,White on a throne or guarded in a caveThere lives a prophet who can understandWhy men were born: but surely we are brave,Who take the golden road to Samarkand.

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Future collection techniques for enforcement services