This was a very nice article on the Indian outsourcing scenario.
In the FAO section, we discussed a customer contract management process – contract term negotiation.
Let’s move on to the next largest set of outsource able processes:
- Collections follow up
Though both of these look similar, I have reasons why I segregate both. The first one actually is the overall set of activities, however, the latter essentially is a voice based activity, requiring both verbal and email / snail mail follow up for collections.
We have seen very large BPO setups for collection processes, sometimes requiring specialized training, on the client’s business, on voice accent handling, training on handling harsh customers.
Let’s look at the overall process of collections. What all can it comprise of?
To bullet this list:
- Aging analysis
- DSO computation and reporting
- Definition of delinquency levels and setting critical follow up levels.
- Follow up through email / snail mail
- Follow up through calls
- Actual collections through on-site agents
- Tracking collections through focused activities
- Customer account reconciliations
- Query handling
- Dispute resolutions / settlements
- And more……
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