Sometimes it can be difficult to keep up with all the legal changes that happen in a certain industry, especially if the shifts are subtle yet need to be followed to the letter. In regard to the debt collection business, there have been many changes over the years that are closely monitored by governing bodies – and an agency cannot afford not to be compliant with any and all industry practices.

While it is utterly necessary to have full compliance, it’s also important to have a high degree of customer satisfaction and debt collector competency. If a revenue collection agency keeps all of these aspects in mind, then it’s very likely it will be able to increase collection rates, but only if an organization uses the correct set of tools, such as Replay Call Recording from Trisys.

Refine debtor interactions

Agent interactions with debtors can be a tricky business, and it’s vital that all of these conversations be handled with the utmost professionalism and courtesy, while remaining within the law at all times. Collections supervisors can ensure that all practices are compliant and cordial by actively reviewing calls. By using call recording technology such as Replay Call Recording from Trisys, it’s easy to review calls to look for quality, compliance and other important aspects of the trade.

Since it is against the law for debt collectors to make false claims or engage in unfair practices to collect revenue, according to the Consumer Information page on the Federal Trade Commission website, managers must assure that all agents are adhering to the strict practices laid out by all governing bodies.

Replay Call Recording can also polish up already productive agent interactions by using the recordings as training tools for development purposes. When employees have the opportunity to listen to real situations, rather than unrealistic hypothetical ones, it’s much easier to improve performance and collect more revenue by exhibiting the best practices out there.

Solve disputes quickly

Even though most advice sites will suggest that debtors try to remain calm and collected while on the phone with a debt collection agency, such as Nolo advised, keeping one’s emotions in check can be difficult at such a stressful juncture. Even at this time, an agent must act appropriately and keep cool, no matter what is happening on the other line. The organization should take notes on certain files for clients who have been known to argue or have made specific claims.

With call recording software such as Replay, agencies can not only take notes on certain files so that any employee may see them, but it’s also possible to flag a conversation for later review. This ensures that any problematic clients or specific conversations are handled properly and with ease. With a recording and detailed notes, disputes are quickly resolved and supervisors are sure that their employees are managing disputes using the proper channels.

Use scripts consistently

Even the most seasoned debt collector agent should be using scripts. Not only does this practice ensure that the organization is adhering to the law and treating clients with respect, but it shows that there is consistency and the most current methods of revenue collection. Practicing with scripts is also a very helpful tool for increasing productivity.

Like any other performer, agents are in the spotlight and require a script.

With the call recording software, it’s then possible to go back through and listen to gauge how effective the new scripts are in practice, whether they need to be altered or thrown out altogether. These recordings can also be used in training situations with new recruits or established agents as a refresher course. How well did an agent respond to the client’s questions? What could have been better about his or her performance? Again, real-life situations are far more instructive than made-up ones.

Abounding benefits

There is no single reason why a debt collection agency should use a system such as Replay Call Recording from Trisys because the benefits are so well interlaced with each other. At the end of the day, however, a call recording software such as Replay will not only enforce the best practices of all agents and ensure everyone is courteous and compliant, but it will make the organization more productive and that will lead to an increase in revenue collection.