Collections & Recoveries

Improving the Customer Experience through Exceptions in Experian’s Tallyman

Improving the Customer Experience through Exceptions in Experian’s Tallyman

Experian Tallyman

As one of the market leading Collections and Recoveries (C&R) systems available today, Experian Tallyman can help drive operational efficiencies within Collections and Recoveries, creating a consistent customer experience whilst increasing the available resource to focus on collections. Tallyman provides collections and recoveries operations with the possibility of automating a number of key processes to reduce Agent interaction and create a consistent and fluid Customer Experience.

The Exceptions process often requires heavy Agent input through managing Accounts to ensure that Customers are treated fairly, whilst also verifying Accounts are in an Exceptions process for the right reasons.

For example, a Customer may tell an Agent that they have been made Bankrupt. The Customers’ Account would then be monitored for a period of time before any further action is taken depending on whether a notice of Bankruptcy has been received.  Much of this process is typically manual and requires a lot of Agent interaction.

It is possible to automate of the key elements of this process to limit the level of interaction needed by Agents. Tallyman can move the Account to a Bankruptcy process either via Agent interaction or through receiving notification from another system that a Bankruptcy notice has been received.

From here Tallyman could:

  • Monitor the Account for a defined number of days to check whether a Bankruptcy notice has been received.
    • If a notice has been received within the defined period, then the Account can be segmented to a Confirmed Bankruptcy process
    • If a notice has not been received, then the account can be automatically segmented out of the Bankruptcy process to another process
  • Break an existing payment plan on confirmation of Bankruptcy
  • Send the Customer and any relevant Third Parties letters throughout the process to confirm that Accounts are temporarily held from C&R processes, issue follow ups at specific times through the process or to confirm any Arrears amount, subject to Bankruptcy being written off

Assuming the data needed to perform the above actions can be provided to Tallyman then it’s entirely possible to automate the majority of the process and in turn provide the customer with a slick best in class experience. The business will also benefit as time consuming agent interaction on low value tasks is minimised allowing Agents to focus on collectable debt with other customers rather than debt which is likely to be written off under Bankruptcy.

Although this example focuses on Bankruptcy the same theory can be applied to other Exceptions processes. Non-Exception processes could also benefit from an efficiency review to identify any points which could be automated to increase the value delivered by the Tallyman solution.

If your Tallyman system requires Agent interaction, then there’s possible room for improvement. Arum can help detect, analyse and improve your Tallyman system through updated processes to fit Business Requirements. For more information or to find out how we can help your business, contact us today.

Gary Best, Senior Consultant

Gary Best

Gary has over 11 years’ experience in collections and recoveries across; utilities, banking and automotive finance industry, in end to end project life cycle and has the ability to deliver best practice and market leading IT solutions.  Gary has also helped lead the Decision Analytics division and the delivery of Tallyman v3 solutions within Experian.