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Effective Debt Recovery

Systemisation.

Persistence.

Good Communication.

Systemisation refers to computer systems, work systems and work habits.

A good agency will have a robust computer software programme which can cope with large volumes of data and quickly make information available to collectors. The information will be organised in a way that allows collectors to work efficiently and effectively and as a team. There will also be robust back-up systems in place.

Work will be organised around processes and routines. This allows the agency to cope with large volumes. There should be a culture of individual initiative and collectors should be encouraged to use their common sense and instinct as much as possible, but the work systems need to be factory-like to provide a value-for-money service which is also profitable for the agency.

Individual staff should also be systematic in their approach to work. Planning their time and working their plan.

Persistence is essential to success in most areas of human endeavour. Nowhere is this more true than in debt collection. It's that extra phone call, extra door knock, re-visiting a situation with fresh eyes, which makes the difference.

Good communication skills are also a must. The most important element of good communication is listening. Listening to clients. Listening to debtors. Verbal, written and non-verbal communication should all be of a very high standard amongst collection staff. Abusive or defensive responses should be discouraged. We need to assert the rights of our clients, but build rapport and trust with debtors through good, clear, honest communication to achieve effective debt recovery.