Flexible outsourcing makes perfect debt collection sense
Did you know that debt collection is a thriving industry in Australia? In a 2014 IBISWorld industry report, the Australian debt collection industry has raked in an estimated total annual revenue of $1.2 billion, while clocking in a growth rate of 8.4% from 2009 to 2014. So, it really doesn’t come as a surprise that debt collection businesses would set their sights on the Business Process Outsourcing (BPO) segment to maximise collections and minimise costs. With an offshore capability that delivers immediate benefits, such as reduced operating costs and customer service focus, businesses enjoy a competitive advantage that makes perfect sense.
How we make it work
Here at SHORE, I have been leading a team of talented people in facilitating the growth of our client, one of the top debt collection agencies in Australia and New Zealand, through our flexible Build-Operate-Transfer (BOT) model. Known for delivering successful debt resolutions, our client’s challenge was to effectively address their operational growth, while achieving cost efficiencies and flexibility. With competitors already having mature offshore operations, going offshore themselves was simply their natural next course of action.
Requiring +/- 200 employees, the client has explored various engagement models: seat leasing, staff leasing, full BPO. We developed a BOT solution structured specifically to their needs, incorporating some other services to help them define their operational culture and processes at the onset.
Effective, tailored solutions
We efficiently provide the following solution components:
- Facility, operational management and shared support services, where we build operations management, training and quality assurance
- Recruitment and hiring of all necessary manpower, working full-time and exclusively for our client, with the option of SHORE legally employing the workforce as they set up their own local entity
- Deployment of all necessary infrastructure, hardware, software, tools and networking infrastructure, including SHORE Connect, which is our telco customer relationship management system that is flexible and customisable to client needs
- Provision of all necessary back office support and managed services, as well as project planning, process mapping, training, quality assurance, performance management, etc.
We understood that the contract engagement should be able to help our client establish more ownership at the end of the term, moving the solution to a next desired arrangement/model.
Full steam ahead
Our proposed solution has been successful, also given our client’s commitment, management involvement and strategic collaboration. Our client now plans to grow their business beyond the initial employee size, leveraging SHORE Solutions’ experience in the contact centre space, building and optimising internal processes to develop sound offshore operations in various business groups, along with the target of operating the business themselves—with SHORE continuing to provide high quality office, facility and shared services.
Find out how you can leverage the benefits of outsourcing for your business. Let’s connect on LinkedIn: https://ph.linkedin.com/in/basmawhin