Our payment debt collection solutions provide your customers with a level of care and attention that goes beyond the norm.
It can be a difficult subject to approach with customers, so engaging in a way that’s compassionate, caring, and empathetic is crucial.
You’re not just dealing with money, you’re dealing with people in complex situations that you have very little knowledge of and approaching these situations in the wrong way can lead to fewer payments, slower cash flow, and unsettled customers.
Sigma Connected is looking to change that.
At Sigma Connected, we’re experts in handling payment collections in a way that carefully balances your needs as a business and the well-being of your customers.
We’re more than just a payment collection agency – we’re a collections partner that treats your customers with respect, helping you to maintain strong relationships that lead to positive future engagements.
Our collections ecosystem
Sigma Connected’s collections services bring together expert insight, leading technology, and sophisticated analytics that results in effective payments and clear ROI across the whole collections lifecycle.
So, how does our ecosystem work?
We function based on 8 key pillars, which cover the complete payment collection process.
1. Managing risk intelligently
It’s easy for data to be lost when it moves between providers, which is why we look to keep everything under one roof. With Sigma Connected, you’ll get one comprehensive overview and one consistent client relationship.
2. Commercial structure
We’ll price each individual element of the collections process based on your specific needs, so you’ll only ever pay for what you get. Nothing more, nothing less.
3. Insight and analysis
We strive to understand customer behaviour on a deeper level. By enhancing our reporting and analysis on your account, we’ll be able to continuously test new tactics that keep us evolving and improving around the clock.
4. Seamless movement throughout the journey
The collections process can be a long one, but with Sigma Connected’s intuitive platform, it’s easier to view and monitor progress. This saves time and helps you to collect your cash as quickly as possible.
5. Segmented analytics
We’ll collect data relating to every step of the end-to-end service that we provide. With this data at our fingertips, we’ll help to inform your collections strategy to better target the different demographics in your audience.
7. Machine learning
By harnessing the power of our partner network, we can add extra layers of data to our analysis, helping us to accurately predict customer behaviour at every stage of their journey.
8. Centre of excellence
At Sigma Connected, we never stand still. As we’re working on your account, we’ll also continue to look to develop our services and enhance your future collections strategy.
Utilising our collections ecosystem gives you a better overview of the status of the debts owed, as well as the stage of collection that these debts are currently at, displayed as real-time information that you can digest, analyse, and utilise to improve your customer acquisition process in the future.
As a business, facilitating easy, regular payments for your customers is critical.
The more roadblocks your customers face, the more likely it is for payments to be missed.
This directly impacts your cash flow, so it’s a problem that you’ll want to take steps to prevent as early as possible.
If you aren’t experienced in the field of payment collections, it can be difficult to make this happen.
But thanks to our expert team, you won’t need to.
If you want, we can take control of your collections process from start to finish, removing the burden of collections from your operations so that you can spend your time delivering your services, supporting your customers, and preparing for business growth.
Of course, our debt recovery solutions are totally flexible – you’ll be able to specify exactly which parts of the collection lifecycle you’d like us to be involved with, ensuring that unpaid debts are actioned and returned to you promptly, without us stepping into territory where you’d rather take control internally.
Just let us know what you need, and we’ll build a collections strategy around your business pain points.
Insightful collections strategy that improves collection rates
Every business strives for stress fee payments and collections.
But for many businesses, it’s not realistic to devote a high amount of resources to the collections process internally.
Sigma Connected will assist your internal team throughout the collections process to ensure that there’s a clear collection strategy that works to support your customers and enable more effective payments across the board.
With this additional resource and expertise by your side, we’re sure you’ll be able to find ways to optimise your collections process and improve your collection rates.
- We’ll monitor overdue payments carefully and contact non-paying customers regularly to ensure that there’s a manageable payment structure in place to facilitate their debt being resolved.
- From phone calls, emails, SMS and letters, we can take control of all contact with customers and always make sure that we’re contacting them in the most effective ways, reflecting your brand values all the way.
- We can also use our own EDC to escalate high-risk cases to recover your debt, giving you complete peace of mind.
Handling high-risk demographics with care
We prefer problem prevention over fixing issues after they’ve happened – it’s more practical and it protects every party more effectively.
For this reason, we’ll help to inform your credit risk strategy to minimise potential issues and maintain high collection rates.
With this information at your disposal, it becomes easier to identify any weak points in your customer approval system – if a high number of unpaid invoices are recognised, you may need to implement stronger customer background checks and firmer payment terms.
By implementing this, you’ll be creating the ideal repayment environment, helping to boost the number of on-time payments that you see in your monthly cash flow.
We thrive on collaboration.
When we work in tandem, everything flows more smoothly.
We gain a better understanding of your business and the problems that you face, giving us all the information we require to offer your business the services that it needs.
Once you’ve submitted your contact form, we’ll assess your needs and get back to you promptly – we don’t deal in wasted time and we’ll always get straight to the point as quickly as we can.
Following this conversation, it’s all about putting together a bespoke service plan that’ll cover your needs holistically.
It’s not just collections that we’ll consider, either.
We’ll consider your complete business needs from customer service management, customer acquisition, complaint management, and so much more to ensure that we’ve left no stone unturned when designing your service plan.
Our clients feel comfortable, confident, and competent when it comes to payment collections and customer service – if you’re looking for this peace of mind, get in touch with our team today to discuss the options!
At Sigma Connected, we try to settle debts sooner with our pre-delinquency and early arrears collections.
By acting quickly, we’ve found that we’re able to recover debts more efficiently and develop payment plans that help your customers to manage their payments more effectively.
By encouraging customers to make their payments at the earliest stage after they have defaulted, known as ‘pre-delinquency’, through the use of text and email prompts, we’re able to minimise the number of customers that need to enter the collections process.
By keeping customers out of this process, you’ll be making your overall collections strategy cheaper and easier in the long run.
Our dedicated team of customer advisors are highly skilled in collecting revenue as early as possible in the arrears process.
ReachOut helps you to support your vulnerable customers more responsibly
And we go deeper than simply collecting your funds or chasing debts, too.
One of our most forward-thinking services is ReachOut, which helps businesses to proceed more responsibly with vulnerable customers.
By utilising ReachOut, we’ll look to engage with vulnerable customers in the right way – we’ll help them to understand their debt and point them towards support to help them navigate the situation in a manner that keeps them feeling safe, comfortable, supported.
For the customer, this is exactly the way that they want to be treated by businesses – this helps to build your brand reputation and customer loyalty, which is notoriously difficult for businesses in saturated markets.
Whilst money collection is fundamental for your business, this must be done responsibly, with the needs of your customers put at the forefront of your activity.
Collections can be a long, drawn-out process that requires a lot of resources to operate and without expertise in maximising collection rates, you might find that you’re recovering less of the money that you’re owed.
Collections are complex, sensitive matters, and every instance is unique, so you need to be an expert in the field before you approach your customers and look to put any pressure on the payment.
Each customer has a whole world of circumstances affecting them at all times, so it’s important to take this into account and take time to understand their situation.
When you outsource your payment collections to the Sigma Connected team, you’re passing the baton to genuine payment collection specialists that you can trust, without fear of further complications.
As with any activity that’s not your core capability, it can be better to hand payment collections to those who have the most experience.
We’re the experts in this field and you’re the experts in yours, so by focusing on our core specialities, we’re a match made in productivity heaven.
Reduce your operating expenses
Hiring internal teams can be costly.
Especially if you’re hiring them to focus on capabilities that aren’t your primary focus for your business.
That’s where outsourced services give you the freedom to expand your capabilities, without the need for investment in internal teams.
This allows you to take complete control of scalability – you can enhance your services at a moment’s notice, giving you the capacity to reach out to more of your debtors during periods of high demand.
This is perfect for businesses that are impacted by seasonal demand increases, as you’ll be able to increase your services for a set period, and then reduce this once you enter your quiet season.
Alternatively, businesses who choose to hire internally to action this additional demand may be faced with the unfortunate situation of reducing their staff numbers once demand settles back down.
Solidify your customer relationships
Customer relationships are the lifeblood of any business – as studies have shown time and time again, retaining customers is one of the most difficult things to do.
But how do you ensure that your customers are treated with care, attention, and respect every time they get in contact with your business?
The easiest, most effective way to ensure this is by increasing your payment collections resources through outsourcing. That’ll take the pressure off of your teams and allow every representative to ensure maximum ROI.
When you’re working with our dedicated team, your customers will be in regular contact with customer service and debt collection specialists who know exactly how to reach the right outcomes.
There’s no stress and no hassle – just great results that benefit your business.
At Sigma Connected, we do everything bespoke.
We’ll never treat you like ‘just another client’ – each client is given a tailored service plan that’s designed with all of your business intricacies and customer priorities in mind.
We’re not just looking to solve problems, we’re looking to solve your problems.
Of course, there are certain types of collections that we’ve got vast experience with, giving us a head start when it comes to finding the solutions for your business.
Here’s a quick run-through of the types of collections that our team specialises in resolving:
- Dedicated ‘problematic area’ campaigns
- Contacting customers who are either in the process of leaving or have already left with outstanding balances
- Pre-bill contacting of high-value invoice customers to prevent ‘bill shock’
- Pre-alerting direct debit reassessments
- Courtesy calling customers with previous late pay history
- Outbound metre reading campaigns for energy companies
- High balance debt accounts, litigation assessment
Working with Sigma Connected
At Sigma Connected, we’re driven to boost your business with sophisticated outsourced services that alleviate stress and help you to focus on other things.
From onboarding to account reviews, we’ve got everything covered, leveraging the latest technology and platforms to keep your operations running as smoothly as possible.
The benefits of working with the Sigma Connected collections team:
We gather all of the key information as quickly as possible so that we can start making an impact from the get-go.
Our strategies draw from our vast experience and up-to-date best practices, helping us to optimise performance as we work. We’re never opposed to adopting new strategies, so we’ll never be implementing outdated principles on behalf of your business.
We harness state-of-the-art technology that keeps you ahead of the competition. Our omnichannel approach utilises interactive voice messaging, 2-way SMS commands, email management, and social media management – if it’s aimed at your business, we’ll handle it for you.
Thanks to our IEX platform, we can monitor productivity and ensure we have the right number of staff on hand at the right times so that you’re never caught short or over-resourced.
Dialler Management and Performance
We have dedicated dialler managers who monitor campaigns across the day to ensure they are both optimised and compliant.
Insight and Analytics
Our insight toolkit gives you an out-of-the-box solution for contact rates, productivity, collect rates, outcomes and liquidation rates. We’ll then customise your reports to show you information relating to your most important KPIs.
Using the insights we gather throughout the day, we can ensure our teams are on track to meet their targets.
We’ll remain ready to adapt to any changes that might impact your debt collections, helping you to stay ahead of the curve at all times.
If you’re looking to compliment your collections process with expert outsourced solutions, it’s time to get in touch with the Sigma Connected team.
You can get in touch with us right here on our website – just fill out our handy contact form and a member of our friendly team will get back to you as soon as possible to discuss the next steps.
Alternatively, you can continue to learn about our outsourced services by reading more in our insights section!