healthchecks
redletters performs 'health checks' or audit reviews which assess all or specific areas of the collections and recoveries process.
Following an agreed scope meeting and subsequent investigation period, a detailed report is prepared of findings and recommendations for improvement.
This is accompanied by supporting documentation in the form of any proposed new letters, strategies, reports and procedures etc.
Potential areas for investigation include;
collections correspondence, contact strategies and payment options- telephony, telephone approach and technique
- cost reviews
- potential for outsourcing
- the use and management of debt collection agencies
- segmentation and collection strategy flowpaths
- capture and input of customer data, and the use of third party information
- the use of settlements
- compliance with both internal procedures and external legislation
- KPI and management reporting
The 'health check' is designed to highlight efficiency and effectiveness gains in the areas of 'people', processes', 'procedures', and 'systems'.
Benefits realised for clients typically include reduced 'cost per pound collected', improved debtor contact rates and increased cash collected.
