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Managing credit and collections in-house is both tedious and complex. It also means dedicating valuable resources to routine, time-consuming tasks.
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A well-established and proven collections management mechanism is crucial as it provides significant opportunity to eliminate revenue leakage on receivables, reduce write-offs, improve overall customer satisfaction levels, reduce operational costs and ensure compliance.
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| Collections Management Services
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MphasiS provides collections strategies and services to clients across the US and UK that are tailored specifically to the client's requirements. We work on each process sequentially, ensuring that aggressive SLAs are not just met but exceeded. Our robust resource management system provides the flexibility for ramp-ups at short notice.
| Collector's skill determination at MphasiS |
MphasiS focuses on hiring the right talent for the right job. The successful candidates complete a comprehensive training program, which comprises the following modules:
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| Opening & Closing |
| Bridging |
| Negotiating |
| Addressing Collections Challenges |
| Product Knowledge |
Compliance
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| Collections Strategy
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Our successful collections program begins with our team studying our client’s target customers and account balances, and based on this information we are able to analyze the outstanding debt and categorize customers based on their debt levels. The program focuses on the collection of high debt during prime time, average debt around prime time and small debt beyond the prime time.
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| Collections Cycle Pyramid |
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