Outsourced Debt Collection Services
What Are Debt Recovery Services?
These are the services provided by a third-party company to pursue individuals
or businesses with delinquent accounts.
Teaming with Success
Why You Should Hire Off-shore Debt Collectors?
You should hire off-shore Philippine debt collectors so that they compliment your on-shore collections team. You can save up to 70% on labor and occupancy costs. Because living costs are so low in the Philippines, labour and occupancy costs are too.
We can employ and accommodate fully qualified, very experienced debt collection specialists for your team in the Philippines for up to 70% less than you’d pay in your local employment market.
Here are some more benefits:
- Get the service of highly trained debt collectors. We follow ACCC guidelines for debt collection and we also adhere to the IMA (Institute of Mercantile Agents) Code of Ethics, so our debt collectors have the best training for Australian customers that your money can buy.
- Maintain good customer/client relationship. We know from experience, how to manage the relationships between your clients and your debtors.
- Achieve a healthier bottom line. We will help you save money on your labour hire and reduce your cost- at the same time.
Contact Us Today to know more about Debt Collection Services
Why the Philippines?
It’s not surprising that businesses have been turning to the Philippines to outsource debt collection since the late 1990s. Indeed, debt collecting was a big part of the customer service work that started the entire BPO industry in the Philippines.
Back then, the most commonly outsourced tasks were billing and invoicing for telcos, and those tasks are still very frequently outsourced today. But naturally, as the industry matured, outsourced collections work for other lines of businesses emerged, including financial services (e.g. credit cards and loans) and professional services.
What Can the Nova Team
Like an in-house debt collection team or a third party company, and offshore debt collection specialist is responsible for:
- Monitoring accounts to identify outstanding debts
- Investigating historical data for each debt or bill
- Finding and contacting clients to ask about their overdue payments
- Taking actions to encourage timely debt payments
- Processing payments and refunds if necessary
- Resolving billing and customer credit issues
- Updating account status records and collection efforts
- Reporting on collection activity and accounts receivable status
But unlike other outsourced options, an offshore debt collector is part of your permanent team, so they get to know your business inside out, and they treat clients in line with your internal policies. You maintain control over the process, and your local accounts team can get on with their jobs.
What’s more, you can offshore the role for a more affordable rate than outsourcing to an expensive third party, so it doesn’t cut into your margin.
And best of all, those savings don’t come at the cost of service quality. Filipinos make exceptionally good debt collectors. Not only are they highly qualified and experienced at working with American, Australia, Canadian and European companies, they’re also well known for their fluent command of spoken English. This is critical because they need to be able to read the nuances of the client interaction and speak with the right level of assertiveness to get the message across. In addition, because the Filipino culture focuses on courtesy and respect, they’ll follow your process with the perfect combination of firmness and politeness, to get those overdue invoices paid.
Professional Debt Collection Service Provider
Nova can set up your debt collection team for you, so you can concentrate on your other accounting processes. We can also set up teams for debt collection agencies. If you don’t have an established debt collection process yet, we will work with you to create one. This will help us streamline the entire process and collect debts professionally within a shorter time frame.
Here’s what Dan from Debt Recoveries Australia Pty Ltd has to say:
The Nova team have been instrumental in sourcing staff to meet our company objectives.
Their valued support and ongoing assistance
in helping our growth has been a direct reflection of the team that has been put together in the Philippines. Debt Recoveries Australia has become the go to organisation within the industry and with our increase in client portfolios, we will forever rely on Nova Team Solutions to be there by our side.
Improving this aspect of our customer experience is paramount and we are very appreciative of their continued efforts. Nova has proved to be an amazing business partner identifying our needs and goals.
Insurance Recoveries Team Leader, Debt Recoveries Australia Pty Ltd