Collections is a calling-heavy business, and anything that enables your agents to call more debtors and drive more value out of each call stands to have a major impact on your revenue. A power dialer is a software tool designed to do exactly that – speeding up the calling process by eliminating the most repetitive and wasteful tasks. Power dialers enable your agents to work smarter and stave off burnout, while also centralizing your operations to make management of your key client data faster and easier.
At its core, a good power dialer is primarily about automation. They allow your agents to build out their daily call lists in order of priority or any other category they choose and to automatically move through that list with no manual intervention required. Each new call launches as quickly as possible once the agent is finished wrapping up the previous. Power dialers are especially beneficial on failed calls since zero time is wasted getting the next account on the line, resulting in more contacts per agent per shift and more outstanding accounts closed. The benefits of power dialers go far beyond automation itself, however, especially when their features are enhanced through the integration of other powerful software tools.
Collect Debt and Data
One of the most impactful ways to use a debt collections power dialer is to integrate it with a customer resource management system – another piece of mission-critical software for forward-thinking collections agencies. Combining power dialing and CRM enables agents to do two things:
- Pull all the relevant data from each point of contact with a debtor into a centralized database, maximizing the amount of valuable account data and business intelligence on hand
- Easily access the collected debtor intelligence at any time, both on or off calls to enable agents to better plan, execute, and track their collections activities
Knowledge is power, and the more insight your agents can gain into the debtors they’re working with, the easier it is for them to close out accounts.
Improve Account Organization
A power dialer-CRM combo not only makes data collection easy, it makes storage and access as fast and simple as possible as well. Documentation can be entirely digitized and stored in the CRM’s centralized database, and each open and closed account can be quickly and accurately classified to make keeping track of ongoing work, pulling historical accounts, and generating accurate reports all a matter of a few clicks.
The centralized organization of a CRM also makes it extremely simple for agents to find the data they need from anywhere across your organization, either through a simple search, or by clicking through a lead’s account to access stored notes, documents, and even records of individual calls, emails, and text messages. Your agents will never again have to struggle to find information because no matter what they need to know, it will never be more than a few seconds away.
Minimize Agent Burnout
High-volume calling is a stressful job. This is especially true in collecting, where call recipients are even less happy to hear from your agents than they are from salespeople. Burnout from repetitive physical and psychological stress is a real problem that increases your turnout and undermines the ability of your agents to meet their full potential – two factors that hurt your revenues and long-term success.
A power dialer, especially when integrated with a CRM, solves that problem in two ways. First, it reduces or eliminates the most repetitive tasks, like dialing, helping minimize your agents’ exposure to repetitive physical strain. Additionally, a power dialer reduces the mental and emotional fatigue your agents feel by lightening their load and making the core part of their work – dealing with debtors one-on-one – much easier. The access to data mentioned earlier is a big part of that, but a good dialer-CRM combo also makes it easier for management and HR to monitor ongoing performance. That way, they can both identify potential burnout before it gets out of hand and develop individualized training programs to help agents do their jobs more effectively. In both cases, the dialer-CRM combo can help agents manage the unavoidable stresses that come with the territory in the collections game.
In a competitive industry like collections, gaining a sustainable competitive advantage is a difficult yet necessary step to ensuring long-term profitability and company health. Power dialers and customer resource management software represent two of the most impactful tools available to help agencies establish that advantage.
CRMDialer takes the combination one step further, eliminating the need to integrate the two tools at all by building an industry-leading dialer directly into a full-featured CRM. CRMDialer enables users to benefit from both right out of the box, in a single piece of software. The seamless marriage of the two technologies that only CRMDialer can offer means a single monthly bill, easier setup, faster training, and, most importantly, a simple, effective tool your agents will be happy to adopt and use.
To find out more about how CRMDialer can help your collections agency boost productivity and revenues while making your agents’ jobs and lives easier, get in touch with a member of the team or start your free trial of CRMDialer today!
CRMDialer Blog Debt Collection