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Prime Time Contact Service

If you’re looking to improve your collections strategy you need to be available when your customers are. HML’s Prime Time Contact Service extends the typical scope of a weekday collections campaign to include weekends, which means that we help you reach more of your customers and more of your collections targets.

Capabilities you can trust

The service currently operates on Saturdays between 9am and 1pm however, there is potential for this to be extended by operating additional hours over the weekend. We make outbound calls to your customers outside normal office hours in order to reach more Right Party Contacts (“RPCs”) and so increase the efficiency of our collections ability and ultimately the results we achieve.

How it all works

We will work closely with you to agree an appropriate contact strategy, in which you specify the customer segments you wish to focus on (based on, for example, asset type, risk grade, number of months in arrears). Through a range of targeted credit management strategies and based on our experience, we expect to achieve the following improvements over midweek campaigns:

  • Improved Connects: 20% – 35% depending on penetration levels
  • Improved Right Party Contacts: 15% – 30% depending on penetration levels
  • Improved Arrangement To Pay: 15% – 30% depending on penetration levels

At the end of the campaign you receive a performance report which summarises our success rate and demonstrates the return on your expenditure.

Big on benefits

  • By speaking to the right person more frequently at prime times we achieve a higher number of Promises to Pay (“PTP”) and a sustained approach to the collections process. Arrears performance is consequently improved and your exposure to the shortfall minimised
  • Earlier collection allows more time to focus on the problematic accounts and improves your loss mitigation
  • Increase cash in the bank resulting in reduced provisioning costs. This improves market perception of your arrears management, which in turn improves your funding ability
  • Balance sheet lenders can reduce their provisions and free up more money for lending
  • Meet expectations from warehouse lines and Special Purpose Vehicles (SPV’s) that all efforts are being made to mitigate arrears performance
  • Helps you compete with Credit Card companies that also chase payment at the weekend and evenings