IVR

Noble Systems, specializing in innovative contact center technology solutions, and UK-based Apex Credit Management announced remarkable achievements in revenue collection and compliance monitoring by using Noble System’s contact center platform and Nexidia’s (News - Alert) award-winning speech analytics capabilities.

Apex, an ethical debt management company, boosted conversion rates by 15 percent against the economic downturn. It also increased cash collected per agent per hour by 30 percent and is also poised to achieve substantial revenue and business benefits identified in the initial Proof of Concept.

Steve Mound, chief operating officer at Apex (News - Alert), commented in a press release, “With the significant downturn in the economy, and its impact on people’s ability to repay, speech analytics has provided us with a major opportunity to significantly boost our collections revenues. The ability to access the spoken word of our agents and correct as necessary has also dramatically improved our compliance capability and enabled us to demonstrate regulatory compliance on 100 percent of our calls.”

Apex was able to make such remarkable progress owing to its business restructuring which includes the implementation of a SAS (News - Alert) system to control contact strategies based on previous call experience. This provides information, about who to call and how often, into the Noble CCS contact centre solution. Nexidia’s speech analytics works in tandem with Noble’s predictive dialer and voice recorder to document Right Party Contacts and analyze the detail on each call to extract detailed customer information.  

The legal department, tracing department, and complaints team have benefited from this system. Complaint inquiries, which took up to two weeks to extract relevant customer calls, can be now completed in 10 minutes, saving time and effort. The detailed analysis of all calls is delivered to the team manager’s desktop each morning, thereby reducing time spent on searching for relevant calls to audit.

According to Apex sources, approximately 30 hours per month per team manager has been saved and is being reinvested in 50 percent more weekly coaching and auditing. Account, coaching and mentoring are now far more targeted and the team manager is able to focus on specific issues to help the individuals build skills and confidence. The agents appreciate the fair performance review and targeted coaching, which helps them achieve bonus.

Mound concluded, “Noble and Nexidia have been excellent partners. The product ‘does what it says on the tin.’ It is now fully embedded as part of our total solution to the market. I believe this level of compliance and consumer engagement can only help our industry to demonstrate how serious we are about treating customers fairly.”

Colin Chave, general manager of Noble Systems (News - Alert) EMEA, was pleased with the dynamically improved operational effectiveness of the collections company. Chave noted that Noble’s and Nexidia’s technical expertise has been synergized with Apex’s knowledge of the collections market to produce a solution that is most beneficial for all concerned.