Avoid the coin toss business model | IAT SmartDial® Solutions

Avoid the coin toss business model

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As bets go, betting on the flip of a coin is pretty straightforward. A coin can only do one of two things: It can either come up heads or it can come up tails. You might bet on a coin toss because you are acting in your own self-interest. In business, don’t bet on it; a coin toss is a loss loser for you and your company.

Manage and control your accounts with multiple phone numbers, especially duplicate numbers. Otherwise, it’s a lot like flipping a coin: Heads, nothing happens; tails, angry disgruntled account seeks retribution for “harassing phone calls.”

You may like dialing as many phone numbers and accounts as possible; yet, you need to manage your accounts to ensure you’re not dialing the same phone numbers too frequently. Otherwise, you will be annoying and harassing the debtor.

Depending on the collection type, duplicate numbers across accounts can be commonplace:

  • Healthcare/medical is one area that debtors can have multiple accounts within the same client and yes, unsurprisingly, using the same address and phone number. The multiple accounts are coming from different departments within the hospital like radiology, neurology and the emergency room. Even though the address and the phone number are the same, the reference number is not!
  • As for financial institutions, most debtors will have multiple loan accounts, using the same contact phone number.
  • In the case of Payday Loan Companies, a customer will apply and receive money for a loan amount at more than one branch. Sometimes they might use a different fraudulent name for each loan, but use the same address and phone number.  And yes, at times (not often) they will get the loan.

SmartDial has the ability to differentiate the accounts from the phone numbers. So even though the debtor has multiple accounts for one or the same number, SmartDial keeps track of whether the number has been called yet.

To prevent calling each phone number multiple times a day, IAT’s SmartDial solutions have a duplicate call feature built right into the system, which will check to see if the phone number it’s getting ready to dial has been called that day already. If it has, it won’t call it again, unless you override the system and tell it to do so.

Avoid the coin toss altogether and make sure your duplicate numbers are never an issue!

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This article was written by Mark