Zinc Group

Solutions used

  • Outbound Communicator
  • Real Time Speech Analytics

Enghouse Interactive Helps Zinc Group Achieve Collections Success

Founded in 2008, Zinc Group is a UK-based credit control, recoveries management, and business process outsourcing company operating in both the B2B and B2C arenas with offices in Glasgow and Stratford-upon-Avon. Its focus is on understanding its clients’ needs and delivering innovative solutions that help build success both for them and for their customers.

Background

With credit management and debt recovery core to the Zinc Group’s operations, it is vital that it deploys technology that not only supports efficient and effective customer communications but that is also compliant with industry regulations and can help ensure end customers are dealt with sensitively at all times.

The need for compliance is certainly a key and increasingly important element of this. As Dougie McManus, CEO of Zinc Group puts it: “Compliance is one of the hottest topics in collections today but it is also an area that has undergone a shift in focus over recent years. The industry used to be regulated by the Office of Fair Trading. Over the past year, there has been a transition over to the Financial Conduct Authority (FCA) – and in tandem a shift to an even greater emphasis on treating customers fairly.”

“Today, there are compliance requirements around incoming expenditure, finding out the financial circumstances of the client and ensuring that the arrangement that the provider makes with the client meets their financial affordability model.”

Solution

That’s why Zinc Group was quick to recognise the potential of the latest outbound, quality monitoring, call recording and speech analytics solutions in helping to ensure that companies operating in the debt recovery space are compliant in all of their dealings with customers. It’s also the primary reason why Zinc Group now relies on Enghouse Interactive Outbound Communicator and Quality Management solutions, and, in particular, the call recording and speech analytics technology embedded in the vendor’s Real Time Speech Analytics solution, to deliver a fully compliant, high quality service to customers.

Results

With the introduction of the new increasingly stringent FCA regulations, for many companies in this space the need for compliance is almost always top of mind – and the Enghouse Interactive solution helps Zinc Group stay ahead of the curve on all requirements.

This is where the Real-Time Speech Analytics adds competitive advantage by indicating live during a call, when important or mandatory information has been missed or incorrectly stated. This helps ensure that contract terms are explained correctly, for example, and in some cases stops agents giving advice which could potentially be misconstrued. All of this helps to deliver compliance while helping to reduce customer disputes.

If the Enghouse system identifies additional requirements – for example with vulnerable cases – then sub-menus are brought up for the agent to tick off. Such a visual representation means that, as the call is drawing to a close, the agent can see if there are a number of elements that they still need to go through, so they are constantly being coached and encouraged to learn how to do things in the best way.

“Enghouse Interactive Real Time Speech Analytics has been invaluable to us,” continues McManus. “This kind of technology and approach is key in ensuring that agents are fully compliant with all stipulations by the end of the call. Crucially, the call does not have to be rigidly scripted. It is important that the conversation is natural and not stilted, of course but the technology allows the agent to ensure that they are using language that complies with prevailing legislation.”

With the Real Time Speech Analytics solution in place, every agent can see an on-screen bar prompting them of the various elements that they need to include. As they complete them, they are ticked-off and physically leave the bar to indicate that they are complete.

Another major benefit of the Enghouse Interactive solution is that it allows Zinc Group to assess a much greater proportion of calls than would have been possible before. This in turn helps to ensure that agents are delivering the required outcomes and results to clients and to customers.

In the past, because of the inherent limitations of the technology and the processes that Zinc Group employed, the company had been able to only take a very small proportion, approximately 1-2% of every agent’s calls to sample, review and score. With the Enghouse Interactive Real Time Speech Analytics solution, however, it is able to grow that figure significantly to almost 100%. This provides an audit call process that is effectively able to cover the vast majority of calls rather than just a small sample.

For more information, please watch the video case study below.

Dougie - Zinc Group