Increasing Trustworthiness And Reliability In Consumer Finance Companies Through Billing Inquiry Outsourcing

The consumer finance industry is not only grounded on money; it is deeply rooted in consumer’s trust. To encourage more customers to avail of their services, they have to be accountable enough in managing the assets that go in and out of their organization.

Providing their customers with certain tools that would allow them to see the current standing of their loans — personal, business, car, house —is a great way to do this. Today, where several channels and tools are available, promoting trust and showing reliability is easier.

handling billing inquiries services is one way of doing this. By providing service to customers whenever they needed some help regarding their accounts, a consumer finance company’s trust ratings will significantly improve.

Not just limited to calls

Customer service outsourcing, in general, is not limited to calls. Business organizations should make sure that their customers can reach them using their preferred channel at any time of the day. Many businesses from various industries have already seen this importance. And financial institutions, whatever its nature is, should too.

The good thing about billing inquiry outsourcing is its ability to provide customer service using all channels used by customers. Additionally, it can also operate on a flexible schedule (24/7) — making it more fitting for customers who experience some issues even on midnights.

Billing customer service can answer customer concerns through traditional phone calls. This is helpful when a customer considers the problem as urgent or complicated. This way, the agent can assist the caller better.

Social media is also a good way for this as well. It offers a fast and convenient approach to solving customer problems.

When the consumer finance company has a mobile application or a website, having a team handle the web chat, email, or app support is also helpful. Offering billing inquiry customer service through these channels make it easier for customers to track the status of their accounts, thus promoting trust to the organization.

If all consumer finance companies give importance to this, they can also use the data they have gathered to listen and analyze the needs and feedback of their customers regarding the service they receive.

Is billing inquiry outsourcing safe for consumer finance companies?

Billing inquiry outsourcing generally involves the process of answering queries of customers regarding their accounts and the current standing of their financial loans.

The usual concern about billing inquiry outsourcing is the loss of control and data breach. Consumer finance companies should be careful in selecting an outsourcing company. To protect customers’ data, the BPO company complies with international standards and regulations. Through this, they can secure sensitive client information. In return, they can improve customer relationships and eventually, build trust in the industry.

It’s not always about the money. More than their day-to-day transactions, consumer finance companies should focus more on how they could improve their service. This, in turn, would breed trust and customers who are more willing to pay their dues on time.

Are you planning to outsource billing inquiry services? Partner with Magellan Solutions. Contact us now for more details.