In the debt collection industry, one of the most pressing challenges is the high cost and inefficiency of manual processes. Human agents, while valuable for complex cases, often struggle with the sheer volume of calls required to reach a diverse customer base.
This results in high labor costs, low penetration rates, and limited scalability. Moreover, without automated segmentation, it is difficult to tailor communication strategies to different customer profiles, leading to generic, less effective outreach efforts. These inefficiencies make it harder to recover debts quickly and can significantly impact a company’s bottom line.
Before adopting automated solutions, GoTo Financial relied heavily on human agents to conduct debt collection calls. This manual approach presented significant challenges, as it was difficult to segment customer reminder journeys based on different profiles and needs.
Additionally, the limited efficiency of human-driven outreach meant that customer penetration was not optimal, resulting in time-consuming processes and resource inefficiencies. The lack of segmentation also affected the ability to tailor communications to specific customer behaviors, further complicating the debt recovery process.