New multi-channel communications resolves bad-debt issues worth £15m
Our Client, Big6 energy brand supplying the UK business energy market was once known to have class-leading bad-debt processes.
More recently their processes had become no longer fit-for-purpose, with more of its business customers getting into debt.
This was happening when budgets were constrained and increased pressure on resources meant reduced team sizes within the collections department.
Careful examination of our client’s operating model and processes highlighted that their debt operation limited the opportunity for early engagement with customers, leading to an increased number of ageing debts.
BFY transformed the department into a more customer contact focused operation, creating and deploying multi-channel communications for different customer segments to maximise customer engagement.
We planned ongoing contact and ensured communication was appropriate at every step of the customer-journey, helping our client ensure debt issues were resolved earlier.
BFY helped the client achieve a reduction of more than £15 million in its debt book.
We drove a 50% uplift in inbound customer contact, generating an additional £2 million in credit and debit card payments in year.
Thanks to new processes, 35,000 customers were classed as ‘rehabilitated’, paying their bills on time each month.