RO-AR.com : Numbers, Nuances & Observations

More insights and videos at https://www.ro-ar.com

Mark Morrall and Ian Simpson discuss some of the trends they have seen in cloud software and in particular in the Collections software market.

With the cloud based software, leveraging economies of scale, advanced features are gradually becoming available to all sectors of the market…. and from a delivery point of view, physical infrastructure light and highly user configurable… it is becoming a game changer and fueling yet more dynamism in the sector.

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Guy Statter from Qualco discusses some of the themes around where we go next within Credit and Collections processes.

It is a troubling time with inflation and an increasing cost of living, and we are likely to see higher volumes and digital servicing has a part to play in helping customers... to do this well is about seamlessly linking customer journey elements and services together.... with new technology around the corner (and data) it is allowing this to be customized to ever greater levels offering more targeted support.... the customer experience is important.

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James Fell from Credit Canary discusses some of the gaps he has seen in assessing both new and existing customers for creditworthiness and the likelihood of financial difficulties. The timeliness of the information and the detail shared have both been barriers to forecasting forward.

With pressing issues from the cost of living, and dynamics changing from what they have been historically, it is becoming ever more important to head off issues and provide solutions…. especially as it continues to evolve this year.

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Wayne Brown from Alvarez and Marsal and I caught up at the end of 2022 to discuss what happened in 2022 (it was quite the year)... and building on their whitepaper, what is the outlook, and what do they feel the key themes be for 2023.

  Read more about their predictions for 2023 in their white paper here -> here

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In this interview with Vanessa Northam from StepChange we discuss the current situation, with the increasing cost of living affecting everyone, and what they are seeing within their sector and the need for Debt Advice.

It is clearly going to be hard to predict in detail where this will impact, but we do know that it will also start to impact new cohorts of customers in new ways too, with impacts being seen in different industries at different times.

Lastly, we chat a little about the future of debt advice. With new funding structures announced it will likely change the dynamics in the sector... something to watch closely as this evolves.

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 In this interview with Paul Jozefak from Receeve we catch up on what has changed since our last discussion. 
There is definitely now a move towards execution and implementation of digital capability post the pandemic, with some trepidation of what may be due to happen with energy costs and inflation. 
Contacting customers early, pre-collections, marketing avenues of support for customers that could be available should they fall into arrears, is an opportunity now. 
Doing this in a significant way, without adding significant cost is of course the challenge. 
Data, and data based strategies can help, providing insight on who to contact, how to contact and when work... something Paul also explains, together with the importance of going digital to be able to react on this at speed. 
'Interesting times'... for sure 

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In this full interview with James O'Hare from Link UK, we discuss some of the latest developments in messaging and communications. 

In particular how businesses are having to adapt to handling consumers' shorter attention spans and how delivering richer content to mobile devices can really help... it this the end of the webpage? Maybe it is!

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In this full interview with Matt Whale from DebtStream we chatted about the most recent developments in Digital and Collections. This has clearly evolved from being a necessity for many companies to stay in business to now being a necessity for customers, so a need to stay in business.

However, this is still evolving and there is now much more nuance and understanding of how digital is not an endpoint but a tool to help, and it needs to become embedded within the whole customer journey... The question is now personalization and orchestration.

More insights and videos at https://www.ro-ar.com

 The full interview with Ken Doherty from Cerebreon where we discuss the use of data analytics tools from other fields of science and how they can be applied highly effectively into financial services. 

More insights and videos at https://www.ro-ar.com