Driving value with automated debt management: How Flux builds to save operator time

Configurability was the key for Flux when developing an automated system for its clients to manage customer debt. With a growing number of clients who support large, complex retail books using the platform, Flux embarked on an automation project to make debt management a smoother and less resource heavy job.

This work enables our clients to utilise their talented operators in ways that drive real value for their business, rather than chasing complex debt processes. By automating low risk debt cycles, customers can move through the various debt cycles while requiring minimal handling - driving tangible growth and early results show a clear reduction in debt losses.

OPENING PATHWAYS

The Configurable Cycle Management System (CCMS) developed by Flux uses a single cycle of multiple stopovers to manage a customer’s account position overall - not just customers who have debt owing.

The original system had fewer options of debt stages to move each customer through, explains Principal Product Manager, Jim Barrett.

“The new system is staged so that customers are moved through in a controlled way. Through this we can add more stages and more options of paths out of debt for a customer.

“It also works with the software we partner with, such as SendGrid, for the payment reminder emails or letters to be sent when a particular stage is triggered.”

The system can group customers by their chosen billing experience, such as smoothpay. The system was built with configurability in mind, so a client can request for it to be tailored to include specific debt stages and pathways needed for their operations, giving you total control of your customer debt experience.

SAFEGUARDS  

The process of managing debt can ultimately lead to the potential for a customer’s power to be disconnected or for their debt to be referred to a debt collection agency. We take this seriously and want to ensure that as much room for human error that can be removed is, while still giving the operational experts the ability to oversee the whole process. 

Included in the CCMS are processes to specifically manage customers who have a vulnerability or medical dependency and cannot have their power disconnected. These customers are also clear within the system so they can be easily identified if needed and operators can offer additional support where necessary.

When developing the automation project, the ability to include customers who choose to pay their bills in non-virtual ways - such as in-person at the post office - was also added. This opens up Flux’s ability to cater to a wider range of clients - including more established retailers who may have customers who prefer to pay their bills using more traditional methods.

AUTOMATED FOR EXPERTS

Flux is well versed in the world of retail and ensures all of its product offerings are built to create an end-to-end streamlined experience for its clients. We pride ourselves on finding smart solutions to retailer pain points, and are consistently looking for ways to make our platform more automated and configurable for clients. In this instance, we’re taking away the time consuming tasks that often eat into operators' time. This frees up the experts to focus on high risk customers within the debt cycle. 

If you’re interested in how automated debt management, or any other of Flux’s product range, could help your business, don’t hesitate to get in touch.