Ethical Collections in Utilities & Telecoms
Reducing bad debt, generating efficiency and improving the customer journey. An Intrum white paper.
Technology is transforming collections.
Utilities and telecoms companies should expect Financial Conduct Authority
standards as a matter of course when outsourcing to the debt collection market and selling their debts.
At Intrum, we don’t believe it is acceptable to treat people differently because of the type of debt. As well as utilities and telecoms we’ve been working with local and central government to transform their approach and we know it works. Ethical collections doesn’t mean being soft – it’s about working with
customers to find a solution.
Securing accurate and up-to-date income and expenditure information is the crucial first step and customers should be able to do this over the phone or using online specialist facilities. Debt advice must be effectively signposted, technology used to flag vulnerability and sympathetic, expert help
on hand – whether that’s from a customer support representative or an artificially-intelligent chatbot.
These tailored technologies require high levels of investment that can be impossible for an energy business to justify when collections is only one aspect of the business. To a collections specialist it is everything.
The Utilities and Telecoms sector may fall under different regulation to financial services but that doesn’t mean customers should be treated differently. Best practice doesn’t change.Eddie Nott, Managing Director, Intrum UK