Proprietary analytics solution strengthens collection strategies and increases client collection rate as much as 10%
SAN ANTONIO, Texas, Oct. 10, 2023 /PRNewswire/ -- Recently Frost & Sullivan assessed the debt collections services industry, and based on its findings, recognizes Teleperformance with 2023 Global Competitive Strategy Leadership Award. The company is a provider of digital business services and solutions. With a robust global footprint, the company's TP Collect solution stands out in the debt collections services market, delivering best-in-class technology that combines automation and predictive models with human touch while meeting privacy and cybersecurity standards.
Teleperformance addresses clients' needs and continually improves existing services with a focus on innovation to deliver a high-tech high-touch approach. The company leverages omnichannel digital collection solutions embedded with data analytics, artificial intelligence (AI), robotic process automation, machine learning (ML), and chatbot capabilities to deliver a better, more empathetic way to communicate with consumers. The company's proprietary technology solutions simplify the debt collection process, making it faster and safer. It has an extensive global reach, offering various options for onshore, nearshore, and offshore services. The company boasts a solid and established infrastructure, with operational sites specialized in specific market segments and portfolio areas. It provides first-party and third-party services, leveraging domestic and international labor markets to deliver cost-effective and flexible solutions.
Sebastian Menutti, industry principal, Frost & Sullivan, observed, "Teleperformance uses predictive analytic models to identify consumer affordability and vulnerability, estimate the propensity for consumers to pay off outstanding debt, and customize payment plans according to specific requirements, leading to more effective engagement and outreach."
Teleperformance understands customers' characteristics and payment patterns to deploy a debt collection strategy successfully. It has invested in stress testing and ethical hackers to prevent fraud while working closely with regulators to implement a governing framework that incorporates technological breakthroughs. The company uses client feedback and industry trend monitoring to guide its product roadmap and continuously evolve its solutions to maintain its innovative edge. Its dynamic service portfolio demonstrates the company's ability to catalyze competitive strategies based on market trends and consumer needs, leading to its success in the debt collections services market.
"Teleperformance creates tailor-made payment plans, which helps maintain and grow consumer satisfaction and thus building long-lasting relationships with its partners. It combines state-of-the-art technology with a dedicated human experience while complying with data security certificates," added Valentina Barcia, Best Practices research analyst at Frost & Sullivan.
Each year, Frost & Sullivan presents this award to the company that has leveraged competitive intelligence to successfully execute a strategy that results in stronger market share, competitive brand positioning, and customer satisfaction.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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