Goal
Enhance collections performance by improving contact and payment rates on pre-legal accounts through a digital-first
approach while providing empathetic communication tailored to each state’s regulatory needs
Challenges
Declining Contact and Payment Rates
The firm experienced a significant drop in engagement with pre-legal accounts, impacting overall recovery efforts.
Outdated Collection Methods
Traditional collection methods were no longer effective in maintaining client interaction and securing payments.
Lack of Data Insights
The firm’s lack of analytical insights hindered its ability to optimize outreach strategies
How We Made it Happen
Implementing a Digital-First Strategy
We leveraged Firstsource’s proprietary solutions to develop a digital-first strategy, utilizing SMS and email communications to enhance client engagement and streamline the collections process.
Enhancing Engagement Through Personalization
By employing data-driven insights, we created personalized communication strategies that resonated with clients, fostering improved connections and facilitating easier payment processes.
Utilizing Analytics for Targeted Outreach
Our approach harnessed advanced analytics to identify borrower behaviors, enabling targeted outreach and follow-ups based on individual client circumstances, thereby improving payer rates.
National Footprint and Domain Expertise
Our national footprint and domain expertise allowed us to tailor strategies to meet each state’s specific regulatory requirements, helping the law firm adhere to state regulations while optimizing its collections efforts.
