Sitel Risk Management Launches New Service Offering for Small Balance Collections

Nashville, Tenn.–Sitel, a leading global business process outsourcing (BPO) provider, today announced that it has launched an innovative new service offering designed specifically for small-balance consumer debt collection. Designed to collect small balances early in the process, Sitel’s solution integrates multi-channel outbound customer messaging, first- and third-party collections, agent-led collections and consolidated customer reporting.

The service significantly lowers the direct-mail costs and high-volume calling tactics found in traditional small debt collection. Sitel’s service increases the level of interactivity between clients and consumers through a unique blend of automated voice systems, agent interaction, direct mail, proactive outbound calls, web services and payment options. Strong customer care is central to the offering; it is designed to simultaneously collect small balances while maintaining the customer relationship.

“In this economic environment, there is tremendous opportunity for companies to collect early-stage debt in a cost effective manner,” said John Farinacci, COO of Sitel’s Risk Management Division. “Sitel’s creative and flexible solution helps clients quickly deliver an effective and meaningful customer experience, while reducing the overall cost of customer care and turning early-stage debt into revenue.”

One of Sitel’s large, consumer-focused clients recently implemented this new solution and cut the average cost per customer by nearly 50 percent and increased collections by approximately $7 million. The client also experienced reduction in roll rates. The solution is ideal for retail, financial services, utilities, communications, media and entertainment companies with subscription, periodic payments, and repetitive payment models.

Sitel is a leading provider of contact centers for customer care, managing more than 3 million interactions a day on behalf of the world’s leading companies.

About Sitel
Sitel is a global Business Process Outsourcing (BPO) leader. The company meets clients’ customer care and transaction processing needs through 60,000 associates in 27 countries. Sitel provides world-class solutions from on-shore, nearshore and offshore locations across 155+ facilities throughout North America, South America, EMEA and Asia Pacific. The company’s award-winning services provide clients with the strategic insight, scale and diversity of offerings to ensure the best return on their customer investment. The company is privately held and majority owned by Canadian diversified company, Onex Corporation. For more information, please visit www.sitel.com.