Call centers are a significant aspect of your business. As the centralized offices that help lenders interact with and support customers, they are essentially the on-off switch to your reputation, growth, profitability, and overall success as an auto lender.
However, these central hubs can get overwhelmed. Large volumes of inquiries are coming in, and other responsibilities are moving to the back burner. It’s a struggle to keep up. That’s why turning to business process outsourcing (BPO) call center operations has become the premium choice for auto lenders everywhere. So, why are lenders swearing by expert BPO service providers to successfully manage their call centers? We’ll explain in the following three criteria
Business Process Outsourcing Call Center Benefits: Digitalization
“Technology is the future” has become an irrelevant phrase in society today. Technology is the present. Nearly every aspect of our lives depends on digitalization, automation, advanced software, and alike. It’s become the foundation of everything we do. Why? Because it turns even the most complex tasks and processes into a quick and easy endeavor.
Transforming your processes into a digital experience should be a priority. Remember, the age of technology has come, and customers expect you to keep up. Financial services are costly and require following state and national compliance carefully, and when the entire process is done manually, consumes so much valuable time from lenders and borrowers alike. Without digitizing your services, your operations can be deemed slow, confusing, and inconvenient.
Implementing forward-thinking technology in loan servicing processes using a provider like defi SOLUTIONS means you have the power to speed up loan processes and provide borrowers with easily accessible information and documents. Lenders need solutions that provide the user experience that today’s borrowers expect, and here’s why. Borrowers can:
- Set up automatic payments or make one-time payments.
- Access account statements and current payoff amounts.
- Provide or make changes to contact information.
- Inquire about account status through other forms of communication like email, text, and chat.
In recent years, 60% of consumers have reported that automation is their first choice in customer service tasks. Virtually everything can be done with a phone, computer, or another device with the touch of a few buttons, and lenders should take advantage of it.
Realignment: Focus On Efficiency and Cost Savings
If you don’t already have one (or if you do and have a growing loan or lease portfolio and need a technology upgrade), a modern call center requires investment in equipment, operations, and staffing that can be prohibitive. As a savvy business owner, you want to take advantage of the latest technology and maintain an expert staff while streamlining processes to keep costs in line and end the fiscal year within your projections.
When your call center services are outsourced, you’re likely to see a reduction in operational costs. Some auto lenders have chosen business process outsourcing call center operations for the cost savings alone, but it can serve you in various ways.
One of the most challenging aspects of maintaining an in-house call center is making sure you have the right resources to meet your business’ needs on any given day. For example, high call volume days get hectic, and spreading everyone thin to cover all bases leads to rushed, unclear or incorrect responses, or obvious attempts to move on to the next customer, which can have a negative result—resulting in lengthier calls and higher call volume caused by repeat callers.
An optimal BPO provider offers call center services that eliminate this issue with resources and expertise, including multilingual staffing support, to handle your peak volumes and customer expectations accordingly. Lenders can have peace of mind knowing they don’t need to scramble to manage changing call volumes with staffing and other office resources. As a result, you’ll no longer have to worry about overworking or understaffing your call center, overhead expenses are reduced, and the money saved can go to other initiatives of your business.
White-Glove Service: Improved Customer Retention
Your call center is the central connection between your business and your customers, and therefore your reputation. No matter what customers are calling in for, you want formidable staff that can address any subject (e.g., loan services, password update, or loan terms). Experienced third-party providers act as an extension of your team, providing your customers with white-glove service.
This approach ensures personalization and undivided attention to each customer. People crave speed and an experience that makes them feel heard and catered to on an individual level.
White-glove, white-label service isn’t simple and can be challenging to deliver on. defi SOLUTIONS champions the interests of businesses like yours and focuses on helping you build a brand people will love by committing to the following:
- Creating memorable customer service experiences no matter the inquiry.
- Offering creative ways to delight borrowers.
- Following up with customers to show genuine appreciation for their business.
- Responding quickly and considerately (82% of customers expect an immediate response, or they’ll switch to competitors).
- Doing everything possible to build loyalty and increase customer retention.
A professional, outsourced customer service team can transform your business into the best version of itself. Their ability to communicate directly with customers and build connections drives your company forward and grows your customer base, putting you well above competitors as the preferred auto lender.
The Bottom Line
At its core, customer relations require strategies and technologies to manage interactions with borrowers. Outsourcing your call center gives you access to these tools, helping you build trustworthy relationships that create loyalty and customer retention, resulting in increased profits.
Remember that maintaining your call center requires various resources that you may not have access to. However, defi’s contact center solutions offer these services to improve auto lending services with customer relations at the forefront, along with numerous other benefits.
defi SOLUTIONS’ has more than three decades of experience providing lenders with phenomenal outsourcing services. Our representatives have the skill and expertise to ensure your customers always have a positive interaction and build lasting relationships with your brand. If you’re ready to learn how business process outsourcing call center operations can help you realign and achieve your business goals, contact our team today.