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Has the volume of calls and requests from your customers become overwhelming? Maybe you’ve considered establishing an in-house call center but have found that the costs of doing so add up—fast. You want to do everything you can to ensure your company provides the best customer service, so what are your options?

Many auto finance companies have looked towards outsourcing. The benefits of outsourcing call center services surely outweigh those of establishing one in-house, ranging from cost-efficiency to expanded coverage hours and everything in between.

If you’ve found yourself at a crossroads and are unsure about delegating the responsibilities to a Managed Servicing partner, continue reading to see what’s motivating others to take the leap.

#1 Cost Reduction

Leading managed servicing providers continually invest in the technology and systems to efficiently support call center experts. It would be difficult for an auto finance company to match the expertise and level of software and communications infrastructure. 

As an experienced provider of call center services for loans and leases, the right managing servicing partner will have years of experience in selecting, implementing, and updating the technologies that support call center efficiency. As a result, the benefits of outsourcing call center services offer a better level of customer service at a significantly lower cost than if you made the investments in technology and training yourself.

#2 Flexibility and Scalability

Running a call center in-house will subject your customers to periods of high call volumes and a lack of available agents. Outsourced call centers can plan for call volume peaks and dips, and therefore, can schedule the necessary staff at the appropriate times.

Outsourcing providers have the size and staff to ramp up quickly, leaving your employees the time to focus on other important tasks critical to improving and growing your business. If you own a small auto finance company, chances are your staff is limited in size. When they’re constantly getting side-tracked by filling in customer service gaps, their focus is disrupted, and productivity decreases.

#3 Expert Industry Knowledge

As an auto lender, you want to ensure that the call center staff is experienced in all facets of support. A trained and experienced call center staff will be able to provide essential customer services, including: 

  • Answering questions about your lending programs. 
  • Providing welcome calls to inform new clients of your payment processes. 
  • Providing guidance in any situation a client may be facing, such as financial hardship or how-to requests. 

58% of customers say that the customer service experience is one of the most important factors in selecting a company, and 36% say that lack of knowledge or ability to solve an issue is the most frustrating aspect of a business.

#4 Expanded Operational Hours

Borrowers would love to pick up the phone, send an email, or start a web chat and reach a live representative at any time of day or night, seven days a week. Unfortunately, everyone is on a different schedule, so limited in-house call center operations that only provide service during business hours isn’t always convenient. 

An in-house call center with 24/7 availability is unrealistic for most auto finance companies. It would require 24/7 staffing, management, and equipment usage. Even if you’re able to find expert employees to work the “graveyard shift,” you’re looking at significant cost increases.

#5 Data Collection and Quality Monitoring

With every borrower call comes information that needs to be captured and analyzed to improve the clients’ processes. Experienced managed servicing providers have the necessary technologies that include analysis platforms used to unlock valuable insights from large amounts of raw data.

By analyzing this data, they are also able to track call resolution and answer time. The monitoring tools and performance assessment software allow you to see where your customer service is lacking and where it is successful.

The Benefits of Outsourcing Call Center Services Outweigh the Negatives

If the right outsourcing provider is chosen, there are no disadvantages to outsourcing your call center.  Pushing call center responsibilities on a provider who is equipped and experienced to handle the daily intricacies of an auto loan call center will allow you to focus on the higher-level functions of growing your business.  Auto lenders who disregard the benefits of call center outsourcing could feel the effects of higher business expenses and lacking customer service.

Getting Started

defi SOLUTIONS acts as white-labeled extension of your business, where you can realize the benefits of outsourcing call center services at lower costs without sacrificing quality customer service. We have the experience to optimize these benefits and the expertise to handle all your servicing needs. Contact our team today to learn more about how you can benefit from call center outsourcing.

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