There are a vast number of telecommunication tools available to collection professionals. While each is tied to Alexander Graham Bell’s greatest creation in some way, each has a defined function to enhance professionals’ ability to communicate with consumer. But with a pool of tools so large, there are many myths floating around about their functionality and compliant use. Collection Advisor consulted telecommunication experts to clear the air and debunk some of these myths.
What is a myth regarding telecommunication technology you can debunk?
Lex Patterson President of DAKCS Software Systems
A common myth is to focus solely on the rate-per-minute when shopping for solutions. How you are being billed is just as important as what you are being billed when determining overall cost of service.
For example, the most common call in our industry is the short duration call or calls of six seconds or less. All suppliers bill in six-second increments; however, many companies will round those calls and bill on 12, 28, or 30 second minimums. You may be paying extra for no additional benefit. This additional hidden cost gives the illusion of a low rate but is offset by paying for a bunch of minutes not being used.
Track your minimum call duration numbers. Armed with this information you can review the carrier’s billing methods to make sure you’re getting the best bang for the buck.
Jeff Dantzler of President of Comtronic Systems
That a phone system that is not fully integrated with your collection system, saves you money just because it may cost less upfront. Actually, there is no way a stand-alone phone system, whether VOIP or not, can compete with the return on investment from a fully integrated phone and collection system.
Chris DeLess Chief Technologist at KG Hawes
The truth is, now even the most advanced technology is affordable. With how quickly innovations are being made, technology that would have cost $100,000 three years ago, is now available for under $30,000, and prices continue to drop. In addition to the availability of the most advanced technologies, many companies also offer scalable technology services and pay-as-you-go models.
Danny Cantrell CEO/Founder of Solutions by Text
That a first-party or third-party collector, or even a debt buyer, can text their customers.