How a leading British Telecom giant exceeded its cash collection targets

The client achieved a 15% reduction in debt and 40% improvement in tracking missed payments via Automation

Client Description

Client - Leading British Telecom Giant
Industry type - Telecom
Core Business - Information and communication
Geography - Americas, Europe, Asia, Middle East and Africa
Annual revenue - £23.746 billion (2018)

Challenge

The leading British Telecom giant was facing High state regulations that affected the collection and recovery processes, leading to low operational efficiency. There were recurring issues with missing payments in managing collection operations that were affecting the customer experience.

There were also challenges with the collection of renewal fees per collector due to inefficient operations.

Solution

Wipro Collections-as-a-Service helps manage both business and consumer debt collections. Wipro has strong expertise of managing Collection and Recovery operations for customers across the industries. Wipro’s solution for the client included:

Leveraging process excellence tools and advanced analytics to improve the overall collection process like using RPA for sending email/letter reminders of pending payments
Delivering high operational efficiency with our integrated offering of automation, process engineering and data management
Reducing incoming calls across the collection lifecycle through the deployment of the virtual chat bot to resolve customer queries

Business impact:

Using Wipro’s Automation solution, the client achieved improvement in cash collection and in tracking missed payments.

The business impact resulting from the solutions included:

How a leading British Telecom giant exceeded its cash collection targets

"The client succeeded in significantly driving down its non-paid consumer customer churn using Wipro’s automation solution. Overall, the company achieved reduction in operational costs by 31-40%”

- Gurpreet Bajwa, Practice Head – Collections, inance & Accounting

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How a leading British Telecom giant exceeded its cash collection targets

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