Balance Customer Risk

kurteus™ couples leading-edge technology with an innovative service delivery approach to create a new paradigm in customer risk management processes. We call it Talkonomics™.

The Talkonomics™ approach targets the three fundamental areas of customer risk in order to deliver business value.

From a financial perspective, customers pose a higher risk the longer it takes them to pay their bill. Not only is this a risk to the utility’s cash flow, but costs are driven higher because of the requirement to treat these delinquent accounts. Eventually, the riskiest customers will charge off, further impacting the utility’s bottom line.

From a cost perspective, a customer poses higher risk the more they interact with the utility. Whether it’s utility-initiated contact or customer-initiated contact, each interaction has an intrinsic price that contributes to the overall cost-to-serve.

An unsatisfied customer is also a major risk to the utility. An unsatisfied customer may complain to the regulator or call your inbound queue, driving costs. In competitive markets, unsatisfied customers may jump ship. In addition, an unsatisfied customer may not pay their bill, making them a new financial risk.

 

Talkonomics™ Strategies

The Talkonomics™ Process leverages three overarching strategies to balance customer risk.

Know Your Customer – The data housed within your systems of record hold a wealth of information about your customers. The Talkonomics™ Process uses it to see each individual customer, creating intelligent two-way conversations over multiple channels. Customers receive tailored messaging and self-service options relative to their unique situation.

Stay in Touch – Effective charge off mitigation begins the minute a customer consumes product. The Talkonomics™ Process is designed to establish contact early in the debt lifecycle and maintain it throughout. This ensures balances remain manageable and that interventions are made before customers accrue excessive debt.

Expand Communication Channels – Offering a wide array of service channels enables better customer care. It also enables you to lower your cost to serve each customer. The Talkonomics™ Process makes it easy for customers to self-serve via web and voice channels, allowing you to reach a wider audience without breaking the bank. Email and SMS functionality rounds out the channel offerings.