It has been suggested that we are currently experiencing a “developer drought.” In other words, there simply are not enough developers to meet the demands of today. However, with the rise of no-code applications, you can leverage the latest and most innovative technology without even needing the direct help from a developer.
For example, consider these three fantastic no-code applications:
- Mailchimp: With around 12 million active users, this email automation tool leverages no-code functionality to seamlessly integrate with a range of other tools (including Square, SurveyMonkey and Twitter).
- ProtoPie: Creating digital prototypes is no easy task—unless you are using ProtoPie. This no-code prototyping tool makes it easy for anybody to create their own digital prototypes in just minutes.
- receeve: With our no-code landing page builder, messaging builder, and strategy builder, agents and strategists can easily craft customised dunning approaches to achieve optimal collections rates.
What is a no-code application exactly?
This means that no-code applications are incredibly user-friendly and help you easily customise the customer experience. If you are a collections and recovery organisation, this might just sound like music to the ears.
In this blog post we will share the benefits of implementing a no-code application directly into your collections process to help your teams make the most of their time and effort in reaching out to your end-customer.
What are the benefits of no-code applications in collections?
No-code applications offer organisations a wide array of potential benefits—and this is particularly evident when it comes to collections.
1. Minimise internal resources
With no-code applications, every single employee can use your organisation’s various tools without needing to ask for help from their technical colleagues in IT. In collections, for instance, no-code applications empower agents to, among other things, quickly update payment methods and messaging, or even change the header image of their collections content without needing any additional assistance.
Maybe with your brand guidelines and policy, they will have some assistance beforehand. However, there is no need for a large amount of resources and assistance to make quick changes. (Speaking of brand and design, check out our blog post on the 5 Important Design Elements for Customer Experience in Collections.)
2. Rapid delivery
Perhaps an agent takes a look at your internal dashboard and notices that one of your landing pages is underperforming. For instance, maybe it has not led to a single repayment. When taking a look at it, you realise that whoever created the page forgot to add a ‘Pay now’ button—meaning past-due customers literally cannot repay what they owe.
Fortunately, with a no-code application featuring simple drag-and-drop functionality, agents can quickly dive in, add the relevant button and fix the problem right away. They do not need to request a ticket in order to ask their IT colleagues to step in and take it over.
Not only can you create dunning messages and approaches in a flash, but you can also fix any potential issues that you encounter in just seconds.
3. Improved agility and higher ROI
No-code applications allow collections teams to benefit from increased agility. They can create new strategies in a matter of minutes and A/B test a range of templates all at the same time to see which performs best. In turn, this increases your organisation’s ROI. Your agents become more productive and efficient, taking less time to complete tasks that normally take hours or days.
For example, if an agent needs to make changes and send out a payment reminder to a specific customer who can handle a self-curing payments process, they can do it all from within one platform and all in a short amount of time. This simple yet effective improvement to the collections process gives more time to the agent. Hence, agents will have more time to focus on the very delinquent accounts—those that need the most attention.
4. A simpler way to provide an omnichannel experience
With no-code applications, businesses of all shapes and sizes—whether they are small startups or large enterprises—can seamlessly provide past-due customers with an omnichannel collections experience.
If you are on the smaller size, you can compete against larger businesses that have bigger budgets and a larger headcount. Or, if you are a traditional enterprise struggling to keep up with your more agile (but smaller) competitors, then you can use these no-code applications to break free from your slow, outdated legacy systems.
No-code features in collections applications
Okay, let’s now explore the specific no-code features that will help take your collections approach to the next level.
- Email/Messaging Builder
By leveraging drag-and-drop functionality, agents can build collections content/dunning messages all by themselves. They can create a button, add a QR code as a shortcut to a landing page, or change the colours, header images and logo all by themselves. This process is quick, simple, and intuitive—whether you are an experienced collections agent or if it is your first day on the job.
- Strategy Builder
Collections employees can devise custom collections paths for delinquent statements according to a variety of factors: financial status, preferences, previous behaviour, and more. They can also use “If” conditions to ensure that if certain conditions are met, then your AI-based tool will automatically respond in the correct manner.
For instance, if an account belongs to an individual over the age of 40, then your collections software will send out Template A. If they are under 40, however, then it will send out Template B. Or, if there is a delay over 30 days, then it will enable callback. If not, then it will instead send out SMS or WhatsApp messages.
No-code is a no-brainer
If adding the resources of an entire development team is not in the cards, then the no-code options in your collections software might just do the trick. By implementing no-code applications, each and every one of your employees can make the most out of exciting, forward-thinking technological developments.
Introduce no-code collections software to make your employees’ lives easier. With this innovative technology in hand, your employees will be more productive and produce more successful results. To find out more about receeve’s no-code capabilities, get in touch to speak to one of our experts.