A US-based Personal Finance App Partners with Abacus to Help its Users Track Their Expenses and Negotiate Better Deals
Abacus Cambridge Partners demonstrate their prowess in business process outsourcing (BPO) by dedicating their expert call service agents to support a financial services company in bill negotiation.
The Need for Outsourcing
Today companies must diversify in order to generate higher revenue. With so much competition in each industry, it is only logical that no one organization can take up the bulk of work. Even if they do hold a large percentage of the market, they can’t execute the large amount of work alone. This brings us to the need for business process outsourcing or otherwise known as BPO.
Where Our Journey Started
In June of 2020, Abacus was approached by a financial services start-up that developed an app for its customers to track their expenses and budgets in many different ways. Their core service was an app that offers exceptional financial services with improved user experience. Along with the app, they created a bill negotiation service for their customers. Being a start-up, they needed support in fulfilling their bill negotiation service. This was a new service where agents negotiated lower rates on behalf of their customers, and they needed resources to take on those calls.
Abacus assigned a team of around 30 experts to facilitate the new bill negotiation service. As this process involved financial information, security was a top concern. We embraced our client’s mission, aligning with their goals and values to work as one. Each expert went through an intense training schedule in order to execute and improve the new service, walking through common issues, standard processes, features, offerings and more.
Every Call is Unique
Every call is different, no matter how similar the issue may seem. Negotiation requires personalized communication and no interaction is the same. The process requires patience, as agents could be on hold for up to an hour to negotiate bills. But as each call is resolved, the relationship between agents and other customers strengthens, reducing the time and complexity of each call.
We Synergize to Work as One
The financial service company was a start-up which meant new problems could arise at any time. They needed a team of educated and forward-thinking individuals to support their growth and cater to indigenous challenges of the financial sector. We ensured the requirements for agents on the account. The selected agents were remarkable communicators and negotiators, demonstrating empathy towards the customers across all channels. Additionally, adaptability remained one of the core capabilities of the Abacus team to support the agility and flexibility requirements of our client. We knew that our client was new to this service’s issues as well, so collaboration and adaptation were key ingredients to success.
We’re now working with the organization’s internal teams to help them improve their response times.
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