In an omnichannel world, progress is determined by how extensively communications take effect. Today, the traditional ‘picking up the phone’ is just one of several channels by which companies collaborate and interact with their customers. When it comes to the debt recovery challenges faced by companies today, the potential of omnichannel has been a large opportunity, observed by The CMI Group. “We are an intersection of optimizing the omnichannel through technology, dedicated people, and a customer experience aimed to set the clients head and shoulder over the competition,” says Jim Lynch, COO, The CMI Group. The company has invested heavily in state-of-the-art technologies and customer service professionals to create partnerships, solving customers’ issues, regardless of the channel they choose for contact. The full-service receivable management firm offers innovative first- and third-party accounts receivable management, data processing and back office solutions.
The CMI Group’s Contact Service Center offers customized, best-in-class, outsourced call center solutions to assist clients in improving customer loyalty and brand image, which in turn accelerates cash flow and revenue. Each customer interaction CMI makes is aligned with the quality and compliance standards, which not only resolves and effectively manages the receivable issues but also increases the lifetime customer value. The company focuses on being at the forefront, utilizing their expertise in custom-fit service to understand customers’ requirements and identify their behavior patterns for a more effective contact. Thus, CMI’s objective is to maximize both resource and savings for their customers through better understanding of cutting-edge technology and collaboration with their customers.
With their receivables management division, CMI operates in the cable and the telecom space, in situations where consumers could find themselves delinquent. This is pertinent in instances concerning a billed due date on payments, where CMI can facilitate specialized routines to schedule reminder calls, communicate through SMS, utilize telephony or any other platform to best meet the scope, and deliver the best fit for that project. In other cases, certain outbound efforts are constrained by the Telephone Consumer Protection Act (TCPA), limiting the scope of communicating with larger audiences. CMI can mitigate those restrictions through their TCPA compliant dialing campaigns and innovative use of omnichannel solutions to gain optimum efficacy over multiple communication nodes.
We are an intersection of optimizing the omnichannel through technology, dedicated people, and a customer experience aimed to set their clients head and shoulder over the competition
In a bid to enhance the performance, cost, and quality of customer interactions, the company offers sophisticated quality and compliance programs while developing and executing debt recovery strategies. CMI leverages quality and speech analytics tools that help measure the tone of speech of the consumers. Another is a post-interaction survey, where the team can reach out and simply ask the customer as to what they thought of their last interaction. That survey can be delivered via multi-channel through e-mail, SMS, or as a prompt to answer a single simple question. While serving post-interaction survey to customers, CMI engages in a dialogue taking a consultative approach to figure out their needs.
In the case of one of CMI’s clients, the objective was to reduce their internal expenses, while still driving productivity and liquidations. To add to that, keeping up with all the regulatory and compliance requirements was yet another challenge. With their consultative approach, CMI understood what that liquidation curve looked like for a certain segment of the business. CMI found niche areas where they saw an opportunity for the client to address separate populations and businesses differently. The result was an upward liquidation curve, while simultaneously reducing expenses.
A 100 percent employee-owned company, CMI’s employees receive stock to the organization, which truly set them apart. Currently, CMI has invested in a marketing and sales effort to expand their revenue cycle management service offerings to the health care market.