Update November 2022 – This year was one of expansion for the P&B Capital Group team, and we’re continuing to grow. To help drive these three core principles for our customers, P&B Capital Group put out a detailed careers article highlighting our growing team, exceptional culture, and commitment to professionalism. As P&B continues to grow, so too will our services and offerings for our customers.
April 2022 – Established in 2004, P&B Capital Group has been a leading nationwide provider of collection services for creditors for nearly 20 years, and in that time we have learned three essential principles for collections services success. While the processes have changed as technology has grown, our principles have remained the same. We remain committed to providing positive experiences to consumers to deliver positive results to our clients. We have found that three core principles of collections services success are empathy, clarity, and efficiency.
Empathy for the Consumer
As collectors and as humans in general, the tone and manner of how we communicate are often even more important than what we communicate. As collection agents, we understand that we perform a necessary function in the economy and credit ecosystem. We also understand that our entrance into consumers’ lives is not necessarily welcomed by consumers. No one wants to have an account in collections. There may even be stressful, unpleasant, or complicated life circumstances surrounding how consumers wound up with an account past due. With this in mind, compassionate professionalism is a helpful starting point for communications.
It’s critical to listen and respond to consumers courteously and without judgment. While every representative may not understand first-hand every circumstance, empathy can go a long way in every situation. Working toward account resolution is much smoother and more successful when “soft skills” are applied. Our team members have the important ability and skills to integrate emotional intelligence and empathy into how we communicate with consumers, paving the way for more positive experiences.
Clarity in Communication
Another principle for collections success is clarity in communications. The collections process can be confusing. It’s important to make it as intentionally clear as possible. Promptly providing validation information is not only critical for compliance success but important for collections success. Simplifying and clarifying to consumers the life cycle of their individual accounts and the role the collection agency plays in collecting the bill is a process that should be both expected and welcomed by representatives. This communicates respect, and respect goes a long way.
Providing clear communication includes prompt responses to consumers, being as available as possible during business hours, and providing an easily navigable, mobile-friendly website and online payment option. Ease of use and ease of access online translate into positive experiences for everyone involved. We’ve invested in creating a strong digital presence to meet consumer needs and preferences with more options and around-the-clock account management. P&B Capital is a sponsor of the Money Chat series and provides helpful links to various financial literacy resource sites on our Consumers page to provide additional clarity regarding credit and debt.
Efficient operations are a critical component of being a successful collection agency. As a service provider, return on investment is an important performance measure. The more efficient our agency can be in our processes while still wisely investing in important things (like a strong technology infrastructure and a quality environment to retain quality representatives), the better we can serve clients and consumers.
As a Certified Receivables Business with Receivables Management Association International and a SOC 1 Type 2 certified business, our operations and data policies have been internally and externally audited for compliance and best practices. We utilize applied analytics and a centralized data management system to ensure processes and communications are streamlined and organized.
To learn more about the collections services P&B Capital Group, LLC provides, call us at 888-569-9635 or email firstname.lastname@example.org. Follow P&B Capital Group, LLC on LinkedIn and YouTube for additional updates and news.
About P&B Capital Group
P&B Capital Group, LLC is a nationally licensed, third-party collection agency that services non-performing accounts receivable and loan portfolios with compliance, transparency, and respect. We help consumers understand and resolve their financial obligations while providing improved cash flow for our creditor clients. P&B Capital Group is headquartered in West Seneca, NY.