Collections Connect Rate
This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring Collections Connect Rate. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Collections Connect Rate?
The number of outbound dials that are connected to a valid phone number divided by the total number of outbound dials attempted over the same period of time, as a percentage. A "valid" outbound dial (i.e., a "connect") includes calls that are connected to a phone number that is in service.
Why should Collections Connect Rate be measured?
Collections Connect Rate measures the number of outbound dials that are connected to a valid phone number in relation to the total number of outbound dials attempted over the same period of time. Low value for this metric can be related to a number of factors, including inefficient customer tracking and management practices (i.e., tracking of customer communications and contact information), poor initial lead generation and research processes, little communication with the departments/employees/creditors that originally dealt with the customers before their accounts were handed to collections, and sub-par collections employee training and performance. Excessively low values for this metric can, furthermore, increase overall charge-off rates (i.e., a write off expressing that the money owed is unlikely to be collected) and expose the company to financial risks by preventing on-time payment of liabilities.
Download a Sample Collections Connect Rate
Frequently Asked Questions
Q: How do you collect and validate your data?
A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years conducting original research and anonymizing data from our engagements with top companies around the world. Every single data point we collect is scrutinized by our analysts to conform to established baselines and our rigorous in-house validation process. We won’t serve it up to you unless it meets our tough standards for utility and value.
Q: How much information will my Benchmarking Report contain?
A: Enough to produce a useful benchmark. And rest assured that it’s all current, validated, and useful. We only include data that’s been collected in the last five years. And while sample sizes vary by KPI, the average is 25, and the high end can surpass 1,000.
Q: How often do you update your reports?
A: Every year. We’re constantly gathering, scouring, and processing new data. We update our reports based on trends our analysts detect in the data, as well as the demand from our consulting clients and customers like you.
Q: Your download-able reports look great. But I need something custom. Can you help?
A: Heck yes. Our crack research teams just love custom assignments, and would be delighted to perform targeted research tailored to your specific requirements. Find out just how fast and affordable this is: Email us (email@example.com) or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.