Doubling Self-Service Payments: How Harris & Harris Improved Collections with SBT

Harris & Harris, a leading collections agency, grappled with high operational costs and ineffective traditional communication methods. Seeking a compliant and efficient way to engage with consumers, they partnered with SBT.

Specializing in debt recovery across healthcare, government, utilities, and more, Harris & Harris is committed to ethical practices and compliance. Their mission is to deliver efficient solutions for clients while maintaining respectful, effective communication with consumers.

Identified Barriers in Effective Communication

Low Yield Efforts

• Escalating Costs: Dependence on phone calls and direct mail was costly without delivering the desired return.
• Consumer Disconnect: Traditional methods failed to reach consumers, who are increasingly favoring digital communication platforms.

Compliance Complexity

• Vendor Instability: Previous texting vendors discontinued services due to the intricate compliance landscape in collections.
• Regulatory Risks: Navigating complex regulations made maintaining compliant communication channels challenging.

Consumer Engagement Obstacles

• Outdated Strategies: Existing approaches didn’t align with modern consumer preferences for quick, convenient interactions.
• Delayed Payments: Reliance on direct mail extended payment cycles, negatively impacting cash flow.

The Search for a Compliant, Effective Solution

To overcome their challenges, Harris & Harris sought a partner who could offer:

Expertise in Regulatory Compliance

Ensuring all communications met industry regulations.

Efficient Digital Channels

SMS and MMS solutions to engage consumers where they are most responsive.

Enhanced Consumer Experience

Simplified payment processes to encourage prompt, self-service payments.

Powerful Outcomes from Text-Based Engagement

Over 400% Return on Investment

Significant Financial Gains
Every dollar invested in texting communications yielded a 4x return.

Validation of Texting Channel
Demonstrated the effectiveness of compliant texting as a powerful revenue-generating tool.

45% Reduction in Non-FDCPA Debt Letters

Cost Efficiency
Dramatically cut expenses associated with traditional mailing.

Enhanced Consumer Alignment
Improved engagement rates by meeting the demand for digital communication.

Doubling Self-Service Payments

Increased Adoption
Self-service payments soared from 20% to over 40%, reflecting consumers’ preference for convenient, mobile-based options.

Improved Cash Flow
Accelerated payment receipt strengthened financial health.

Revenue Growth Without Additional Staffing

Operational Efficiency
Increased revenue streams without the need to hire additional staff.

Scalable Solutions
Demonstrated the ability to handle increased volume efficiently.

SMS Messaging

• Timely Payment Reminders: Quick, direct messages for upcoming payments.
• Instant Updates: Important information delivered straight to consumers’ phones.

MMS Messaging

• Branded Communications: Messages featuring the company logo to enhance credibility and trust-driving engagement.
• Detailed Information: Expanded character counts to provide key payment details.

SmartURL®

• Branded, Secure Links: Directing consumers to payment portals through recognizable links within messages.
• Simplified User Experience: Streamlined payment processes encouraging prompt action.

Harris & Harris transformed their collections process through partnering with SBT.

The integration of SMS, MMS, and SmartURL® not only enhanced consumer engagement, but also delivered substantial financial benefits.