Customers who don’t pay their bills are Undesirables. Delinquent customers should be punished! You don’t want them in your portfolio. Right? … Maybe not quite. In 2017, Swisscom’s Billing and Collections Department hypothesized that they could get more customers to pay their bills (and rehabilitate them into loyal, paying customers). They were right: Within a year, they brought down collections-based contract cancellations by 15%, saving $2.3m – and that was just the start. But how did it happen?
We’ll tell the story of the revamp, including client-facing and employee-facing products that were developed. We’ll shed light on the behavioral economics of billing and collections and how it can be harnessed to steer and improve employee motivation. And, we’ll demonstrate this lesson’s relevance for PMs and companies who don’t worry about collections specifically.