Wescot Credit Services – Ongoing investment

In the year to February 2013, Wescot Credit Services Ltd returned over £240 million to the balance sheets of its clients. At any one time, they find themselves managing over £4.5 billion worth of performing assets on behalf of their clients, and this just goes to show why they are the UK’s top provider of receivables management services.

wescotTheir debt free status means they have sufficient capital on hand to best service their clients and exceed their expectations. In the year ending February 2012, Wescot realised a turnover of £32 million and so are in a strong trading position, which allows them to invest heavily in expanding and improving their services. For example, Wescot Credit Services Ltd have spent over £4 million in the last two years upgrading their IT infrastructure. This includes a new telephony environment, up scaled networks and an upgraded collections platform. Investment such as this shows the seriousness that Wescot Credit Services Ltd gives to improving the already exceptional service it gives to its clients.

Ongoing investment is also prevalent in its employees, who each have a bespoke development plan with clear and measurable objectives. Plans such as this form part of Wescot’s overall learning and development strategy. Individuals are able to enhance their knowledge and develop new skills to help them in their roles. The knock-on effect is that the business’s clients receive an improved service from motivated and skilled staff.

The CCR-Interactive and Credit Excellence Awards are a prestigious industry event held annually. This year’s ceremony will see Wescot Credit Services Ltd as the main sponsor, which is a decision that the event’s organisers believe will bring much kudos to the day. It is also an example of Wescot’s drive to promote their brand and further cement their position at the top of the industry.

Anyone who deals with Wescot Credit Services can rest assured that they endeavour to treat all customers fairly and adhere to the very strict regulatory guidelines that are in place within their industry. Adhering to these guidelines has been made a much more straightforward task by the partnership formed two years ago between Wescot and Experian. Global information services company Experian provide Wescot with accurate and complete data, which has allowed them to improve their collections performance. It also means that they are able to better understand a customer’s characteristics and provide the most suitable service possible.

Wescot Credit Services – Working closely with Swift Advance

Promoting learning and development within their company is something that Wescot Credit Services Ltd look to do at every opportunity. Every employee gets an agreed upon individual development plan, which contains a clear and concise set of objectives. Wescot Wescotlook to encourage career progression wherever possible and by obtaining new skills and knowledge, employees are able to shape their own futures. The firm have even implemented a policy whereby staff are able to request time off from work to undertake study activities. Policies such as this show that Wescot are actively investing in their employees’ futures and looking to improve the services they offer. It also ensures that their customers get dealt with by highly skilled and motivated individuals, which undoubtedly makes for a better experience.

As the UK’s leading provider of receivables management services, Wescot always ensure they are in the best possible situation to assist their clients. A partnership they created two years ago with Experian sees them benefiting from the provision of clear and accurate data. This is a vital aspect of their business and allows them to adhere to the strict compliance standards in their sector. Furthermore, it means that every customer Wescot deals with gets treated fairly because of the firm’s increased access to information concerning individuals and their unique situations. Solutions can be tailor made for customers so that their personal circumstances are taken into consideration.

Some of the country’s largest and most successful firms use Wescot for the management and recovery of their collections. Household names like Sky, British Gas, NPower, RBS and HSBC are just some of their clients and represent a wide range of sectors. In the year ending February 2013, they had managed over 300 million customer accounts and brought returns of more than £240 million to their clients’ balance sheets. Their unique debt free situation allows Wescot to invest significant capital to improve the services they offer and deal with even more customer accounts through increased capacity.

Debt recovery isn’t the only solution that Wescot provide for their clients and another important offering is their range of ‘locate’ products and services. A recent example of how this can be utilised can be seen in the exercise undertaken by Swift Advance in conjunction with Wescot. Swift needed to trace some 2,000 previous customers so that they could be issued with small refunds. They employed the services of Wescot Credit Services Ltd who were able to successfully find almost 80% of the required individuals. This is an outcome that swift had not envisaged and was way above their expectations.

Wescot Credit Services – Tried and tested

Wescot Credit Services Ltd are one of the most trusted solutions providers of debt collections and recovery in the UK. More than £4.5 billion worth of their clients’ performing assets are being managed by Wescot at any one time and over three million customer accounts were handled in the year to February 2013. The outcome of these accounts was the realisation for their clients’ of more than £240 million, which was subsequently returned to their balance sheets. Figures such as these show the effective products and services that Wescot provide and the benefits they bring to their clients.

Sometimes it is necessary for information to be verified and leads to be generated in the search for individuals. Wescot Credit Services Ltd have a great aptitude for carrying out this kind of work and one such successful exercise that they recently completed was for Swift Advances. Swift had to locate more than 2,000 of its previous customers who had already settled their accounts. They were due to receive a small refund but without accurate information, Swift would have been unable to contact them. Part of Wescot’s core services is their ‘locate’ function, which allows clients to verify customer information. After just two weeks, Wescot came back to Swift with a positive result on almost 80% of the individuals in question, which far exceeded what Swift thought would be possible.

Growing their brand is something that Wescot Credit Services Ltd actively seeks to achieve. Their sponsorship of this year’s CCR-Interactive and Credit Excellence Awards is a great opportunity for all involved. It shows the industry-leading reputation that Wescot enjoy and serves as an opportunity to raise further awareness of their brand. The firm also sponsors the Money Advice Scotland annual conference, which occurs every year and shows their continued dedication to industry events.

Wescot Credit Services Ltd do not let their vast amount of accounts blur their vision when it comes to treating customers fairly. They ensure that they always complwescoty with the various regulatory guidelines put in place and their two year old partnership with global information provider Experian has further strengthened this approach. It allows Wescot to utilise Experian’s extensive data resources and gain a better insight to their customers. By understanding an individual customer’s circumstances they are able to provide a more intimate service and bring more benefits as a result.

Wescot | CCR-Interactive Introduces New Sponsor

WescotCredit Collections and Risk (CCR) is one of the UK’s largest publications within the industry of debt recovery. Within the monthly magazine’s pages is a wealth of information regarding debt management techniques for both individuals and lending companies, as well as articles that relate to debt recovery itself. Given that the industry is currently facing an upheaval of regulations and difficult financial obstacles, CCR is providing up to date reporting as to what these implications might mean for their readership. In addition to their monthly publication, CCR also organise the UK’s biggest one day event, CCR-Interactive whereby debt recovery experts, companies and potential clients all meet once a year to discuss strategies and the industry in general. CCR-Interactive has announced a new sponsor for the event, Wescot Credit Services, a debt recovery company that has a long established history within the industry.

Speaking on behalf of CCR, Stephen Kiely who is the editor of the magazine has said that they are ‘delighted’ to welcome the debt recovery company to sponsor their main event, CCR-Interactive. Because the conference grows in size each year, it is ‘important [CCR] have the right kind of headline sponsor’, continues Stephen Kiely. The sponsor will be responsible for the event itself, CCR-Interactive which in the past has provided several benefits to those have attended. Some of which includes important information regarding significant aspects of operating a debt recovery company like best practices to continue increasing profits given the bleak economic outlook as well as how regulatory changes can affect some of the ways these businesses are run.

Sponsors of the CCR-Interactive event are also responsible for the Credit Excellence Awards, given by the magazine. The Credit Excellence Awards cover many different categories, from Best Newcomer, Collection, Compliance and Data Protection. These awards are prestigious achievements for any companies on either side of the debt recovery process and attract large and modest businesses from around the world. Because of the attraction of the awards, this gives companies ample opportunity to open up new relationships with businesses they would not normally come into contact with.

Finally, there is a dinner hosted by CCR and their sponsors, Wescot. As well as views from the hotel function room that overlook Tower Bridge, a full dinner provided by CCR and Wescot, there was a charity auction with prizes provided by many of the companies in attendance.