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 Credit Services | New Sponsor for Money Advice Scotland Conference

WescotMoney Advice Scotland is an independent charity that focuses on relieving people across Scotland of the burden that worrying about debt can bring. They offer free, impartial advice on all aspects of money problems in particular advice on how to handle personal debt. The charity has been around in one form or another since 1989 and is now one of the largest charities of its kind, with a reach that extends beyond Scotland. Each year, the management team at Money Advice Scotland provide a conference whereby consumers, clients and debt collection agencies can congregate and they provide valuable information for all parties.

While a large portion of the charity’s funding is provided by the Scottish government, and the national Money Advice Trust, the charity does benefit from events such as their conferences and other services. Their latest sponsor is Wescot Credit Services, which is one of the largest debt recovery companies in the UK, employing 650 people at locations in Glasgow, Hull and Saltcoats. The company processes 5 million clients each year, firmly placing it as one of the market leaders. For Wescot to be sponsoring the Money Advice Scotland conference, it is going to attract large numbers of attendees as well as funding the charity in its aims to help those with financial issues.

The conference that Money Advice Scotland provides is a tour de force of seminars and workshops that focus on key aspects in the financial sector. As well as the many set pieces that have been organised by workers at Money Advice Scotland, there is ample opportunity for businesses to network with other operators within the industry, many of which they might not come across outside of the conference. On the first day of the conference, Money Advice Scotland provide two workshops sessions that attendees can learn about bankruptcy and its implications, from both the perspective of the lender and the borrower, as well as advice on regulation and welfare reform. The first day finishes with a large dinner hosted by Money Advice Scotland and then a charity auction. The second day of the conference is slightly shorter, with more networking opportunities but only one workshop session that focuses on different issues than those on the first day, ensuring there is something for everyone.