Skit.ai, the leading Conversational Voice AI solution provider in the Account Receivable Management (A.R.M) industry, announces a strategic alliance with Delaware based, American Finance L.L.C, a prominent lending company specializing in the automotive industry. The company was one of the early adopters of Voice AI in the ARM industry. This partnership aims to automate their outbound calls and accelerate revenue recovery efforts by scaling collections efficiency and rates.
American Finance L.L.C like many collection agencies, faced challenges such as escalating costs and bottlenecks arising from skilled agent scarcity. Skit.ai’s compliant, configurable, and easy-to-deploy Augmented Voice Intelligent Platform emerged as an ideal fit, offering end-to-end automation at a quarter of the cost and solving agent scarcity challenges with scalable outbound collection campaigns. The implementation of such a robust platform enabled American Finance to get the right person at the right time and with the right message, achieving an impressive collection rate of 13.5% and an engagement rate of 38%.
Talking about the partnership, Dean Stibbs, Director of Information Technology at American Finance L.L.C., stated, “We chose Skit.ai for its robust technology and understanding of the debt collections space, and we were equally impressed with how responsive and easy to work with the team was. Skit.ai’s Voice AI solution performs as well as our average collector on the floor. We’ve been telling our peers in the industry that Skit.ai is one of the best ideas we’ve implemented at American Finance to date.”
Skit.ai’s partnership with American Finance marks the beginning of a new era in the ARM industry, a period that will be marked by the rise of Conversational Voice AI, capable of end-to-end call automation, a rise in collection efficiencies, and a marked reduction in agent dependencies. The rise in collections, payment rates, and cost-efficiency clearly make Skit.ai’s partnership with American Finance a perfect example of how ARM companies can use Voice AI technology to transform collections.
“American Finance was the first to adopt our platform in the ARM industry. We have broken many barriers like 57% of Card-on-file payments and frequent repeat payments at one-fourth of the prior call cost. We are just getting started and expect further improvements in the coming months,” stated Sourabh Gupta, Founder, and CEO of Skit.ai
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