An interview with Dimitar Bonchev, CEO of Debt Collection Agency JSC, for the latest issue of prestigious ranking K100: The biggest companies in Bulgaria by Capital.
What does successful debt management depend on?
Acquiring and managing non-performing loans is a complex and challenging business. For almost 10 years on the Bulgarian market, Debt Collection Agency JSC (DCA) has proven to be a stable partner of banking and non-banking financial institutions, telecoms, utility providers. I don’t know if there is a formula for success, but I share the one we know in DCA – high level of expertise, experienced team, excellent software, adaptable work strategies, compliance with legal and regulatory norms and, of course, a lot of innovation.
What innovative approaches and technologies facilitating your business do you apply? What is the effect on the company and its customers?
For the companies, part of B2Holding, the last year has passed under the sign of digital transformation. In the markets where the Holding operates, the pace is different, but we, here in Bulgaria, are proud to have successfully closed a number of projects. One of our strategic goals is to automate a significant part of business processes, which are often repetitive and consume large resources. The implementation of technological solutions will help us improve the quality and speed of work, reduce the possibility of errors, as well as improve the overall monitoring within the company.
DCA is the first and currently the only company in the sector that has an online platform for customers and the ability to pay debts through it. What are the pros and the results of implementing this digital solution?
Yes, that is right. We have created and constantly develop a platform for communication and virtual customer service, including self-service. Imagine something like online banking, but with a focus on relationships with our customers. The platform allows for inquiries on obligations, easy and fast payment 24/7. In recent months, it is proof that we are prepared to meet not only the needs of our customers, but also the challenges of the times we live in. In the days of isolation, we saw a significant increase in the number of new registrations and payments made, which allowed us to keep up the pace of our operations and our clients – to make payments and learn about their obligations from the safety of their homes. It is no coincidence that in this platform we chose to integrate the process of applying for rescheduling and deferral of installments for everyone affected by COVID-19, which was our social response to the situation.
What projects are you working on, what is their goal and what are the expected results?
We are working on several very interesting projects and I think we will, again, be among the first to present such innovations in the sector. I will give an example with the introduction of Voice Analytics technology, which converts conversations into text and analyzes them based on pre-set criteria. This will not only allow for 100% monitoring of all communication in our call center, which is related to the raising importance of compliance, but will also bring to the forefront good service practices, as well as alert us on a much earlier stage for complex cases or trends in consumer behavior.