Challenges in managing business operations of consumer loan companies
Specifically, the website, Facebook, and direct phone calls are the main tools used by the sales staff of consumer loan companies to reach customers. However, most small and medium-sized consumer finance companies often do not pay much attention to the quality of their marketing activities. As a result, despite investing a large budget in marketing campaigns, the quality and effectiveness do not meet expectations.
The professionalism of the advisory team, sales staff, and consumer loan support staff greatly impacts customer trust and their decision to borrow. Therefore, consumer finance companies need to manage and closely monitor the work process, as well as the interaction history of their staff with customers, in order to promptly address and adjust any arising issues.
Monitoring the payment progress of borrowers is always an essential task for consumer finance companies. However, not every company performs this task well. If a borrower faces financial difficulties or even becomes unable to repay, and the consumer loan company does not have an immediate solution, such as debt reduction, lowering interest rates, or proposing a new repayment plan, it will directly impact the company’s revenue and operations.
