Want better results? Get your debtor management team in the game!

No matter their age, people are programmed to play games. We all have experiences of bonding with our friends over some or other game, and we all have a favourite game. When we were kids, games even formed one of the most important parts of our education. Through playing games we were taught useful skills and life lessons.??

But here’s the thing – as adults, we never lost that ability to learn and become better through games. We didn’t even lose our love of playing them. So, when I think about how to change something as important as school debtor management and collections for the better, I keep returning to one question – why not turn it into a game????

After all, debtor management teams probably have the most stressful and thankless job of all. On top of collecting outstanding school fees, they also manage the internal processes and risks associated with non-paying accounts. I would argue that this not only requires individuals who are great at teamwork, but also ones who are creative and confident enough to bring new and innovative solutions to the table.??

Unfortunately, we don’t really see those traits coming through in our industry as much as we should. Most teams are still using the same old outdated solutions (like sending SMS and email notifications for overdue accounts and assisting with legal notices) (Mainly concentrated on an age analysis). As a result, collections success rates rarely improve and the motivation to evolve is missing.??

Why not motivate collection teams to take the strong actions that lead to actual increases collection success rates, by turning it into a game? After all, a study published late in last year found that gamification is a great tool for achieving exactly what we are looking for in this industry. In particular, it noted that gamification taps into our intrinsic motivations for competition, accomplishment, and recognition – the building blocks of an unstoppable team.??

However, what I am proposing goes far beyond gamifying collections for individual teams. I believe we should become a gaming community, where teams across different regions and settings can learn from one another. Then you won’t just be creating unstoppable teams; you’ll be building an industry that is so much more dynamic and driven by innovation.???

As a matter of fact, I am proud to say that our team at Jumping Fox Software are already doing our part to make this a reality. We have introduced a new solution that uses gamification to assist schools to implement efficient collection strategies and processes, maintain healthy cash flow, and boost collection rates. All of this while fostering a supportive community among school debtor management teams who enjoy their work.??

We’ll also get to learn from the teams that we work with. Whenever teams in our community discover new methods or strategies that make collections easier, they can share their discoveries.??

We are looking forward to adding more teams to our community. But in the meantime, there are some ways in which you can gamify your own team to maximise their skills:??

? Put a robust collection strategy into action for efficient collection, while also ensuring the enrolment form and financial policy are well drafted.??

? Employ trained staff who understand basic accounting principles, know the Schools Act's requirements when dealing with outstanding school fees, and have good profiling skills.??

? Use tools to automate repetitive tasks and enable a focus on strong collection actions.??

? Surround the debtor management team with innovative partners to assist them in finding the best methods for higher collection rates.??

The world is evolving, and if teams in the school debtor management environment want to stay relevant, they need to step up their game.??

?If you want to get your school debtor management team in the game - contact us today.