Research on Outsourcing of Debt Recovery
Research Topic
Is Monetary gain, the only salient aspect of outsourcing the collection of receivables?
Research Problem
Pareto's Law ( “ The Pareto Principle”) is commonly known as the 80:20 rule. Typically in any organization:
• 20% of customers account for 80% of your turnover
• 20% of customers account for 80% of your profits
• 20% of customers account for 80% of your service and supply problems
It is important to know is which customers fit into which category and then to manage them accordingly.
Highly satisfied customers who perceive a high value in your products and services commonly make excellent advocates for your organization - nurture these customers and give the special treatment.
Dissatisfied customers who perceive a low value in your products and services are potential saboteurs. These customers could have little or no loyalty and may actively 'engage' against your organization. Therefore you should seek to rebuild relationships and trust, and a new basis for a future relationship, or manage the separation with dignity, professionalism and integrity. (http://www.businessballs.com/crmcustomerrelationshipmanagement.htm)
Accordingly, this will lead me to my research problem of “Outsourcing of collections effecting the customer relationship of Companies”
Objective of the Study To obtain the feedback of the customer, whose outstanding/dues are being subjected to collection by a Debt Collection Agency (DCA), in the manner it was handled by such agency. The feedback of Companies, who obtains the services of DCA regarding the impact it has on such outsourcing and the resulting effect it has on it’s clients. To analyze the manner of operation of such Debt Collection Agencies in Sri Lanka
Research Method
As my area of research is based on social science, I intend using the Inductive Method in my research.
Research Strategy
A purpose of a research study is descriptive, explanatory or exploratory. Exploratory study is the best
Is Monetary gain, the only salient aspect of outsourcing the collection of receivables?
Research Problem
Pareto's Law ( “ The Pareto Principle”) is commonly known as the 80:20 rule. Typically in any organization:
• 20% of customers account for 80% of your turnover
• 20% of customers account for 80% of your profits
• 20% of customers account for 80% of your service and supply problems
It is important to know is which customers fit into which category and then to manage them accordingly.
Highly satisfied customers who perceive a high value in your products and services commonly make excellent advocates for your organization - nurture these customers and give the special treatment.
Dissatisfied customers who perceive a low value in your products and services are potential saboteurs. These customers could have little or no loyalty and may actively 'engage' against your organization. Therefore you should seek to rebuild relationships and trust, and a new basis for a future relationship, or manage the separation with dignity, professionalism and integrity. (http://www.businessballs.com/crmcustomerrelationshipmanagement.htm)
Accordingly, this will lead me to my research problem of “Outsourcing of collections effecting the customer relationship of Companies”
Objective of the Study To obtain the feedback of the customer, whose outstanding/dues are being subjected to collection by a Debt Collection Agency (DCA), in the manner it was handled by such agency. The feedback of Companies, who obtains the services of DCA regarding the impact it has on such outsourcing and the resulting effect it has on it’s clients. To analyze the manner of operation of such Debt Collection Agencies in Sri Lanka
Research Method
As my area of research is based on social science, I intend using the Inductive Method in my research.
Research Strategy
A purpose of a research study is descriptive, explanatory or exploratory. Exploratory study is the best