Wescot Credit Services
Wescot Credit Services invests heavily in its personnel. They seek out the right skills from the very beginning, and help their people develop technical capabilities that maximize their ability to perform for clients to the greatest extent possible. The right attitude and skillset are exceedingly important in the debt collection industry, which can be challenging and detailed work. In addition to honing individual skills, Wescot prides itself on its scalable capacity. They have a virtual contact centre that spans across 3 sites in the UK. A strong team of project and programme managers develop appropriate projects for development, scaled to time and budget.
These structures have all allowed Wescot Credit Services to become not just an effective debt collection agency, but a good overall company in its own right. In the fiscal year ending 28 February 2012, they had a turnover of £32 million. Added to the fact that they are a debt-free company, they enjoy a strong trading position and have the capital necessary to maintain steady growth. This capacity for growth allowed Wescot to handle a large workload in the fiscal year spanning 2011 to 2012, accepting over 5 million new client instructions, issuing 16 million letters, handling over 6 million inbound calls, making over 10 million outbound calls, and collecting over £200 million in secured and unsecured debt for clients.
Wescot Credit Services is poised for even more exponential growth in the future. They recently implemented an operating platform with the potential to scale to 3 times their current size. This potential lets them expand their services in their five strategic areas to serve customers more effectively in terms of outsourced collections, tracing services and contingent debt collection.
With its 40 years of experience and upward potential, it is small wonder at the range of clients Wescot Credit Services has managed to attract. They dominate over 25% of the market share in debt collections, and their clients represent a wide variety of industries. Presently, Wescot serves all of the major banks in the UK, and other clients in fields such as banking and finance, telecoms and media, utilities, local government, and retail financial services.