CCR2 International Collections
One size fits all?
How can you ensure that you maintain the same standards across different regions and cultures?
Frank Horvath Managing director, Link Financial Outsourcing
FHorvath@linkfinancial.eu
One size fits all While the concept of establishing an international business with cookie-cutter operations in multiple jurisdictions may be an attractive one, in reality, businesses need to be more flexible about the products and services they offer, from region to region, to be successful. In the world of debt recovery, one example
is that different legal and compliance regimes mean following the spirit of TCF in the UK, while following the letter of the law in more codified countries. Then there are differing HR and cultural approaches which mean that, what is perfectly acceptable in one country, is completely verboten in another. So, against this divergent background, how
can a company establish a set of business standards which apply internationally?
Know your values and apply them You should ensure that the business is underpinned by a set of corporate values which accurately represent the company’s culture and ethics. Having those values fully embedded and promoted throughout the group will go a long way to ensuring multi-jurisdictional consistency and best practice, which will satisfy your staff, clients, customers and shareholders.
Recognise your strengths What are the major strengths in my business? Once you have answered this question, you
can decide which of those strengths you want to – and are able to – carry forward to your operations in other territories. Not all will be portable or appropriate, or the mix of skills needed to achieve them may differ by country. You may decide that your key strengths
include a particular system, your suite of management information, an operational process, a strategy that drives your business, the goals and measures you use to set and manage business performance, your unique management structure, or performance- management process for your agents. Once you have identified the key areas
you need to replicate internationally, the next step is to understand those which can be directly copied and those which have limited geographical transferability and will need greater creativity to reproduce. Try ranking the key strengths from most
important to least and then start with those which are the highest scoring. Review them critically, not just for the importance they bring to your business model, but also whether they are truly stand alone or only add value in combination with other factors.
Process makes perfect Look at your process flows and determine which elements of the process are not transferable due to their specificity to one particular market. Mark these on your process flows and discuss with colleagues in the local market to understand what competitors are
doing in these areas. Such differences may represent local legislative demands and limits, restrictions on contact methodologies and contact times or uncodified practice. The identification of cultural differences
that challenge an operation’s effectiveness can be identified from a number of sources. Firstly, and most importantly, local management should be trusted to add local value. They should know what is right and what will work in their territory. Similarly, feedback from customers passed on via agents and staff members, as well as complaints, should be used to drive changes to a standardised approach. Where debt is purchased from, or placed by, another institution, lessons from their original approach can be taken onboard. Finally, any local operation should join with local associations in their industry to learn from other professionals and businesses, as well as giving some of their own experiences to enrich the whole process. By following this approach, you can
develop the optimal operating model for each territory. Hence, the resultant operating model will maintain the best common factors, while being adapted to each local market and their relevant rules and regulations. Standards will ultimately be maintained
not through individual processes or strategies, but through the quality of management and controls used to drive performance and compliance in the business. CCR2
The Credit Experts LOAN SERVICING | STANDBY SERVICING | DEBT PURCHASE
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!"#$"%"&!% '() December 2017
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