Wescot | Learning and Development Culture

Wescot, the UK’s biggest debt recovery company, is keen to promote the strong learning and training culture that exists within the company. Everybody from the managers, to the learning and development team themselves, right to the freshest employees are encouraged to further improve their abilities and skills. This means that for a customer driven company like Wescot, everybody that works for the company is able to deliver the high standard of customer service that is expected from them.wescot

The learning and development programmes developed by Mike Rustill and his team are engineered to motivate the employees at Wescot to give the best customer service that they can. Client satisfaction is of the utmost importance at Wescot and it is seen to it that everybody that works at the company shares that philosophy. The learning and development team hold regular reviews of every member of staff, so that their strengths and weaknesses can be highlighted. In the case of further training being required, the reviews will go a long way to informing the learning and development team which areas an employee might need extra education. With an extensive training process, clients of Wescot can expect that no matter who they talk to, they will be left encouraged by the friendly and knowledgeable staff who work at the company.

To exhibit just how much learning and development is part of Wescot, the company is keen to embrace the legislation that came into force on the 6th April 2010. Employees were given the right to take time off work for study or training as of that date, and Wescot put a lot of effort into making sure their employees are aware of this. Whether the training is done through Wescot, or the individual has secured further training outside of the business, then the learning and development team are happy to oblige them with the time off. The only proviso of taking this time off is that employees have to prove that by undertaking this training they will actively improve their ability to work for Wescot.

The learning and development culture is paramount for the success of Wescot, managers are fully aware of the progress of employees and acknowledge the fact that through development, the business can continue to succeed.

Wescot | CCR’s Latest Big Name Sponsor

CCR, or Credits Collections and Risk magazine is the UK’s most read publication regarding the credit industry. Since 2008 and the dawn of the recession, credit and debt have been hotly debated subjects throughout the media. CCR has regularly reported every month on the changes made to the industry as it goes through an extended period of upheaval. The magazine presents information to not just the credit industry but to customers as well, acknowledging any queries that they might have with regards to debt and how to manage it. Each year, CCR also presents a one day conference, entitled CCR-Interactive and many large names in credit make an appearance to network and expand their client base.

With the success of the CCR-Interactive event growing each year, then it has been important for CCR to secure funding from outside sources. They recently announced a new sponsor of the event to be Wescot, the largest debt recovery company in Britain. Based in Glasgow, Hull and Saltcoats the debt management agency employs over 650 people who annually process 5 million different accounts. It is hoped by the organisers of CCR-Interactive that the company’s involvement will provide them with two things, firstly the means to host such an important event, but also the prestige of Wescot will no doubt attract even more people to attend CCR-Interactive.

At the event, attendees can expect amongst other things a brilliant opportunity to socialise and network. The CCR-Interactive attracts many different businesses and some of which would not ordinarily correspond in such a neutral and positive environment. Indwescotividuals, not affiliated with a company will enjoy being able to approach many different businesses in one go, getting a frank view of what each company could offer them.

To end the day, CCR and their sponsor will host a dinner and awards ceremony. The CCR awards are some of the highest accolades that any company in the credit industry can hope to achieve and they are attended by hundreds of people. This is the perfect place for a customer driven company like Wescot to showcase their capabilities as a sponsor and highlight the company’s strengths in general.

Wescot | Learning Objectives that Focus on Customer Service

There is a changing environment within the debt recovery industry, there is the obvious pressure that given the current economic climate, people have less and less money to spend. For debt recovery companies such as Wescot, this means that it takes relatively more time to recover debt for a client as customers are slower to repay. Factor in to this the fact that the industry has been placed under new guidelines from the Financial Conduct Authority who are demanding stricter rules for complaints management amongst other things, then Wescot and other debt recovery agencies have had to redevelop their operating procedures. This ultimately will result in retraining current staff and altering the training that new staff receive when they join Wescot.

Wescot are one of the largest debt recovery companies in the UK, with 650 employees who work in one of three locations, either Glasgow, Hull or Saltcoats in Western Scotland. Together the company processes 5 million individual debts and in order to change the running of a business as large as Wescot, their learning and development department has had to work hard in order to fall in line with the new regulations. One of the most important things that Wescot’s learning and development team has had to do is notify current and future clients of what the debt recovery company can actually achieve under the new laws. This has required the retraining of staff at Wescot, to uphold the company policy of focussing on the customers and clients of the company.

wescotThe learning and development team at Wescot have many combined years of experience in training employees. Mike Rustill alone has had twenty years in the business, including leading the training department at mobile phone giants, O2 and he brings his expertise and high skill level within learning and development. He has a proven track record at previous roles, not just at Wescot, at being able to perform at a senior operating level. In addition to Mike Rustill, the learning and development team of Wescot also contains Elaine MacDonald, a woman who has seven years in the financial industry, and after joining Wescot in 2003 as a collections agent, Elaine has been promoting to a senior role in the department. These are just a couple of examples of the highly skilled people that operate the learning and development team at Wescot, proving to customers that the training will in fact be effective in updating Wescot’s workforce.

Wescot | Debt Recovery Agency Implements Successful Learning and Development

Training and continued development of employees is one of the key aspects to running a successful business, training encourages two things, first of which is that it makes employees feel more valued by their employer. Secondly, because employees feel more engaged, they are then more likely to commit greater effort to the business buoyed by the recent development. Wescot is a debt wescotrecovery agency from the UK, that have recognised the need for continued development of their staff, not least because of the extraneous pressures placed on the company to update its processes.

While Wescot have already employed a successful team within the learning and development department, to further train their employees in responsible debt recovery and customer relations, they have had to recently update their operating procedures. This has involved changing the training that Wescot staff receive to fall in line with the new laws set out by the Financial Conduct Authority.

Wescot is one of the largest debt recovery companies in the UK, 5 million individual debts are processed through the company’s 650 employees. Because of the high level of operation that Wescot currently performs at, it is important that the company not only retains a high level of training, but they ensure that the training they give to employees will allow them to work with the FCA’s permission. In a large company such as Wescot, it would be easy for employees to slip under the radar and not receive further training. Such is the high quality of the learning and development department at Wescot that this is not the case, it is important for the continued success of the company that their employees feel motivated and engaged enough to do their jobs to the required standard.

In order to cover all the bases, Wescot continually review their agents and their performances are assessed. The learning and development department will then look at the areas that the employees need to work on and develop the training programmes to suit. In addition to helping engage their employees, Wescot are transparent when it comes to what the management team expect of their colleagues when they turn up to work. The management team also take an active role in developing those who are underperforming, being an integral part in Wescot’s learning and development systems

Wescot Credit Services – Proud Sponsors

For more than 40 years, Wescot have been providing vital products and services in the industry of receivables management in the UK and now find themselves at the very top of their field. They were set-up as a partnership originally in the 1970s, but became a private limited company in 1983 and Wescot Credit Services Ltd came to exist.

Local government, utilities, retail finance services telecoms and media and banking and finance are all sectors that Wescot provide services to clients in. More than 50 of the country’s best recognised and most successful companies, including Sky, HSBC, RBS and British Gas to name but a few, are currently benefitting from the range of products and services that Wescot Credit Services Ltd offer.

Proud sponsors of this year’s CCR-Interactive and Credit Excellence Awards, Wescot are further raising their profile within the industry and the event’s organisers believe that their support will add real kudos to the day. Wescot are not strangers to sponsoring such prestigious events however, as their annual involvement with the Money Advice Scotland Annual Conference shows.

The fact that Wescot Credit Services Ltd have no debts means they find themselves in a strong trading position. The £32 million turnover they generated in the year ending February 2012 is proof of their financial stability and sees them in an excellent position to best support their customers. This is because they are able to exceed their clients’ ongoing requirements with the sufficient capital they possess. In the last 2 years, Wescot have undertaken a significant investment programme and upgraded much of their information technology infrastructure. This allows them to provide an even better service to their clients and they now have the potential to upscale their current size by three times.

Their people are another aspect of their business that Wescot look to invest in. Their comprehensive learning and development programme means that employees are given a bespoke development plan, which looks to enhance their skills and improve career progression opporwescottunities. One example of Wescot Credit Services Ltd’s commitment to their employees can be seen in their ‘time off work for study’ policy. This allows individuals to request time off from their working week to undertake study activities relating to courses relevant to their jobs. The company’s clients ultimately benefits too, as the people they are liaising with at Wescot are skilled and motivated, which allows them to provide the best possible service.

Wescot Credit Services – Swift Advances

Wescot Credit Services Ltd are able to provide first class solutions for their clients and often exceed all expectations. A great example of this was the project twescothey carried out for Swift Advances to locate a number of the company’s former customers. Swift had given Wescot the task of tracing more than 2,000 customers who had already paid off their loans and were due to receive a small refund. The conclusion of the exercise saw the successful location of nearly 80% of the individuals concerned, which far exceeded the expectation that Swift Advances had at the start of the project. ‘Locate’ is just one of the many core services that Wescot Credit Services Ltd provide for their clients.

The early 1970s is when Wescot first came on the scene as a debt collections solutions provider. Initially a partnership, the firm was developed into a private limited company in 1983 and the Wescot Credit Services Ltd that is known today was formed. At present, they provide services for a broad range of clients across a number of various sectors. At any one time, they are managing over £4.5 billion worth of performing assets on behalf of their clients and in the year ending February 2013, they dealt with more than 3 million customer accounts. The result of these dealings was the return of over £240 million to the balance sheets of their clients. This is just one of the many reasons why Wescot find themselves as the leading provider of receivables management services in the UK.

To further enhance their reputation and brand awareness, Wescot Credit Services Ltd will be the main sponsors at this year’s CCR-Interactive and Credit Excellence Awards. This is a highly respected event in the industry calendar and its agenda always brings together high calibre speakers and delegates. This is just one reason why Wescot are happy to associate their name with the conference.

Experian are a global information services company who provide clear and accurate data to other businesses and individuals. Wescot Credit Services Ltd signed a deal with Experian two years ago which enabled them to benefit from this vast provision of information. This allows them to gain a better understanding of their customers’ situations and tailor services to suit their needs. It also means that Wescot are in a better position to adhere to the strict regulatory guidelines in the industry and as a result all their customers get treated fairly.

Wescot Credit Services – Experian

Wescot Credit Services Ltd have been providing a range of receivables management services and products for over 40 years. They were originally set-up under the name Wescot, but in 1983 they were incorporated into a private limited company and the business that is known today began to exist. At present, they provide services for a broad range of clients, across a number of different sectors, including telecoms and media, utilities, retail finance services and banking and finance. Some of the large firms who employ their services include SKY, NPower, HSBC, Barclays and RBS.

Wescot’s prominent status can be seen in the fact they are acting as the main sponsor for this year’s CCR-Interactive and Credit Excellence Awards. This is a great opportunity for Wescot Credit Services Ltd to enhance their reputation and being associated with such a prestigious event in their industry will undoubtedly have a positive effect on their business. The organisers of the event have stated that Wescot’s influence will bring extra kudos to the day.

Customers who are dealt with by Wescot on behalf of their clients can expect to receive an excellent and more importantly fair service from the company. Wescot have to adhere to strict industry guidelines, which are in place to regulate their dealings with customers. A deal that Wescot struck with Experian two years ago means they are in a much better position to understand their customers’ situations and circumstances. This is because they have access to vast amounts of accurate and clear data from Experian to assist them with their work. This allows them to tailor their services to better suit the needs of the customer and a fairer approach is adopted to the collection of debts.

wescotWescot Credit Services Ltd are specialists at what they do and often exceed the expectations of their clients. One example of this can be seen in a project they carried out for Swift Advances. The goal was to locate more than 2,000 previous Swift customers who had already repaid their loans. The individuals involved were due to receive a small refund and therefore Swift wanted to track them down. Wescot, using their core range of ‘locate’ products and services, were able to successfully trace almost 80% of the past Swift customers. This far exceeded the expectations of Swift, who concluded the exercise as successful.

Wescot Credit Services – Brief History

The early 1970s was when Wescot was initially formed, and it was originally established as a partnership. In 1983, it was incorporated as a private limited company and Wescot Credit Services Ltd was born. The company operate throughout the UK anwescotd over the last 40 years have established themselves as the number one provider of receivables management services in the country.

Wescot Credit Services Ltd have a wide range of clients across a variety of sectors, including utilities, local government, retail finance services, banking and finance and telecoms and media. Over 50 of the biggest and most successful companies in the UK benefit from the products and services they offer.

Wescot Credit Services Ltd are a debt free company and see themselves in a strong trading position, with a turnover in the financial year ending February 2012 of £32 million. This means that they have sufficient capital to allow them to meet and exceed their clients’ ongoing needs. This makes them the obvious choice for customers who want a first class service.

Wescot Credit Services Ltd believes strongly in developing their people, which is why they have implemented a thorough learning and development programme for employees. This allows their staff to develop new skills and improve their chances of career progression. This in turn ensures that the firm’s clients are receiving the best service possible from knowledgeable and motivated individuals.

An excellent example of how Wescot Credit Services Ltd are able to provide real value to their clients can be seen in the work they recently carried out with Swift Advances. The exercise was to trace over 2,000 Swift customers who had already repaid their loans to the company. These customers were all due to receive a small refund and using its core ‘Locate’ range of services, Wescot were able to successfully trace almost 80% of the individuals. This far exceeded Swift’s expectations and the exercise was deemed very successful.

Wescot Credit Services Ltd are very proud to be the main sponsors at this year’s CCR-Interactive and Credit Excellence Awards. This is a prestigious event and further raises their profile within the industry. Furthermore, the deal that Wescot signed with global information services company Experian two years ago means they are in a fantastic position to deliver an even better service to their clients. The partnership between the two firms will help Wescot to adhere to strict regulatory guidelines, which further ensures that their customers get treated fairly.

Wescot | New User of Experian’s ExPin System

Experian is one of the world’s largest credit information databases and forms the basis of many credit checks whenever a member of the public comes to secure credit of any variety. Based in Dublin, Experian has operational headquarters in Nottingham, in California and in Sao Paulo in Brazil. From there they employ 17000 peoplwescote who compile thousands of lists of data with regards to how much money individuals owe, to whom and how much more they can afford to borrow. Experian has recently developed a new system, entitled ExPin, with the objective of assisting third part companies in making the decision as to whether to lend more money or not.

ExPin works by compiling data from Experian’s already considerable database, but with a focus on only the customers of the client. The ExPin service will name all the products and services that the customer is already paying for and pass this information on to the Experian client. This information will then prove invaluable for the client, as they can learn all they need to know about a customer to form the basis of a credit decision. ExPin is constantly updated; ensuring that it stays as relevant as possible and each client can quickly access the correct information at the time of access. Clients of Experian will then benefit from greater confidence that the information they receive is as accurate as possible. ExPin will take a lot of hassle out of credit decisions by providing quantitative data for the client.

Experian are also then able to offer further services to their clients who use ExPin, as their needs will be processed by ExPin and returned to the business services team at Experian. All the while, clients will be able to remain ahead of their competitors by using the most relevant information possible.

In a recent move, Wescot Credit Services, a debt recovery agency based in Glasgow and across the UK has signed up to Experian’s ExPin service. This multi million pound decision has proved invaluable to the debt collection company, as they have been able to access information on customers quickly and assess how much they are actually able to pay back. ExPin has already improved Wescot’s debt recovery speed and this translates to stronger relations to their client base as their costs are reduced.

Wescot Credit Services | New Letters Management for Debt Collection Efficiency

Adare Limited is a company who provide expert data management and communications solutions to benefit any kind of business. Using the systems devised by Adare can actively contribute to reducing the costs of using traditional mail, in particular for those companies that regularly handle large volumes of post. Adhering to the Data Protection Act (1998) with the utmost diligence, Adare specialise in transactional mail, security print and direct mail solutions. The company owns an in-house production unit, cutting out any middle men in the process and thus reducing costs to their clients, as well as speeding up any mail processes.

WescotIn addition to their mail systems, Adare also offer a letters management program, called SmartEdit. SmartEdit works by allowing customers to review and edit existing documents quickly, a vital development as this again speeds up the process of getting the mail out to the recipient. SmartEdit is particularly useful to companies that regularly send out large volumes of letters that contain the same basic information, but require subtle changes to the address, recipient’s name etc. to make the mail seem more personal. By allowing the customer’s employees to quickly change stock letter formats, SmartEdit can dramatically improve the efficiency of a mail campaign.

One of the more recent customers of Adare Limited is Wescot Credit Services, one of the UK’s largest debt recovery agencies who annually process around 5 million clients. With an operation so large, it is important for the debt recovery company to process each client as quickly as possible and so they have taken to using Adare’s Letters Management System, because of how easy it is to change the specific details on a stock letter. Wescot can use the SmartEdit program to change details such as names, amount owed and due date quickly, increasing the efficiency of each debt recovery campaign and this translates to a lower cost and better customer service satisfaction for their clients.

Adare Limited are committed to reducing the costs to each of their clients when they embark upon a large mailing campaign and through useful systems such as SmartEdit, they are able to do this, giving them an edge on the competition. SmartEdit has helped not just Wescot Credit Services, but many other clients speed up the time it takes to send out their correspondence.