Wescot has made a name for itself as a major player in the consumer credit sector. It has particular expertise in the areas of debt recovery, early stage debt recovery, customer tracing and debt purchase. The company is over 30 years old. From small beginnings in Scotland, Wescot has expanded to such an extent that the company now employs 650 people across three offices. Wescot has a client base made up of organisations from a number of different sectors. These include telecoms, banking, utilities, retail and local government.
This year, Wescot was the principal sponsor of the CCR Interactive conference and Credit Excellence Awards. This conference is the flagship annual event for the credit industry. Wescot was also one of the sponsors for 2013 Money Advice Scotland conference. This particular organisation is an umbrella group for the many companies and independent bodies that provide impartial and confidential debt advice across Scotland. The involvement of Wescot in the form of sponsorship demonstrates the commitment of the company to ensuring that individual customers receive useful advice and reach appropriate outcomes when reaching agreement over repayments.
At each of these conferences, the emphasis this year was on the changes and challenges the consumer credit industry will face in the near future. Wescot is well aware of these challenges and how they may affect its clients. Wescot has put considerable resources into ensuring that its business model is designed to meet the needs of clients. Equally as important, Wescot aims to ensure that its business practices are geared towards treating customers fairly.
An important part of the Wescot strategy for delivering the best possible service is the use of technology. This is especially the case in the field of data management. Wescot chose Experian, the worldwide information services company, to provide and manage its data. The aim of Wescot is to ensure that the data it has on each of the customers it deals with is as accurate as possible. For one thing, this improves efficiency. It ensures that Wescot employees are able to instantly access the very latest information about individual customers, so less time is wasted. It also ensures that outcomes can be reached based upon customer profiles and repayment histories that are as accurate as possible. This Experian contract is due to be extended shortly.