Given the current situation, how would you reduce our GCL?

Question

Accepted Answer

To reduce GCL, I would implement targeted strategies focusing on communication, payment plans, and customer engagement.

Enhance communication with clients to understand their payment challenges and offer tailored solutions.
Implement flexible payment plans that accommodate clients' financial situations, such as installment options.
Utilize data analytics to identify high-risk accounts and prioritize follow-ups to encourage timely payments.
Train the collection team on effective negotiation techniques to improve recovery rates while maintaining positive client relationships.
Regularly review and adjust collection strategies based on performance metrics to ensure continuous improvement.

Accepted Answer

I had a colleague who always wanted things done his way, invariably getting into confrontations with many co-workers. I had to team up with him on a month-long social media campaign to develop creative post ideas and strategically schedule them for maximum reach and engagement. I was tactful and kept my cool throughout. When we disagreed, I heard him out. If I still believed that my idea was better, I supported it with enough data and proven theories to convince him. Ultimately, the campaign was a success and my colleague came to respect me greatly.'

Asked in IDFC FIRST Bank

Given the current situation, how would you reduce our GCL?

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