Zenarate | Holly Kerns AI Coaching for Agents | Receivables Roundtable Ep. 76

Introduction

In today's episode of Receivables Roundtable, host Adam Parks sits down with Holly Kerns-Gennard from Zenarate to discuss the innovative application of AI technology in agent training within the receivables management industry. Zenarate is pioneering the use of AI to enhance the training and ongoing support for collection agents, making them more effective and confident in their roles.

Holly begins by sharing her background. Graduating during the economic downturn in 2008, she entered the sales field with the Pepsi Bottling Group. However, she quickly transitioned into the collections industry, starting with Collect America, which later became SquareTwo Financial, where she managed both sales and operations. After a brief hiatus, Holly joined Zenarate in 2019, where she found her true passion in using AI to facilitate agent training.

Zenarate focuses on creating a human-centered AI platform, providing an AI coach designed to help customer-facing teams develop into top performers. Holly likens this approach to flight simulations for pilots, arguing that just as pilots train in simulators, collection agents should practice calling techniques in a controlled environment. This not only alleviates anxiety but also allows agents to customize their approach during live interactions.

While Zenarate primarily collaborates with creditors, Holly emphasizes that the experiences of agents and the core elements of the job remain consistent whether in first-party or third-party collections. The major differentiator comes from the ability to retain employees and ensure they feel included and supported within the organization.

AI coaching is integrated flexibly into both the initial training of new hires and as a tool for ongoing improvement for tenured agents. The system provides on-the-spot feedback based on agents’ real-time interactions with the AI, aiding their development in crucial areas such as negotiation and compliance.

One unique advantage of Zenarate’s AI coaching platform is its low technical requirements. Organizations only need to grant access to specific URLs, and no personal information is required, making implementation simple. This simplicity opens the door for teams across different departments—operations, training, and quality assurance—to come together to create customized training.

Holly also highlights results from existing deployments: an impressive reduction in attrition rates by up to 32% and up to 56% faster speed to proficiency for agents. Newly trained agents can achieve performance levels comparable to more experienced colleagues in just weeks.

In conclusion, it is evident that Zenarate's AI coaching platform is making a significant impact on the training and performance of agents in the receivables management industry. By improving agent skills and comfort, organizations are better positioned for success.

Keywords

• Zenarate
• AI coaching
• training
• collection agents
• employee retention
• first-party collections
• third-party collections
• negotiation skills
• compliance
• performance improvement

FAQ

What is Zenarate?
Zenarate is a technology company focused on human-centered AI that enhances training for customer-facing teams, specifically in the collections sector.

How does Zenarate's AI coaching work?
The AI coach provides interactive simulations for collection agents, offering real-time feedback on their performance to improve skills, especially in negotiation and compliance.

What are the benefits of using Zenarate's AI coaching in training?
Benefits include reduced attrition rates, faster speed to proficiency for new agents, and increased overall confidence and performance among agents.

What departments need to be involved when implementing Zenarate?
Key departments include training, operations, and quality assurance, ensuring all voices are heard in the training process.

How complex is the implementation of Zenarate’s system for organizations?
The implementation is straightforward and does not require extensive IT resources—only an allowance of certain URLs and access to a Chrome browser and headset is necessary.