Enhanced Collection Module
In addition to the invaluable functions
built into our Collection Module, our Enhanced Collections Module
has some great tools that will assist you with evaluating your collection
staff’s performance. Additionally,
accounts can be easily directed to the appropriate departments within your
organization that deal with issues such as Bankruptcies, Chapter 7 & 13
reviews, or repossessions. Here’s
how it works: Each day processing “queue” files are
created by gathering delinquent customer account information together
based on the number of days they are delinquent.
If an account is 1 to 5 days delinquent it is placed in a “queue”
file with other accounts that are also 1 to 5 days delinquent.
Accounts that are 6 to 10 days delinquent are placed in another
“queue” file. Once all the
delinquent accounts have been placed in a “queue” file a report is generated
detailing the groups of Collection Queues created.
This report lists each “queue” file created, it’s description, and
the number of accounts included within each “queue” file. This report, called the Collection Queue
Processing Report, is then used to assign these “queue” files to
specific collection personnel. For
example, you may decide to give the 90 days or more delinquent queue to one of
your more seasoned collection personnel and the 1 to 5 days delinquent to a
newer person. Each collector then uses their “queue”
file to start collection work for the day.
They will begin by going to the main Collection Module screen
where they will enter the “queue” filename provided.
Each account will be brought up beginning with the highest book value
displaying the information necessary to make contact with that customer. The collector is then asked to answer a
series of questions regarding the initial contact of the customer.
They can note if they spoke to/contacted the customer, left a
message, got a disconnect, no answer, and so on. An option also exists to take an “action”.
An action may be to assign this account to the repossession staff or to a
manager for further review. The
collector can make that decision immediately. Once the call is finished the collector
will be asked for a final result of the call.
They can note a promise to pay or that the account needs to
be marked for resolution. Additional
text can be added to further explain any specific details of that particular
call. At that same time they can set a
“tickler” date noting when, for example, a promise to pay is to happen.
Until that tickler date is reached the account will fall out of the daily
“queue” files. Once the tickler
date has passed the account will again be placed in the collector’s
“queue” file for contact. Once the collector has finished with an
account it is marked as “worked” and the next account is displayed.
If the collector leaves the program/process at anytime during the day
they will be given the option to go directly to the next account to be reviewed
when they return. At the close of the day the collection
queue files are evaluated and presented on a report called the Collection
Queue Results Report. This
report includes valuable details such as total calls worked, contacted, promise
to pays received, and total calls not worked. Accounts assigned to special “queues”
will fall into these queues the next day and also be presented on the Collection
Queue Processing Report. Personnel
in charge of these special type “queues”, such as repossession, bankruptcy,
or management review, will use their “queue” file much like the collection
personnel do. They will access
their “queue” through the main Collection Module screen and make
their notes according to the results of their customer contact efforts. Finally, a way to track all the different
aspects of maintaining your account portfolio and the efforts applied by your
staff!
