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!