The current credit environment can be characterised as one of intense competition for customers, with organisations often taking additional risk to grow credit portfolios. In a dynamic market, where products, customers, revenue streams and costs are continually changing, it is vital that organisations are able to rapidly respond to market changes with revised strategies.

The collections arena is very complex, utilising a combination of strategy, technology, and human capital, to achieve the organisation’s goals. What differentiates the ‘best companies’ from ‘the rest’ is largely their ability to effectively manage a number of key areas within collections:

• Collections costs

• Customer interactions

• Collections resources

CollectSmart is a powerful, modular, enterprise-wide collections solution. It combines business controlled segmentation with the allocation of appropriate and differentiated actions to individual customer profiles all accessed via an easy-to-use interface.
 

CollectSmart Features

CollectSmart offers organisations a wide range of features to better manage their delinquent accounts:

• Control of multiple portfolios, independently or at consolidated level

• Champion/Challenger strategy testing

• User controlled segmentation trees and allocation of actions

• Collection queue definition

• Real-time allocation of collector work queues

• Structured, standardised, easy-to-use collections actions

• User-friendly collections screens

• Structured, diary based process for appropriate follow-up

• Automated system controlled functions to manage letters and ‘commitments to pay’

• User controlled system parameters, security levels and full audit trail

• Flexible MIS reporting

• Interfaces with internal and external data sources:

• Customer information files

• Account billing systems

• Fulfillment service providers

• Predictive diallers 

CollectSmart Benefits

CollectSmart enables an organisation to:

• Reduce collections costs

• Effectively segment customers

• Apply appropriate actions

• Ensure appropriate collector interaction through collections scripts

• Improve recoveries

• Optimise the effectiveness of collections resources

• Improve contactability

CollectSmart combines industry best practices, leading edge functionality and the best aspects of many credit management systems, into a single powerful and practical collections solution.