Posted on: 26 November 2015
Today's debt collection companies have to be more sophisticated to keep up with people who are delinquent or past due on accounts. Choosing the right collections software can make your job easier, helping you and your staff to recover more money in less time. Here are a few key features you should look for in your debt collections software.
Skip Tracing Coordination
If you use a skip tracing service to track down people on your collections lists, you'll want to make sure that you have a software program that works with your skip tracing service's setup. Some debt collection software can interact with your skip tracing service, letting you submit requests for contact information on an individual so the skip trace can begin.
In-House Phone System Functionality
Your collections software should work with your existing phone system so your collectors can move quickly from one call to the next. An automated setup lets the system call many people on your list at the same time, connecting them with one of your operators only if a person answers the phone. This saves time, as your call center staff won't have to make manual calls to reach the debtors on your lists. The software should also allow your staff to enter information when a debtor states that he or she does not want to be contacted by phone, which helps you comply with debt collection laws and regulations.
Call Center Work Queue
Whether you have one or 100 people working the phones in your collection center, you want to be sure that the queue of calls to be made flows properly throughout the day. Your debt collection software should allow your call center staff to move from one call to the next quickly. Make sure your system is set up so that wrong numbers, inaccurate information and missing data can be relayed to your skip tracing services for collections team for further review and research.
The best collection software will provide reporting based on several different variables, including completed call percentage, number of debts successfully collected, performance data for each of your call center operators, and a range of other reporting figures. Your software should be flexible enough to let you customize your reporting to provide the data you need for all of your business needs. Look for a program that gives you feedback about the success or your skip tracing service so you can monitor its effectiveness in providing you the information you need to contact people on your list of debtors.
Bill collections may be more sophisticated, but the right software can handle every step of the process, from working with your skip tracing service to automating your daily phone calls. Look for a system that is flexible so you can ensure your business needs are being met no matter how many collections accounts you are working with.Share