CoreCOLLECT is a comprehensive, workflow driven collections and debt recovery software application designed to optimize debt recovery rates, reduce personnel costs and improve collector productivity. CoreCOLLECT’s complex queuing and reporting capabilities enables users to automate, track and modify collections activities in real-time. CoreCOLLECT is an intuitive, browser-based user interface reducing training time and speeding collectors’ time to productivity. This functionality, coupled with the application’s embedded security, enables lenders to provide third party collection agencies located in distant locations and time zones access to all cases assigned to them.
- Case management
- Queue creation, assignment and management
- Payment plan management (promise to pay)
- Adding and Viewing notes
- Charging and reversing fees
- Manual charge-off
- Manual reage
- Setup and manage collections agencies
- Dunning series
- Work group management
CoreCOLLECT PROVIDES A WORKFLOW BASED TOOL FOR CARD COLLECTIONS
CoreCOLLECT is a comprehensive, workflow driven collections and debt recovery software application designed to optimize debt recovery rates, reduce personnel costs and improve collector productivity. CoreCOLLECT’s complex queuing and reporting capabilities enables users to automate, track and modify collections activities in real-time.
CoreCOLLECT is an intuitive, browser-based user interface reducing training time and speeding collectors’ time to productivity. This functionality, coupled with the application’s embedded security, enables lenders to provide third party collection agencies located in distant locations and time zones access to all cases assigned to them.
CoreCOLLECT’s RICH FEATURES INCLUDE
Flexible Payment Controls Hundreds of configurable parameters enable supervisors to develop a broad range of payment variances, multiple grace days and prepayments against promise to pay records recorded in CoreCOLLECT. No changes are made to accounts in the lending system, ensuring correct reporting of delinquency.
Multiple Payment Schedules Multiple payment schedules can be created on a single account. Each schedule can have a unique frequency, term and payment amount. Users with the appropriate permissions may make modifications. Each promised payment is tracked and marked as “Kept” or “Broken.”
Powerful Queue Assignment Capability Accounts can be segmented into queues based on the evaluation of almost 50 variables including a variety of balances, dates, past due history, account number ranges and status, product, billing cycle and postal codes. Additional variables are available for segmenting accounts in a charge-off status.
Collectors can also be assigned to collection queues according to their individual skill-set and experience. New queues can be created and collectors reassigned to a different queue in real-time.
CoreCOLLECT’s automated restructuring facility enables accounts to be re-assigned to a different queue as conditions change; resulting in a continuous refinement of collection strategies.
Champion – Challenger Support Support for concurrent champion – challenger strategies enables lenders to constantly hone collection processes for optimal recovery rates.
Global Work Screen & Easy Navigation Functioning as the collector’s “homepage,” the global work screen automatically presents collectors with their next collection case in the queue. The work screen also displays the script and all allowed actions (outcomes) for that case, and provides the ability to record and view promise to pay records and case history.
If CoreCOLLECT is deployed with CoreISSUE , collectors can view real-time current and historical customer and account information, payment history, co-owner information, company information, transaction history and notes made by customer service representatives or other collectors with just one mouse click.
Powerful online search capabilities allow collectors to manually locate a collections case or facilitate incoming and outgoing automatic dialers.
Customizable Workflows Consisting of a series of work steps, workflows or actions taken by collectors (such as phone calls and letters) can be fully scripted and automated by the lender, ensuring shorter training periods and more consistent business processes. More than 75 variables are currently supported in these workflows. Scripts may be used to train new collectors or present key information to more experienced collectors, and quickly modified whenever needed.
Integrated Letters Letters can be generated automatically or manually at any stage of the collection process and as part of any scripted outcome selected by a collector. Letter templates with commonly used variables are provided with the application, which can be easily customized as required. Full integration with Microsoft Word is supported.
Integrated “Rule Sets” The script definition tool automates manual activities such as setting an account’s available credit to $0. New activities can easily be added to existing scripts with little programming support. Flexible Re-queue Periods Every script may include multiple “outcomes” and each outcome has its own re-queue period of minutes, hours, days, weeks or months. Manual appointments are also supported. Re-queue periods apply to manual and automated outcomes such as letters.
Advanced Reporting Standard and ad hoc reports are supported to monitor accounts in collections and collector performance. Activity-based costing reports enable accurate management of the cost of collections and recoveries.
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