Added value of debt collection agency

Added value of debt collection agency

The added value of using a debt collection agency can include the following:

1. Increased recovery rate: Debt collection agencies have specialized knowledge and experience in collecting past-due accounts, and can often use strategies that in-house staff may not be aware of, resulting in a higher recovery rate of past-due debts.
2. Time-saving: Outsourcing the task of collecting past-due debts to a debt collection agency allows in-house staff to focus on other tasks, saving valuable time and increasing efficiency.
3. Legal expertise: Debt collection agencies may have legal expertise that in-house staff may not have, and can take legal action such as filing a lawsuit, wage garnishment, and bank levy, to recover past-due debts.
4. Improved cash flow: By recovering past-due debts, businesses can improve their cash flow and better manage their finances.
5. Better customer relations: By using a debt collection agency, businesses can maintain good customer relations by avoiding confrontations with customers over past-due debts, and instead allowing a professional agency to handle the situation.
6. Cost-effective: Outsourcing debt collection to an agency may be more cost-effective than maintaining an in-house collection department, as agencies typically charge a percentage of the amount collected, rather than a salary and benefits for an in-house staff.

For this reasons Qube Servicing will integrate debt collection agencies when deemed necessary as part of credit & collection management supported by PRI® CrediSoft.

PRI® CrediSoft is a proprietary receivables credit platform supporting credit management processes supported by Qube Servicing. The platform manages and integrates collection workflows and tasks

• On a daily basis as wells as intraday PRI® CrediSoft manages, controls and monitors all collection tasks defined as part of credit management:

• • Main workflow;
  • Subflows such as
    • Promise to pay, and
    • Disputes;
• Receivables portfolio performance via Dashboard functionality;
• Administration, Debtor and Receivables information accessed via Agenda and/or Debtor section, and
• Detailed information generated in the Reports section:
• Supports debtor communication as well as (internal) client communication by mail, multi languages, as part of the collection workflow tasks, incl. logging as part of tasks performed;

• Enables access to specific Debtor, including Receivables, workflows to third parties such as credit insurers, credit collection agencies and/or bailiffs providing when required;

• And supports Voice over IP.

PRI® CrediSoft has been developed based on experience by Qube Servicing with market offerings and with the objective to enhance user friendly and efficiency of the credit management application supporting the collection process.

Compared with the market the service and functionality offered by PRI® CrediSoft proofs to be excellent and evidenced by demo on request.