Using a debt collection agency can be an effective part of credit and collection management for several reasons.
First, they have specialized knowledge and experience in collecting past-due accounts, and can often use strategies that in-house staff may not be aware of.
Second, using a debt collection agency allows a business to outsource the time-consuming and often unpleasant task of collecting past-due debts, allowing in-house staff to focus on other tasks.
Third, using a debt collection agency can also serve as a deterrent to customers who may be considering not paying their bills, as they know that their debt will be turned over to a professional agency if they do not pay.
Lastly, debt collection agencies may also have legal authority to take certain actions such as filing a lawsuit, wage garnishment, and bank levy which in-house staff may not have.
For this reasons Qube Servicing will integrate debt collection agencies when deemed necessary as part of credit & collection management supported by 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.
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