Four new functionalities have been implemented in the VSoft Collection system, which is used to support the debt collection process. The implemented elements are a response to the business needs of our clients in the field of mass realization of debt collection activities.
The essential values for the system user are:
1. Mass replenishment of debtors’ contact information with data obtained from external sources, e.g. (SKIP/ City Hall /External Collection Companies).
Mass replenishment of debtors’ contact data with data obtained from external sources is a process that aims to replenish contact data on debtors. In terms of functionality, the system allows mass loading of addresses that are marked in the system as up-to-date: mailing addresses, telephone numbers, e-mail addresses, which are used in terms of equal forms of contact with the debtor.
2. Mass execution of collection actions for cases from the file (text message, email, letter, suspension of case handling, referral to the appropriate case status in the process, assignment of an employee to a case in the process).
The process of mass collection for cases on a per-file basis enables efficient management of a large number of collection cases simultaneously, allowing companies to achieve better results with fewer resources.
For case numbers whose source is a file, the user from the level of the system has the ability to order a selected collection action in bulk. As a result of launching an action order for cases indicated in the file, the system automatically:
- Recommends the execution of collection action for the cases indicated in the file,
- sets aside an entry in the case history regardless of the result of the action order but with information on the status of its execution,
- generates a summary alert for the user who is the custodian (assigned employee) of a case in the process, that for his ‘x’ cases in the system a collection action has been ordered and has not been executed, along with information on the reason for non-execution,
- provides the ability to download a file with a presentation of the results of an action order.
Building such a solution gives a wide range of possibilities in terms of the appropriate alignment of cases in the collection process, which for some reason are stuck at the wrong stage of the proceedings.
3. Automatic sending of messages to customers (sms, e-mail) about the approaching due date of the established declaration.
Automated messaging not only helps keep payments on time, but also improves relations with customers by providing them with a convenient and advance reminder of the upcoming date of the declared payment. The system automatically generates messages based on defined debtor data and the payment schedule adopted in the system, eliminating the need to manually create each message. Based on the analysis of the feedback data, the strategy for sending messages can be adjusted to maximize their effectiveness and reach the debtor.
4. The ability to prepare an agreement/write to the client with an accepted repayment schedule. In terms of implementing a settlement agreement with a debtor, it is essential to have a thorough understanding of the customer’s financial situation and his ability to repay the obligation. This makes it possible to establish a realistic repayment schedule that suits both the customer and the company. Based on the analysis of the debtor’s situation, the product allows you to generate a dedicated repayment schedule from the established terms of the agreement, such as the amount of the debt, the amount of installments, interest, possible penalties for late payment, and due dates, and save the repayment schedule in the system and monitor it. On the basis of the accepted repayment schedule, the system allows you to prepare a letter for the debtor.
Preparing a document with an accepted repayment schedule is an important step in managing customer relations and ensuring transparency and fairness in the repayment process. Attention to the clear formulation of contracts and adequate support for customers in difficult financial situations can contribute to building customer trust and loyalty to the company. Personalization allows customers to easily understand the terms of the contract and increases their trust in the company.
Get acquainted with the VSoft Collection system for the management of collection processes and several independent connectors that will streamline your daily business operations!
