Collections Management
Collect Proactively. Predict customer delinquency 30 days in advance.
AI algorithms assess historical payment data to pinpoint 100+ variables and their impact on influencing past-due balances.
AI models predict future delinquency and rank customers by importance in collections using impact variables.
Assign collector portfolios based on a collector’s daily bandwidth, enabling optimized workload management.
Explore our e-book based on 500+ receivables projects, finding that A/R leaders boost KPIs by assessing maturity in 5 key areas: people, processes, data, collaboration, and technology.
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Insights into the latest tech-enabled collections capabilities and their benefits
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B2B collections maturity model helps analyze, align & execute collections processes more effectively. Download this free tool to evaluate your maturity level!
Download the TemplateA collections worklist prioritization software uses advanced algorithms and AI to sort and rank overdue accounts based on urgency and payment likelihood. Instead of manually tracking which customers to reach out, the software automates this task by analyzing data like payment history, outstanding amounts, and credit risk.
Collectors get a prioritized list of accounts that need attention, allowing them to focus on those most likely to pay or those who owe the most. This makes the collections process faster and more efficient, helping businesses recover past-due payments sooner.
Collections account prioritization is a method that ranks overdue customer accounts based on the risk of late or non-payment. Using factors like how long the payment is overdue, the customer’s payment history, and the amount owed, businesses can decide which accounts need immediate follow-up.
By focusing on high-risk accounts first, companies can recover overdue payments more efficiently. A prioritized collections worklist ensures that collection efforts are targeted at the most critical cases, thereby increasing the productivity of the team and improving the likelihood of payment.
Prioritizing collection accounts is crucial because it helps businesses focus their efforts on the most critical overdue payments. By identifying which customers are most likely to pay late or not at all, collectors can take immediate action on high-risk accounts, preventing further delays and reducing bad debt.
This approach speeds up the collections management process by assigning collector portfolios based on the team’s bandwidth and reducing the time accounts stay overdue. Without prioritization, collectors might waste time on low-risk accounts while high-risk ones remain unaddressed, negatively affecting a company’s financial health.
Businesses should use collections worklist prioritization software to make their collections process more efficient. The software automatically ranks overdue accounts, helping collectors focus on customers who need immediate follow-up.
It reduces the time spent on manual sorting and ensures that high-priority accounts are addressed first. By automating the prioritization process, businesses can recover overdue payments faster, reduce the risk of bad debt, and improve their overall cash flow. It also enhances the productivity of collections teams, enabling them to handle more accounts in less time.
Collections Management Software helps you optimize your working capital & reduce your DSO while seamlessly integrating with your existing collections systems. It extracts data from your ERP, prioritizes the right customers to call, automates email correspondence & makes collections calling faster & simpler.
The Collection Software Solution helps you reduce your past due by 20% and increase your collections productivity by 30%. With the help of AI, collectors can make 2X collection calls, send 10X automated emails and improve the weekly past due customer coverage by 4 times.
Automated debt collection software reduces DSO by leveraging AI for prioritizing accounts, automating email correspondences with smart payment links, and one-click calling with auto-transcription & follow-up emails. It streamlines operations & accelerates receivables recovery leading to faster payments & reduced DSO.
The best Debt Collections Management Software is an all-in-one solution automating the entire collections process. It should prioritize the right customers, automate email correspondences and offer one-click calling within the solution with auto transcription and follow up emails.
Our Collections Management Software stands out with the AI Prioritized Worklist which is trained on $10.3 trillion of financial data. It can accurately predict customer payment delays 30 days in advance. The In-App Dialer helps collectors make more collection calls. FreedaGPT automates note-taking & task logging.
Yes, our Cloud Based Collection Management software seamlessly integrates with your ERP. It offers out-of-the-box connectivity with major ERPs like SAP, Oracle NetSuite, Microsoft Dynamics, and Sage Intacct. Additionally, it supports API integration for Quickbooks, Sage Intacct, and Microsoft Business Central.
The implementation time for our payment collection software varies based on the complexity of your organization’s requirements. However, our Speed to Value methodology guarantees swift implementation and ROI realization within 3 to 6 months, setting an industry benchmark.
Yes, our Collections Management Software seamlessly integrates with major banks. It offers out-of-the-box support for leading institutions like BofA, Citi, PNC, Chase, Wells Fargo, HSBC, ING, and others. Additionally, it supports standard banking formats such as BAI, MT940, and MT942, providing real-time insights into processed statements. For low-volume scenarios, CSV and Excel file imports are supported, ensuring flexibility and convenience.
Our cloud debt collection software requires minimal IT involvement. With seamless plug-and-play integration into ERPs using real-time APIs and Hex (SFTP) connectors, along with pre-built modules and industry-specific best practices, customers can deploy remotely with ease, reducing all IT dependencies.
We prioritize data security & privacy, adhering to stringent industry standards such as GDPR, ISO, PCI DSS, HIPAA, & SOC. We employ robust encryption protocols & role-based access controls to safeguard sensitive financial data, ensuring utmost confidentiality & compliance with regulatory requirements.
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