Automated Correspondence and Debt Collection
Debt management companies receive thousands of mail items on a daily basis and inaccurate or subjective classification of these means they can end up with the wrong teams, causing delays in the debt collection process. Data Capture Solutions offer a straight-through, touch-less process for streamlining the management of documents in the debt collection cycle.
- All inbound items are captured and converted to digital format at their point of entry.
- Ready-to-action information is routed automatically to the appropriate team members without the need for any physical documents to be transported between sites.
- All customer correspondence is retained to meet compliance requirements set by the CSA and meet retention standards such as BIP0008.
DCS provide a unique proposition in automating the end-to-end debt collection cycle with best-in-class technology. DCS are platinum resellers of Kofax capture technology, allowing accurate information capture from all incoming correspondence, irrespective of the source format. FileStore, our award-winning document management and workflow automation software, then allows you to manage information cost-effectively and efficiently. Our solutions are used by many companies registered with CSA and they have seen the following benefits within 6 months of implementation:
Improving team efficiencies
Staff members no longer waste time searching for correspondence from customers or external agents. Instead, their time is invested in managing high value accounts and resolving any disputes that arise.
Early identification of fraud
With all customer information accessible from FileStore, incoming information can be matched to existing records to identify fraud early in the process. This enables staff to resolve these issues before they are referred to the FSA.
Improve turnaround time and increase profitability
Achieve quicker turnaround times with a touch-less collection process. DCS solutions allow you to set and increase SLAs with clients, increase bank ratings and increase the prospects of winning new accounts, significantly boosting your profitability.
Reduce the cost of compliance
FileStore gives you the ability to control and secure access to confidential customer information and also generates a full audit trail conforming to BIP 008, the British standard for legal admissibility.
Improve customer service
Provide faster response to customer queries as all information is distributed to knowledge workers quickly, enabling better and faster decision making.
To discuss how you can improve your debt collection process, please call one of our business consultants on 01753 616720 or email your enquiry to firstname.lastname@example.org