Accounts Recievable Collections
Our collectors are trained and certified to negotiate with debtors, refer accounts to trace, re-schedule accounts and refer for closure based on their experience and the historical validity of their previous decisions in these areas. We will dedicate collectors and tracers to your accounts as dictated by volumes of accounts listed.
Inventory is managed by our collection software. Clients and their separate dockets are identified, and separate statistics are accumulated simply by assigning separate account numbers to each docket or Client. Each debtor is assigned an account number. All debtors are automatically cross referenced for duplications by name, address, phone number and SIN numbers. Accounts are assigned to the collectors by way of pre-determined parameters. Accounts are recommended for closure by the collector handling them and referred to management on a weekly basis.
A daily activity report is produced by the collection software that provides details of the collector's activity, such as
- Hours worked.
- Time worked on each individual file.
- Action taken.
- Dollar amount expected to be collected.
- Comments.
- Date account has been scheduled for follow-up
Our system does not allow any account to be re-scheduled for more than 10 days. We have productivity standards that are set by historical data, comparison data from other collectors and evaluation data provided by our clients. Collectors work hours are staggered to enhance chances of contact with "hard to reach" debtors.