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Kollect PowerApps †††
Revenue Collection and Debt Recovery Management Software System
 
Kollect PowerApps is a suite of applications that facilitates the entire Credit Collections Management and Revenue Recovery lifecycle. PAS provides a complete range of powerful, integrated capabilities for service providers such as Telcos, Utilities, Banks, Credit Card Providers, Finances, Medical Facilities and other organizations that have collectable accounts.
Features & Benefits:

  • It helps automate and streamline the Collections and Revenue Management
  • Helps organizations reduce bad debt, improve cash flow and lower the days of receivable outstanding.
  • Collections personnel have access to up-to-the minute information on each customer in terms of delinquencies, payments, disputes and promises to pay
  • Offers an integrated payment, flexible aging, dynamic workflow and dynamic strategy manager engine.

Kollect Rules & Policy Manager provides unparalleled power, efficiency, and ease-of-use to collections and revenue management personnel.

Kollect PowerCollect enables organizations to effectively manage their core collections while rapidly adding new Customers and Services.

Kollect Scoring Manager assists organizations in managing their existing Customersí Accounts.

  • Enabling organizations to target low risk Customer Accounts for limit increases, authorization approval and cross-selling opportunities
  • Targets high risk Customer Accounts for accelerated collection efforts.



Kollect PowerApps Feature Overview


    One-Stop Unified Interaction

    • With a centralized database, collections department, legal departments, customers and all level of users are able to interact via multiple communication mediums.
    • Kollect PowerCollect provides a holistic view of customers.
    • Customers can have web access to view the status of their customer accounts, products in terms of profitability, and payments and collectors interactions with their debtors.
    • Extensive interactive and comprehensive documentation to get collectors, skip tracers and managers, hence producing peak levels in record time.

    Easy Navigation

    • Intelligent navigation for easy data entry with flexible, easy to use search tools that maintain a history of recent searches and interactions with customers.
    • Single-click access to detailed, user customizable grid views of all information.
    • Ready made tools for data loading, GUI customization, and business rules changes.
    • Extensive, automatic recording of all system activity and auditing information.

    Powerful Integration

    • Integrated access to third-party information service and credit bureaus, OCA and legal.
    • Integrated and real-time payment system.
    • Host interfaces to billing (Telcos, Energy, Cable, ISP), loan & mortgage, credit cards, financial systems (A/R, general ledger), outside agencies, fraud, skip tracing agencies online and CD-Rom.

    Flexible Business Rules

    • Supremely flexible aging go from a 1-day aging cycle to Ďní number of age or delinquent cycle(e.g. 0 - 12 days, 15 - 43 days or 30 - 40 days).
    • Variable aging cycle definition based upon business rules.
    • Collectors can work their customer accounts with pre-defined business rules. Flexible and straightforward account management for collectors and managers.

Collections: A Key to Effective Customer Relationship Management


    Extending the Relationship

    Collection activities should be viewed as an integral part to a successful Customer Relationship and Value Management.

    Organizations need the ability to view their customers at a new, cross-application level and understand the value of their customers beyond simple payment history and weigh other factors including:

    • Longevity as a customer
    • Credit rating and scores
    • Reference ability
    • Financial health

    By integrating all of the Kollect PowerApps modules and the organizationís existing related applications, it will offer a unique solution that spans lines of business and allow organizations to holistically view and plan successful collection strategies for their entire customer base from a single, unified solution.

    An Unparalleled View of Customers from a Single, Unified Interaction Center Desktop

    Access to customer information across all product/service lines becomes paramount as organizations are continually challenged with offers. Kollect PowerApps provides easy access to all product/service lines from a single, unified, and universal interaction center on the desktop.

    Collections personnel are better informed about their customers, and can respond more rapidly and accurately to build long-term profitable customer relationships. In addition to standard customer management, the desktop screen offers a series of tabs that provide summary information about collection activities.

    Kollect PowerApps offers a unique view into customers that results in:

    • Better-informed collections personnel
    • More satisfied customers
    • Improved customer relationships

    Detailed Histories Illustrating Customer Activities

    Understanding a Customerís previous collection actions is critical to resolving a new delinquency. There are important questions to note and consider such as:

    • How many calls had been made to the Customer?
    • Whatís their track record on promises to pay?
    • Is there an unresolved payment dispute that is the cause of this delinquency?

    Kollect PowerApps provides detailed histories on past collection calls and outcomes, communications, and historical payment information.

    Collectors can drill down into specific histories and see notes written for each action as well as, leverage all interaction history to view any interaction a Customer has had with their organization.


Optimized Business Functions to Streamline Collections Activities


    Collections Profile for Quick Analysis of Customer

    In order to help the collector manage each Customer effectively, Kollect Customer and Account Manager provides a Collections Profile containing information on delinquencies in the customerís account. Data that is visibly displayed to the Collector are:

    • Customer data along with payment due dates and account status
    • Last payments made
    • Total amounts due and overdue

    Real-Time Payment Processing to Collect Money Immediately or Obtain Promise to Pay

    Once the customer agrees to pay, the Collector can receive payment in a number of methods including:

    • Credit card
    • Bank check
    • Electronic Funds Transfer

    If a payment is promised, key data is recorded and then tracked for automatic follow-up. If a customer wants to dispute a bill or reverse an earlier payment, the collector can facilitate their request and submit it for processing. All payments are reconciled with the general ledger of the master financial system and promises that are not kept result in additional collections activities.

    Ready for Fast Deployment in Interaction Centers

    Kollect PowerApps offers a streamlined CTI enabled, multi media collections center application. All Collectorí work may be viewed and selected from a worklist for easy access. Collections campaigns may be dialed via Preview, Progressive or Predictive methods. Kollect Interactor and Notifier supports call routing and populated screens pops by connecting to ACD/PBX DNIS or IVR supporting inbound customer calls.

    Kollect Interactor and Notifier

    Leverages collections messaging by storing messages and/or by automatically playing prerecorded messages customerís answering machines. Manual dialing is also supported to automate later-stage delinquency management. Kollect Rules suggest what treatments to be effectively performed on customer accounts.

    Unlimited Support for Changing Business Rules

    Kollect PowerApps and Policy Manager fully customizable to meet your business needs.
    They provide the ability to add or change business policies as required achieving the most appropriate balance between your organizationís unique business practices, policies and customersí needs.

    Interfacing with Credit Bureaus

    Kollect PowerApps provides features interfacing with credit bureau agencies to access credit history information on individuals or corporate customers. It also has the capabilities to interface with central banks credit bureau system.


Automating the Entire Collections&Revenue Management Lifecycle


    To enable Profit Optimization of the entire Collections and Revenue Recovery lifecycle, Kollect PowerApps delivers a comprehensive solution that consists of the following scalable and integrative modules:

    PowerCollect

    • Provides a profit-centric holistic view of all customer information and interactions.
    • Enables customer centric payment management such as configuring installment plans and payment modes.
    • Secures promises to pay.
    • Offers users the flexibility of creating and editing credit treatment strategies for customer management and CRM.

    PowerAgency

    • Provides an excellent portal, which enables efficient and effective recovery management for internal Legal Departments, External Legal firms and Collection Agency management.
    • It provides easy accessibility to real-time information on the status of customersí current accounts by the internal legal department, and delinquent customersí accounts that have been assigned to external legal firms and collection agencies.

    The PowerRepo

    • Ensures TQM in the handling of Repossession Management, especially in the case of vehicle repossession.
    • The repossession process should be handled delicately, and PowerRepo provides the capability of maintaining up-to-date information regarding and the unitsí maintenance and sale, dealersí contacts facilities, etc.
    • It helps to competently manage challenges faced with multiple repossession agents and multiple products. PowerRepo is an effective tool applicable to banks and hire-purchase organizations for collateralized loans.

    The PowerCare

    • Provides complete solutions for tracking, managing and resolving customer support issues. Targeted marketing campaigns can also be managed, tracked and measured.
    • PowerCare module manages, forecasts and reports throughout all phases of the sales cycle.

The Telco's Focus on Revenue Assurance

    With the advent of a slowing telecommunications market, increasing profit is a key objective for many Telco operators. Customer loyalty is increasingly at the forefront of Telcosí concerns, as it has long been recognized that customer retention costs less than customer acquisition.

    Revenue assurance has become an area which Kollect PowerApps can help address by covering areas such as:

    • Strategizing on desirable treatment strategies streams for handling and maintaining a good relationship with customers credit scoring on their credit worthiness and payment behaviors.
    • Strategizing on the appropriate disconnection policy for service deactivation and reactivation integration with fraud management
    • Management of delinquent customer accounts, skip tracing and churn determination.

The Bank's Focus on Asset Quality

    The banking business is traditionally cyclical, and tracks the business cycle through recovery and expansion, boom and peak, contraction and recession. Asset quality is one of the most important criteria in establishing the creditworthiness of a bank.

    i.e. the likelihood that the bankís earning assets will continue to perform. Banks make the most of their income from lending money to individuals and businesses, and loans comprise the lionís share of most banks earning assets. Non-performing loans (NPLs) i.e. problem assets become a burden to the bank, in which an increase of proportion of these problem assets will cause the bank to experience deterioration of its asset quality.

    Asset quality has become an area which Kollect PowerApps can help address by covering areas such as:

    • Management of delinquent customer accounts
    • Regulatory compliance with central banks/regulatory bodies
    • Skip tracing
    • Strategizing on desirable treatment strategies/streams for handling and maintaining CRM
    • Credit scoring on the Customerís creditworthiness and payment behavior
    • Interfacing with credit bureaus
    • Integration with fraud management

Benefits to the Collectors

    The Kollect PowerApps can help make significant improvement to productivity of the collectors, without adding more staff to the organization. With a 360 degree customer view fully integrated on the collectorís desktop it ensures:

    • Information to customer profiles to contact them via their preferred phone, fax, or email
    • Have easy access to vital addresses.
    • Customers can receive messages.
    • Collectors can maintain contacts and collection notes consistently in a main data repository.
    • View and analyze summary information and drilldown details of the customerís account.

    The creation of business rules in the Kollect PowerApps Rules and Policy Manager all customersí invoices and tasks are assigned the most appropriate collection strategy and distributed to the optimal wordlists. It ensures delinquent and future delinquent customer accounts receive proper attention.


Benefits to the Collections Management

    The Kollect PowerApps can bring significant benefits to collections management, which include:

    • Organizations can act before a customer account becomes overdue resulting in speedier payments and a reduction in overdue customerís accounts.
    • The ability to balance collectorsí workloads through an easy-to-use visual graphics user interface. In order to make optimum use of collections personnel, collection managers must be able to quickly react to changes in collector availability or productivity in order to maximize collections effectiveness.
    • Assess department effectiveness through a variety of measurements. Collections managers may customize report formats to meet the reporting requirements of the organization. A variety of statistics/metrics including DSO, aging accounts by cycle, payment reconciliation reports via LIFO and FIFO.
    • Collection departments are able to manage cash flow on a hands-on basis. The system is equipped to call customers prior to receiving a large payment, avoiding any miscommunications or surprises.
    • The Application Suit provides correct data on possible billing errors and provides feedback needed to correct deficiencies. Such efforts significantly improves the accuracy of cash projections and positively improves cash flow.

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