Revenue Collection and Debt Recovery Management Software System
January 03 2019
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 PowerCollectenables 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
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.
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
Extensive, automatic recording of all system activity and auditing information.
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
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
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
An Unparalleled View of Customers from a Single, Unified Interaction
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
Understanding a Customerís previous collection actions is critical to
resolving a new delinquency. There are important questions to note and consider
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:
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:
Provides a profit-centric holistic view of all customer information and
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.
Provides an excellent portal, which enables efficient and effective recovery
management for internal Legal Departments, External Legal firms and Collection
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.
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.
Provides complete solutions for tracking, managing and resolving customer
support issues. Targeted marketing campaigns can also be managed, tracked
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
Strategizing on desirable treatment strategies/streams for handling and
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
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
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
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.