Nobody likes to make those calls to debtors to collect funds, not even debt collectors. But in the current economic climate, we find ourselves, this is becoming more and more necessary. To compound, this issue most small businesses follow up on accounts off of a spreadsheet or report.
Filtering and editing a spreadsheet for overdue accounts takes time. And is often the last thing you or your admin team want to do. Therefore pushing your follow up process back, and leading to accounts being overdue for longer than they should be. IsoEvolve debt collection software changes that two to three day edit the spreadsheet to see who to call into an instant option.
Debt collection does not have to be difficult. With the right tools, you can ensure that your follow up process is smooth and efficient. There is no need for the uncomfortable conversations with debtors that put your staff off. IsoEvolve allows you to define the messages that go out as well as when they should be triggered to be sent.
Benefits of IsoDebt Software
- Strategic workflow and continuity.
IsoEvolve allows you to design and customize your workflows for multiple strategies. Different strategies are able to be run concurrently and have sufficient intelligence to prevent duplications or conflicting workflows. Historic and current data must be available to predict models for the future. Automating these workflows (or parts thereof) is a key component in moving away from manual human intervention.
- The integrity of your data.
IsoDebt is designed to ensure that information cannot be deleted. The history of notes is automated and cannot be tampered with, thus ensuring credibility should you be audited.
- Automated Reminders.
IsoDebt has the ability to remind your clients when their payments are due. As well as notify you when a payment agreement has been breached. Reminders to your clients and your admin team become critical when volumes increase. And ensure that your bad debt book is correctly maintained.
The goal at the end of the day is successful debt recovery. Debt collection software goes a long way to ensuring reliable, accurate processes and reduced revenue leakage. Cash is king and every business needs a stable cash flow to succeed. If your practice is bleeding cash due to bad debts not being recovered. Then you need to consider debt collection software.
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For information on what to look for when buying debt collection software click here