collections software

CollectionsCloud

Reduce Collection Cycles
Improve Cash Flow
Make Happy Customers
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Stop Revenue Leakage

When it comes to accounts receivables, managing outstanding balances without automated collections software is one of the biggest challenges businesses face. Whether that’s understanding the total amount of revenue past due, accounts at risk, or losing track of aging balances, the complex nature of the receivables process can make this a highly difficult and time-consuming process.

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Manual Collection Processes
Can’t Keep Up

Most organizations find themselves managing collections with manual processes instead of automated collections software, leading to issues for both you and your customers:

  • Revenue loss
  • Frustrated employees
  • Customer churn

 

manual collections

“Using a modern, enterprise-grade software solution to automate collection activities based on risk, probability of success, and best practices, organizations can decrease DSO, reduce churn, and improve customer relations.”

MGIAndrew Dailey,
Managing Director, MGI Research

A Better Way to Manage Collections

Businesses now more than ever are looking to technology to help streamline their collections processes. From cloud-based solutions to automated processes to having everything in a single collections software solution, technology is the way to help minimize revenue loss, optimize employee productivity and improve customer relations.

That’s why we Built CollectionsCloud

By aligning technology with staff, CollectionsCloud from BillingPlatform will conform to the specific needs of your business, allowing you to easily track and automate collection activities.

With billing and collections in a single solution the system will:

  • Prioritize accounts that need attention
  • Link payments to invoices
  • Maintain an audit trail of all activities

Debt Management and Collections
in a Single Automated Solution

Collector Dashboard

  • A comprehensive view of outstanding debt
  • Track, review, and action collection strategies
  • Access to customer history

Automate Notifications and Alerts

  • Automatically send payment reminders
  • Configure strategies with defined thresholds
  • Ensure follow-through to lower errors

Flexible Strategies

  • Use out-of-the-box strategies or build your own
  • Deploy a mix of automated and manual tasks
  • Tailor strategies for any customer segment

Analytics

  • Analyze the performance of strategies
  • Dynamically make changes
  • Utilize the most effective strategies

Collection Agency Data Exchange

Don’t manage collections in-house? No problem. We can easily share your collections data with the collection agency of choice.

The Opportunity

10-20%
Reduction in DSO

  • Reduce overdue payments minimizing bad debt write-off
  • Automatically identify accounts that require attention
  • Segment customers based on risk to address all levels of delinquency

12-15%
Reduction in Churn

  • Automate tasks and notifications when action is needed
  • Deploy strategies for high touch or low touch interactions
  • Analyze strategy performance and dynamically make changes to achieve the best results

3X
Increased Productivity

  • Optimize the productivity of your employees
  • Prioritize daily collection activities in a comprehensive dashboard
  • Track, review, and action strategies from the Collector Dashboard

“Today, cash collections have never been more important. Too many businesses handle collections via semi-manual or manual processes that lead to revenue leakage and customer dissatisfaction. Using a modern, enterprise-grade software solution to automate collection activities based on risk, probability of success, and best practices, organizations can decrease DSO, reduce churn, and improve customer relations. This is one area of process automation that can lead to a positive earnings surprise and higher company valuation.”

Andrew Dailey, Managing Director, MGI Research

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to get started?

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