CollectionsCloud

Reduce Collection Cycles. Improve Cash Flow.
Make Happy Customers.

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Stop Revenue Leakage

One of the biggest challenges businesses face is managing outstanding balances.

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 difficult and time-consuming process—leading to issues for you and your customers if done manually.

A Better Way to
Manage Collections

Businesses now more than ever are looking to technology to help streamline their collection processes. From cloud-based solutions to automated processes to integrated billing, payments and collections, 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
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That’s Why We Built CollectionsCloud

Key CollectionsCloud Features

Debt Management and Collections in a Single Automated Solution

Collector Dashboard

The configurable collector dashboard offers everything your collectors need on a single screen. From a real-time status of all activities to a prioritized list of accounts with actions due to easy access to customer history, collectors are able to stay on top of their accounts and collect outstanding balances faster.

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

Automate Notifications and Alerts

Keep customers informed of outstanding balances with automated notifications and out-of-the-box collection tasks that trigger when certain thresholds are met. Or, with our easy to use interface, build your own mix of manual and automated actions to achieve high touch or low touch interactions and track progress to ensure follow-through.

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

Flexible Strategies

Tailor strategies with the right mix of automated and manual actions. Actions can be as simple as adding a note on an account, setting a reminder to call a customer or sending an automated email or text. And with the ability to segment customers based on the parameters you define you can fully automate collections activities for low-risk customers and create custom strategies that include a mix of manual and automated actions for high-risk accounts.

  • 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

Utilize business intelligence to get real-time visibility into the performance of collection strategies and dynamically make changes, so you are always using the most effective strategies.

  • 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

How CollectionsCloud Can Help

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

 

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

 

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

 

“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.”

Andrew Dailey
Managing Director, MGI Research

Additional Resources