Debt Collections Management Software System
"Collection Contact Management Software from Lgorithm solution helps collection organizations obtain more debt promises-to-pay, more efficiently and for less cost. Lgorithm solution offers powerful technology solutions for the Collection industry that can help you increase your right-party contact rates and streamline the communications process. Our unified solutions give you the tools to enhance the productivity of your collectors, save resources, gain more promises-to-pay, and improve your overall collection results."
Increase Productivity with higher right-Party Contacts:
Lgorithm solutions platform uses one of the industry’s most advanced dialing algorithms and superior tone and voice detection to drive collector productivity rates. With 90-95% answering machine detection, busy, no answer, and disconnect (temporary and permanent) tone recognition, collectors receive only live debtors, instead of unproductive numbers. Multiple phone numbers per debtor/account, account ownership and preview dialing, and multi-line dialing also help build contact rates. Our Predictive Analytics help you determine who to contact, when to contact them, and how to contact them, helping you achieve higher contact and conversion rates.
Save Collector Resources with Personalized Debtor Messaging:
Outbound messaging and text-to-speech tools help ensure that collectors are talking to the correct people. If the debtor is available, you can transfer the call to a collector, if not, leave an automated message with a return phone number. For more efficient service, the Lgorithm Solution can be integrated with your existing collections system to provide account information and payment options and record contact results automatically, without requiring a collector.
Increase Debtor Response with Interactive Tools & Payment Options:
Self-service menus allows debtors to respond immediately by entering a credit card number on the keypad for automated processing or getting an address to mail a payment. Or, they can choose to speak with a collector to negotiate a settlement and receive more account details.
Debt Collection Software - Improve Debt-Recovery & Service Levels with Effective Routing:
The use of skills-based routing can increase your collection results by sending debtors to more experienced collectors first, as they are available. Higher bucket or tougher accounts can be routed to more effective ,senior, experienced agent .
Unified Environment for All Communications
Collectors can be assigned to handle both outbound and inbound calls at the same time, promoting increased efficiency. Dialing automatically adjusts to fluctuating call volumes while optimizing collector activity. Collectors can work one-on-one with debtors on assigned accounts. Email and web support help you provide completely unified collection services for multimedia channels.
Least Cost Routing:
Our LCR routing enables Collection companies to reduce their Telco cost.
Maximize Performance with the Dynamic Management Suite
Manage all of your collections activities with our comprehensive Management Suite. Designed in a user-friendly environment, our manager tools allow users to build scripts, control center resources, monitor real-time performance, and create custom reports, without requiring high-level IT experts.
Features:
Multiple Dialing Modes
Predictive dialing is one of several collections dialer modes. The Lgorithm solution provides both predictive and non-predictive dialing modes (preview, power, progressive and manual). You can choose the dialing mode for each individual campaign, based on program needs, and assign different dialing modes to different collector groups, if desired.
Monitoring and Reporting
Reports and activities can be monitored and viewed in real-time to manage programs more effectively. Agencies can keep clients informed of campaign performance and results with data exports, summary and detail reports, and direct access to monitor collectors assigned to their accounts.
Flexible Scripting
The Collector script controls how information is captured and the workflow of the complete collection process. Our scripting solution offers a flexible, intuitive environment and can work with your current applications.
Multiple Numbers per Record
Lgorithm stores multiple phone numbers per record, with a main number and alternate numbers (such as home, work, cell, family etc.). You can easily create custom dialing plans to dial different numbers from the record based on the time of day.
Automated Messaging
Outbound messaging helps you increase contact rates while using collector resources more efficiently. Automated messages can be used when an answering machine is detected, leaving a call back number for more information. Live contacts may also be directed to a pre-recorded message to help identify the right party and to provide debtor self-service, with access to personalized account information or the option to speak with a collector.
Debtor lead Management
Our Debt management lead system helps improve collector productivity with account ownership. Managing specific accounts helps collectors build relationships with debtors and increase payment rates. Collectors can review their work lists and select a record to view debtor information and account history before the call is dialed.
Real-time Record Update
It is critical to be able to update campaigns in real-time so that parties are not called inappropriately. Our integrated database updates records immediately as information is gathered and calls are completed. For instance, a customer who makes a payment in the morning can be removed from the call list so that they will not receive a call later in the day.
Same Collector Call back Scheduling
Allows collectors to schedule callbacks as required, with an on-screen calendar to select specific dates and times. The callbacks can be routed to a specific /same collector or any other group of collectors.
Network Level Message Classification
Many debtors change their phone numbers to avoid collection calls. The solution differentiates, identifies and categorizes each network message for every number and record dialed. All information is stored in the database so that it can be easily reported and queried to build new targeted calling lists.
Skills-based Routing
Call routing based on collector skills can give priority to collectors according to proficiency level or other variables.
Powerful Call Blending Functionality
Blending dramatically reduces the costs of maintaining two separate inbound and outbound collector groups. Collectors can move fluidly between both incoming and out-dialed calls, without having to log in and out of programs between contacts.
Benefits:
