DRS for Front End Collections
Most major issuers continue to see an increase in delinquency and bad debt, and face intense pressure on improving recovery efficiency and effectiveness (i.e. lowering operating expenses). This pressure leaves credit organizations facing a variety of challenges in a very fast paced environment, often with the recovery staff operating at more than double the industry average accounts per collector. We recommend licensing the DRS (Delinquency Recovery System) as part of an overall solution to revolutionize your debt management capabilities and drive improved responsiveness, productivity and effectiveness.
The DRS is a comprehensive accounts receivable management licensed solution for all types of credit products that delivers higher ROI through a blend of higher collection revenue, lower operating costs and strong customer and employee engagement. Our licensed solution is specifically designed to address today’s complex economic, regulatory and compliance challenges while providing a highly configurable modern architecture enabling your organization to adapt to portfolio or business-specific changes more timely and effectively.
With this licensed solution, the DRS can provide for an integrated ‘one stop shop’ for your enterprise with:
• Front end data import software solutions for uploading financial, insurance, real estate, legal and collection system activity (in either batch, near real-time, or real-time)
• Front end data input software solutions, with user-friendly GUI screens, for financial, insurance, real estate, legal and collection systems
• Customer locate (skip tracing) software
• Insurance tracking software
• Document imaging software solutions, for both inbound and outbound documentation – and via a wide variety of mediums (e.g. paper-based, SMS, emails, etc.)
• Real estate and property management software solutions, for secured products
• Customer cure software and strategies/workflow
• Point-of-sale software for financial transactions (e.g. payments)
360⁰ View of the Customer Relationship
- Easy access to a complete view of the customer by linking products and delivering a consolidated profile view and thereby ensuring the agent servicing a particular account has full visibility into the indebtedness of the customer.
- Leverage comprehensive customer information in any process, workflow, decision or strategy.
Make Smarter, Faster Decisions with Advanced Analytics and Automate Workflows
- TECHCOM’s integrated database and reporting capabilities provide comprehensive analytics to make decisions, automate rules and workflow, and optimize resource use or customer treatments.
- Segregate accounts using TECHCOM’s powerful inventory management tools, automatic distribution, redistribution of accounts and many other types of workflow options.
- Flexible business rules and event-based triggers optimize collection and recovery workflows in real time.
Improve the End User Experience and Propel Their Performance
- Intuitively designed and feature-rich screens and menus are coupled with ‘point and click’ navigation to deliver a positive and productive end user experience.
Get an Edge with Dynamic Real Time Reporting
- Comprehensive real-time reporting provides immediate insight into key business functions and the ability to dynamically action the results.
- A broad set out of box business activity and performance reports specific to collections and recovery.
- Access to an intuitive query tool where all data fields can be used to create customized reports (either adhoc or saved queries).
Paperless Made Easy, Audit Trails and Compliance
- Streamline content management of all documentation, letters, emails, texts, voice logs, etc. associated with the customer’s account, all stored at the customer level for easy access.
- Robust audit trails so you know what happened and when, including user name, date and time stamp details.
- Unified rules driven platform for managing regulatory and compliance details.
Seamlessly Integrate Value Added Services
- A full suite of Value Add Services is fully integrated into the DRS and can easily be requested in real-time by the credit organization and incorporated into any collection workflow or strategy (e.g. credit bureaus, payment probability scores, data scrubbing, etc.).
- ‘Point and click’ access so you don’t need to go and retrieve the Value Add Service from another system.
Scalable, Available, Flexible and Integrated
- Ability to support any type of retail consumer lending product.
- Our hosted solution ensures your team has access when and how they need it…secure, compliant, uninterrupted, 24-7-365 monitored, and DR-BC ready.
- Fully functioning product system, that is, a billing/receivables management system supporting workflow driven by action based triggers across multiple users, including payment processing (e.g. clearing houses) and letter or form management.
- Configurations can quickly be performed by authorized business users via dynamic self-serve admin options.
- Can be integrated into host systems and any TECHCOM industry leading solution enabling for the upstream and downstream exchange of high volume customer, account and payment related data in near real-time or in batch, including:
- TECHCOM DSW, a dynamic decisioning, segmentation and workflow engine providing organizations with advanced decisioning capabilities for credit adjudication and credit line decisions, pricing and account management and collection activities.
• MarketMax and/or Campaign Management.
• Dialer, IVM, IVR and Call Capture Capabilities
• Email or SMS Correspondence Management
• Customer Self-Service Web Portal, Click for Call Back, Online Chat, Online Surveys or Complaint Management
• Value Add Services for Bureaus or Data
• Business Intelligence