Continued best practices

(Wednesday, 25 June 2008) Written by Graham Parry

Finally I am continuing this blog.... Many of our clients at the moment are concerned with preventative collections .... A very valid concern... Various studies have shown that preventative collections does improve your bottom line in certain cases with specific characteristics. HOwever at the moment lots of our clients want to do preventative collections without having put their normal arrears collections in order... What do i mean by this?   Are you covering the whole volumen of clients in arrears ? If you do not have the capacity to collect or at least try to contact all of your clients in arrears every month , how can one expect to include preventative collections aswell.... ?   Have you got a well defined target group that you want to do preventative collections with? This volume should not be more than 10 or 25% of the volume of your clients in arrears..... HAve you performed a pilot and were the results positive?

Best Practices in Collection

(Tuesday, 10 April 2007) Written by Graham Parry

After working in the implementation of collection systems in 3 continents (North America, South America and Europe) one of the recurring problems encountered has been the lack of the implementation of best practices in collections. Over the years working in both AMS and Financial Systems Company I have constantly had to address repeatedly the same issues over and over again in the implmentation of collections software. Most issues in fact had nothing to do with software and systems but rather the lack of knowledge and/or the implementation of operational best practices. During the following posts in this blog I will explore cases (no names for obvious reasons) and give examples of some of those best practices...