Interactive Collections Communications: Automated Collections Solutions

This report provides an overview of the interactive collection communications available today, such as Voice, E-Mail, SMS Messaging, and "SaaS," for potential buyers in the collections, customer care, and accounts receivable areas will find it helpful in evaluating solutions that reduce costs and improve portfolio performance.

These factors, combined with rising consumer debt, economic uncertainty, and declining business revenues, have resulted in an industry-wide call for increased productivity. But that productivity must come with an eye toward cost and compliance issues. And it must involve collecting from more accounts without adding significantly to overhead.

Features of the Full Report on Interactive Collections

There is a strong business case for Interactive Collections Communications. The benefits of ICC documented in this white paper offer a compelling reason for consideration as well as a very tangible ROI for both medium and large enterprises.

The March is ON: PayStream Advisors’ has determined that while a number of organizations have already implemented some automation solutions around their collections processes, few have addressed the entire process. Clearly these businesses have much more work to do to achieve the full benefit of automation.

With So Many Choices, Where Do We Start? Our analysis of qualified solution providers revealed a sizeable pool of robust solutions. Our research indicates that when considering an ICC solution, most technology buyers are not aware of all the technologies available. By the same token, they are not familiar with many of the solution providers addressing the ICC market. As a result, opportunities are regularly being missed both in terms of process improvement and solution selection.

Don’t Fall Too Far Behind: Companies that rely on traditional collections practices, which are burdened by many inefficient, manual tasks, will find themselves at a competitive disadvantage to companies that have automated collections, and that can therefore better manage their custmer relations and reduce losses from write-offs.

Leverage PayStream’s Technology Insights Report: PayStream’s Technology Insight Series report on Interactive Collections Communications delivers valuable insights to organizations that need help identifying ICC vendors and solutions for further investigation.

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