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Collection Software System

Portfolio Plus Collector:

Reduce your arrears and increase collection agent productivity. That's the value proposition for Portfolio Plus Collector. We all know collection processes can be complex, depending on factors like legal requirements, internal policies, and unique customer challenges. Managing this complexity using spreadsheets and databases is error-prone and slow. Portfolio Plus Collector changes all that. It dramatically reduces administrative overhead. Your collection agents spend more time with customers and less time on paperwork.

Your Unique Workflow for Your Collection Process

Collector Brochure

With Portfolio Plus Collector you define your own unique collection process and rules. We’ll give you advice, of course. But you’re not forced into a new process. This makes Collector easy to adopt because your collection agents work with a process that is already familiar to them. It's simply automated.

Introducing the Worklist: Working Your Collection Process

The Worklist. This is a collection agent’s to do list. It’s a list of debt recovery actions along with the number of accounts at that step. For example: First Letters: 22. First Phone Calls: 86. Title Searches: 18. When the collection agent chooses any one of the actions in the Worklist, the accounts requiring that action will appear. Clicking ‘First Phone Call’ will show you the accounts that require a first call. The collection agent simply works the list, in order, and takes those specific actions. All the information your collector will need while on the phone is provided, including the customer’s account history and past arrangements. Accounts in arrears can be assigned to Worklists automatically or passed to a supervisor for custom assignment. Your Worklists are the hub of the debt collection process.

Customer Retention made Easier

Every customer in arrears has a different story. Your collection agent needs to know that story to effectively manage the relationship. As an example, a customer who’s never missed a payment in 10 years will probably be treated differently than a customer who has missed multiple payments in the first year of a loan.

Portfolio Plus Collector displays an account’s arrears history before your collection agent gets on the phone with that customer. Your collection agents will have the information they need to understand the type of relationship you’ve built with the customer.

Systematic Collection Cycle: Automated Next Step

With Portfolio Plus Collector your collection policy is built into your workflow and reflected in every step of your collection process. And because the system is automated, your collectors will always be following your policy. They will never miss a step. And they will never overlook an account. Portfolio Plus Collector was designed to systematically guide accounts through each step of the collection cycle, automatically updating the Worklist as each activity takes place. As collection agents work their way through each debt recovery action, the system automatically creates history for future reference and creates a subsequent action to be taken at some future date.

Suite of Collection Reports

When it comes to debt recovery, you can never have too much information. Portfolio Plus Collector offers a suite of collection reports, providing you with metrics that will help you fine tune your debt recovery process. These reports break down your call cycle and debt recovery processes. Reports like Aged Debt by Collector, Arrangements and Reschedules, and Promised Payments Report are just a few of the reports you can retrieve from Portfolio Plus Collector.

Integrated Document Management System

Collectors shouldn’t be spending time drafting batch letters. And they shouldn’t have to remember where they stored those letters. With its integrated document management system, Portfolio Plus Collector goes beyond the typical digital imaging features, offering a document automation system that not only produces but also digitally archives every letter, every correspondence, and every note.

Action and Arrangement Features

Actions Screen | Every action should be recorded in one place. This is it. When a collector makes a call, the Actions Screen will provide information relating to all actions taken against a customer’s account, including past letters, calls, and legal matters. With a built in arrangement calculator, it will also let your collectors determine a realistic repayment method by capturing the details of an arrangement—the starting date, the frequency of installments, and the amount.

Action and Outcome | There are only a few possible outcomes when it comes to taking action against an account. So keep it simple. Action and Outcome are two drop down menus contained within the actions screen. They are completely customizable and reduce your outcomes to a few relevant options. When a combination is selected, it’s automatically recorded in the customer’s account history. There’s no need to take notes.

Arrangement History | It’s easy for a debtor to make a promise. It gets the collector off the phone. But it’s just as easy to break that promise. And when an arrangement is broken more than once, there’s a problem. You need to know a customer’s entire arrangement history to know how quickly you need to escalate the collection process. Arrangement history can also tell you if one particular action is more effective than another.

Arrangement Confirmation Letter | Now that you’ve received that promise, try reinforcing it. Portfolio Plus Collector gives you the option of creating arrangement confirmation letters. These letters are customizable, produced automatically, and controlled by the integrated document management system.

Managing The Worklist: Reassignment, Sick Days, and Vacations.

Your troubled accounts can be automatically assigned to Worklists or passed to a supervisor for custom assignment. So, when a collection agent calls in sick or leaves for vacation, a department supervisor can simply reassign the Worklist. It can be distributed evenly across your collection department or reassigned to a particular collector. You choose. The Worklist is the hub of the debt collection process.