July/Aug. 2009

Top 10 Midrange Collection Solutions 2009

Accelerated Data Systems: Inventory Analytics Can Be Accessed Via Multiple Variables

For the midrange collection firm, ADS offers AdvantEdge, which provides user-friendly features in a flexible solution designed to scale up as a company grows. A team of knowledgeable collection industry professionals provide user support. ADS also offers products for creditors and debt buyers.

Benefits and Features

• Application was designed specifically for an open MS SQL database environment. Everything employees need is a mouse click away.
• Inventory analytics are accessible via cross queries by a number of variables: Client, product, balance ranges, collector queues, best time to call and more. Once users have isolated the criteria, they can move documents or export accounts in order to manage inventory the way that works best for them.
• AdvantEdge has built-in functionality to assist debt buyers and sellers in their daily routines. Through integration with Experian, users can quickly receive up to five collectability and/or recovery scores.

What Users Say

"The system is very intuitive for the collections staff," says Stewart Dauman, owner of Vision Financial Corp., based in White Plains, NY. "It's a Windows-based interface whereas many of the older systems are DOS-based. ADS is much more consistent with what people are used to doing. We've been using ADS for five years and are big fans of the software."

Summary
Starting from scratch and on a Windows platform, Accelerated Data Systems created a robust system designed to keep pace with businesses as they grow. Designed to be easily used by all of a firm's employees, AdvantEdge doesn't require users to undergo extensive training or to remember complex keystrokes. The system is flexible and can be configured by users for the way they do business, instead of forcing them to use preferences and fields that apply to other companies.

Accelerated Data Systems
www.accelerateddata.com
303-706-1101

Bloodhound: Automation of Repetitive Tasks Reduces Workload

Bloodhound Software streamlines account handling, enabling users to achieve more results with less work. Internal scoring and workflow management tools ensure collectors work the right accounts in the right order.

Benefits and Features

• The Click-to-Collect feature makes updating records more efficient and enables users to handle more contacts in a shorter period of time.
• Imaging capabilities enable users to scan in or attach documents directly to user accounts. All images of reports created in Bloodhound are stored automatically.
• Real-time management reports are available, including a report that details the number of promises taken and how many were fulfilled.
  The Debtor Web Link enables debtors to service accounts online. Teach agency has control over the page design of the website so that it can match the existing company site.
• Voice recording allows agencies with a predictive dialer to record debtor phone calls for monitoring purposes.
• Predictive dialing is now offered with the hosted solution.

What Users Say

"We've been with Bloodhound nearly 15 years, and what we appreciate the most is their commitment to helping us succeed," says Larry Geier, president of Tri-State Adjustments, Inc., La Crosse, WI. "They listen to what we need and keep us up-to-date with the industry trends and regulation changes. When new technology or software updates are needed, they ease us into it so it doesn't disrupt our day-to-day operation. We also feel that the pricing of the system is very reasonable. And each year they host a well-attended users conference, which allows us to get together with other agencies to discuss the software, future products and other issues that affect our industry."

Summary
Bloodhound simplifies the data entry process by actively searching for matches as the user enters the information on a new account. The application automates repetitive tasks and streamlines the collection process.

Bloodhound Software
www.bldhound.com
800-236-6906

BSI eSolutions: Workflows Can Be Separated and Individually Defined

BSI eSolutions' Cogent software provides a variety of reports to help users manage accounts, customer interactions and payments on a system with open architecture. Users can build separate workflows, enabling the organization of accounts into separate service categories. Workflow processes can be automated with different sets of business rules that are enforced on specific segments of the inventory.

Benefits and Features

• Inventory management is based on user-defined rules that the software enforces.
• An open Microsoft SQL Server 2005 DBMS stores data for analysis to help users refine collection strategies and increase profitability.
• Internal document management/imaging solution generates documents as a result of events occurring on claim inventories. Images of documents are automatically associated with the corresponding claims.

What Users Say

"The standard collections workflow included with Cogent has allowed us to immediately introduce a tremendous level of automation and compliance enforcement into our organization," says Robert, owner of Integrity Receivable Management, Williamsville, NY. "In addition, having control over modifying the workflows in Cogent and being able to quickly respond to new client demands has reinforced our client's desire to want to place more business with us. The combination of business intelligence and technology that Cogent delivers has provided us with the foundation needed to continue to profitably grow our business."

Summary
Cogent is available as a standalone product or in an application service provider (ASP) model. Both are available in standardized and customized versions. The application includes data warehousing and data mining tools that enable users to identify the most profitable claims, progression of costs and reimbursements and trends.

BSI eSolutions
www.bsi-cogent.com
443-212-1028

CDS Software: Navigation Bar Can Be Customized for Best Practices

CDS Software's CollectOne is a single-source debt collection solution. The application enables midrange collection firms to benefit from management work queues, geographic-specific business rules, automatic letter generation, a predictive dialer, bankruptcy verification, credit reporting and a real-time Web-based portal.

Benefits and Features

• Collectors can customize the navigation bar based on preferences, or management can customize the navigation bar for all collectors based on best practices.
• Seamlessly integrates with QuickBooks 2009, so no data re-entry is required.
• Enhanced predictive scoring through a partnership with eBureau (www.ebureau.com)
• Free text messaging functionality through GoLiveSMS

What Users Say

"I've been a CollectOne user for about seven years now," says Liz Capron, owner of Creditors Service Bureau in Niles, MI. "Over the years, the software has allowed me to run many client-specific reports and customize exactly what I want. It also has many great management tools as well as a nice layout for reviewing consumer accounts."

"RGS Financial started four years ago and has enjoyed considerable growth," says Michael Ryalls, president of RGS Financial, Inc., Carrollton, TX. "We started on a competing collection platform and within three months, and after many headaches, converted to CollectOne. We have been very satisfied with the decision and now consider them an integral partner in our success. The CollectOne platform offers simplicity, stability, an open database structure and ample functionality — all with great customer service."

Summary
CDS offers free Webinars, a virtual user conference (in August) and limited free onsite training for CollectOne users. The free training includes one-on-one sessions so that each collection firm can learn how to best use the application for its specific needs.

CDS Software
www.collectone.com
888-816-3333

Columbia Ultimate: Scoring, Costing, Reporting Analytics Help Improve ROI

Collector Logic, Columbia Ultimate's midrange collection application, features business analytics to help identify where a firm's people, processes and technology will generate the best possible ROI.

Benefits and Features

• Business analytics with scoring, costing, reporting and contact intelligence functionality
• Web-based tools give clients online access to account activities and reports.
• Automated work queues for every collector can be customized to a firm's criteria and strategies.
• Detailed management reports can be generated by collector, agency or client performance.
• Call Management Suite, a new integrated, real-time call management system, works seamlessly with The Collector System.

What Users Say

"The thing that impresses me the most about The Collector System is its ability to handle the large database and manage all of the accounts in it efficiently," says Ben Brown, vice president of collections for United Recovery Group, Draper, UT. "Columbia Ultimate has been around the block a few times, and they have a good feel for what I need the software to do. And they have excellent programmers that help me tweak the program so that I can use it exactly how I need to. We have grown a lot in the last two and a half years since we opened our doors. And Columbia Ultimate has been a great business partner to help us along the way."

Summary
Since 1979, Columbia Ultimate has provided collection software that empowers organizations to effectively manage and address challenges. The Collector System is designed to perform all collection tasks. Collector Logic offers a comprehensive and cost-effective collections solution for an entire organization, including collection managers, I.T. staff, collectors, client representatives, the legal department and data entry personnel.

Columbia Ultimate
www.columbiaultimate.com
800-488-4420

Comtach Systems: Scalable System Tracks Information Automatically

Comtech Systems' Collect! integrates different functions. For example, it records a debtor's payment deducts from the debtor's total owing and the client's total owing, adds to the client's total paid, and credits the agency with the transaction, commission and taxes. Collect! saves time with automatic letters, calculations and a high-performance database. The system is scalable to grow with the user's business and includes an easy-to-set-up Web server with integrated SSL security.

Benefits and Features

• Contact management and financial management systems enable users to implement collection strategies according to their business models. Accounts can be sent automatically or individually to different work queues. Users can also track and schedule communications with internal and external parties.
• The multilevel security feature enables users to secure operations based on operator level and type. Collect! has 13 predefined, customizable operator levels; users may add their own operator levels.
• Dozens of reports are available. The flexible report editor pulls information from any field. Users can track and print collector commissions earned.

What Users Say

"I like the scalability of Collect!" says Garry Isham, president of Edward Sloan and Associates Inc., Winnsboro, TX. "It will go as big as you need it, with add-on features and options. It has so many things you can do or run automatically in the nonwork hours. Being in business in this fast-paced and at times even hostile environment of collections, you have to get the most bang for your buck. The bottom line is Collect! provides that."

Summary
The system features ease of use with total integration of functions. Collect! keeps track of information automatically from the time accounts are received until activity is concluded. Reports are instant, and integration provides for seamless and accurate month-end invoices and statements.

Comtech Systems
www.collect.org
800-661-6722

CR Software: Flexible Solution Integrates With Most Service Vendors

CR Software's Titanium ORE controls a firm's IT platform in a real-time, open receivables environment (ORE), enabling the management of large volumes of collections. The application connects with almost any ACH, credit card, skip tracing and letter service.

Benefits and Features

• SOA-based, N-Tiered (System) Framework Architecture provides flexibility in deployment choices from configuration topology to service vendors.
• Security features include the protection of data and data access. Data is encrypted at rest and in transit, so information is protected for even remote employees.
• Work management capabilities include a hierarchical structure to define work distribution (e.g., organization, office, nested department, workgroup).
• Customization doesn't require custom programming, so users can enjoy a tailored system without the issues that go along with custom programming and upgrades.
• Joint accounts enable users to work joint owners interdependently or autonomously.

What Users Say

"We have a very specialized business. We provide services to major retailers. We needed a software and hardware package that would be very flexible in the type of business that we do," says Eric Bergelson, president and CEO of Dynamic Recovery Solutions, Greenville, SC. "We specialize in the collection of bad checks and other debt that are a very specialized need; CR software does all of this for us. They put together a team of experts that understand our business. We expect to grow very quickly, so we also needed a package that would grow with us."

Summary
Titanium ORE's out-of-the-box integration means a company not only has access to the history of sent consumer notices but also of pending notices. Sent notices can be reviewed, and lost notices can be resent. Furthermore, interactive voice response capabilities enable users to reduce operational costs.

CR Software
www.crsoftwarellc.com
800-222-1722

DACKS: User-Centric Interface Enables Custom Automation

DAKCS Software's Beyond.net application includes Intercept, an engine that enables clients to automate processing of various stages in the account flow. Pay Data Center provides clients with a single-payment platform with scoring, electronic check and credit card processing functionality. The Report Scheduler tool enables customers to custom schedule report creation and distribution. Managers can request that reports be generated daily, weekly or monthly, and then distribute them simultaneously to multiple locations.

Benefits and Features

• A new interface to Equifax's Recovery Report provides immediate access to abbreviated credit reports.
• Data access permission and usability include field restrictions to mask sensitive data, as well as an enhanced collector window to increase the amount of information visible on the screen.
• Credit report history is now available for viewing from the collector screen.

What Users Say

"When I came into the business in 1986, I found myself faced with the decision that many have since made relative to what to do about automating our processes," says Frank Fox, CEO of Fox Collection Center, Goodlettsville, TN. "The system offered by DAKCS Software got my attention because of the simplicity of the inquiry screen. The relevance to our operation was a fit. Twenty-three years later, the relationship is still sweet. The DAKCS family (management and support) is sensitive to our needs. They continually monitor industry initiatives so that users are always ahead of the game."

Summary
DAKCS' application provides easy access to data, enabling clients to make changes independently and save on programming costs. The GUI interface provides users with a central control point and management tool. The Cockpit provides access to primary statistical data about clients, collectors, sales and internal data — all in real-time.

DAKCS Software Systems
www.DAKCS.com
800-873-2527

InterProse: Client-Friendly Hosted Solution Offers Virtual Agent

InterProse's WebAR midrange collection system is a hosted solution that enables companies to eliminate hardware and software costs. Internet-based, WebAR integrates inter-business connectivity through a web portal to proactively manage outstanding accounts receivable. It facilitates cost-effective outsource agency account forwarding, tracking and reporting. WebAR integrates with InterProse's Cartographer application, which provides data mapping and conversion between WebAR and third-party systems such as dialers and skip tracing services.

Benefits and Features

• Customizable interface includes Form Builder and Page Builder tools
• Built-in Ammina Virtual Agent
• Client management tools, including client access
• Integrated electronic payment processing
• Automates labor-intensive tasks such as taking payments, making payment arrangements, or issuing account resolution to WebAR

What Users Say

"My clients access the system and add new placements, update demographics, pull inventory reports, verify payments, etc., which has given me the opportunity to concentrate on getting more clients," says Tyson Schaefer, president of Mile High Money Management, LLC, Littleton, CO. "I simply pay for the number of system users, which is directly related to how many clients I have, which is directly related to our total revenue. Almost as important as the cost was the other business relationships InterProse already had and the ones they were eager to establish and build into the WebAR/InterProse system (letter outsourcing, credit card processing, credit bureau reporting, etc). It's like piggybacking on a much larger company and getting their pricing."

Summary
WebAR provides online account management and collection tools to process payments, collect data and improve client relations.

The InterProse Corporation
www.InterProse.com
360-604-3531

Latitude Software: Customized Reports Analyze Processes, Results at All Levels

Latitude software provides users with the ability to create reports that analyze a firm's processes, dialer results and manual efforts at all levels. Exception reporting helps users identify areas of improvement. Custom reports can be saved as templates. Users also have access to collector audit tools to evaluate individual collector performance at the account level.

Benefits and Features

• Users can systematically manage account strategies, compliance, uniform treatment of accounts, exceptions (i.e., first payment default, 90-day delinquency), as well as account movement and batch services.
• The performance dashboard provides real-time performance metrics. The Web-based dashboard can be developed for custom views.
• Pre-built interfaces for collection-related services include "plug-and-play" interfaces for skip tracing, collection and recovery scoring, credit bureau reporting, letter vendors, payment processors and predictive dialers.
• Collector queuing features enable users to link accounts to determine responsible parties and to assign collectors for single-call resolutions. User-defined queuing is available.

What Users Say

"Our company has been on the Latitude system for about five years now," says Mark Thompson, CEO of Enhanced Recovery Corp., Jacksonville, FL. "We chose the Latitude program because of its flexibility. Our company uses a lot of customized programs. Their software allows us to layer in a lot of our customized programming without making any changes to their source code. We also benefit from Latitude's work with our firm on client and vendor interfacing."

Summary
Latitude can be customized as business needs change. The application's open architecture enables users to make modifications without paying for professional services. The Latitude Agency Interface Management (AIM) feature provides integration with Latitude's core collection system.

Latitude Software
www.technologyfreedom.net
866-396-2599