Overview

Making Software An Asset For Compliance
One word that could be used to describe today’s compliance environment for collection professionals is inhumane. The irony is this concept has been embraced by placing some of the burden of compliance on the nonhuman counterpart of the modern collection professional: software. Collectors have relied on software for consistent reminders of regulation and the ability to remove possibly lawsuit inducing phone numbers from contact lists. Bill Ozuna, partner at ICA, notes how software helps the daily routine of collections. He mentions a Question of the Day function in particular. The system presents a question to collectors on the floor every day as a reminder of key operation protocols.

ozuna bill“In giving our collectors questions that will keep them sharp on new regulation it will assist us in staying within the laws we are governed by,” said Ozuna.

Software vendors must work to not only keep up with current regulations, but find a way to translate the requirements into processes that can be implemented electronically. Matthew Hill, president and CEO of The InterProse Corporation explained their process to help keep collectors compliant.

“We annually renew our audits such as our SASE 16 and PCI-DSS certifications to insure that as changes in policy occur we can be proactive in meeting new security and compliance requirements,” said Hill.

Unfortunately compliance cannot be allocated to the pushing of a button or upgrading to the latest operating system. The process includes a great deal of communication with the vendor. The foundation of this communication begins with an extensive interview with potential vendors to see if their particular flavor of software compliments your agency’s efforts.

hill matthew“Make sure the software provider you choose is backed by best practices in software design and infrastructure (data center) standards,” said Hill. “Ask your prospective software provider about the certifications they maintain.”

Once the selection of a vendor and product is complete it is all about commitment. The faint of heart need not apply. In order to avoid leaving any money on the table, an agency must utilize all aspects of the software to get the maximum benefit.

“I strongly suggest collection professionals look to integrating collection software into their company so they have their accounts maintained with the aid of date stamping to keep an audit trail and have the ability to allow their clients to log in and keep instantly updated on accounts they want to follow closely,” said Ozuna. “The sky's the limit when a collection company takes advantage of using software to work accounts. It not only keeps all records straight, but also assist in giving clients the ability to follow how their accounts are being worked.”

Reviews

Compliance with FDCPA and FCRA
Ajility

• The graphical user interface can lower training costs and reduce trouble-shooting.
• The real-time workflow systems perform routine tasks so users can focus on collecting.
• Compliance with regulations such as FDCPA and FCRA is built-in and verified.
• Configurable business rules allow users to change processes when needed.
• Users can establish a comprehensive disaster recovery infrastructure.
• The hosted SaaS solution includes electronic protected health information (ePHI).
• UltimateContacts also includes automated voice messaging, text messaging, and call recording.
• Users have ready access to realtime data.

What Users Say
“Having reviewed or worked with the major collection software platforms, I am most excited about Columbia Ultimate’s Ajility platform,” said Don Taylor, president of ACSI. While all software requires a degree of customization to fit individual needs, Ajility’s is built on a solid, feature-rich architecture that supports our competitive advantage.”

Ajility | Columbia Ultimate
columbiaultimate.com | 800-488-4420

 

Modify User Interface to Suit
Artiva RM

• System is integrated with SaaSbased Contact Savvy contact management solutions, and provides scoring and segmentation for portfolios.
• The User Interface can be modified based on specific needs.
• Reports can be tailored to suit particular business needs.
• Users can design and automate workflows to ensure rapid response to changing business conditions, including growth, regulation and service demands. The system’s capacity to create a standardized mode of working allows users to work accounts with more consistency and compliance.
• The users’ database can be extended with a user-configurable toolset.
• Features electronic payment processes, client/vendor statements and invoices, and historical transaction auditing.

What Users Say
“Artiva has provided us with the flexibility to grow and serve clients that we previously would not have been able to based on today’s stringent requirements of our clients,” said Ernie Pollak, president and CEO at NES. “As our client’ s demands increase, Ontario Systems and the Artiva platform allow us to be agile and conform to their needs.”

Artiva RM | Ontario Systems
ontariosystems.com | 800-283-3327

 

Customized Collector Work Screens
Beyond

• The advanced inquiry and query builder allows users access to specific information for collection.
• Users can build reports based on information queried allowing export and review in various formats. Reports can be queued for delivery on a daily, weekly or monthly basis.
• Features customized collector work screens specific for particular debt types.
• Business and workflow capabilities can be implemented and maintained for each user and job function.
• System managers can add and associate files to the database, helping operations and giving users the ability to meet changing client needs.

What Users Say
“What I like most about DAKCS/ Beyond ARM Software is the ease of creating reports using the Advanced Inquiry and Query Reports,” said Fran Graham, collection service division at CB Bessemer. “Our account volume is 90% medical placements. The flexibility of creating reports using system tools like the Report Designer help streamline our medical accounts for more effective collection work. Beyond ARM has saved us time and money, and not to mention the great compliments from our clients when they say ‘Job well done, CBBI.”

Beyond | DAKCS
dakcs.com | 800-873-2527

 

Identify Duplicate Consumer Records
Bloodhound

• The debtor screen can be personalized to include all the information collectors need on one screen.
• Auto-Collect keeps accounts prioritized to be worked based on the agency’s desired workflow.
• Features over 70 standard reports that provide data on collector activity and profitability.
• A Matches screen helps users identify and eliminate duplicate consumer records.
• Debtor Web Link allows consumers to view and pay their bill online.
• Permission controls allow collection managers to specify what employees can see and do in the system.
• Commission rate setup can accommodate multiple types of different rate structures.
• Users can add files to the consumer records including scanned correspondence, PDFs, Microsoft Word documents, call recordings, and emails.

What Users Say
“We especially like the automation processes available through Roydan’s software solutions,” said Karen Street, operations manager at Debt Collection Partners. “Having everything from checks, statements and emailed reports in an electronic format is a great benefit.”

Bloodhound | ROYDAN
Enterprises roydan.com | 888-236-6906

 

Multiple Language and Currency Capabilities
Collect!

• Users can link accounts on import, in a batch or at will.
• Accounts can be allocated to work queues automatically or individually.
• Features multiple language and currency capabilities.
• Report editor can pull information from any field.
• Report in XML, HTML and RTF, CSV, fixed length ASCII.
• Batch print letters, labels and envelopes.
• Automatic checks to ensure collector account follow up.
• Users can search database by name, phone, action, status, and listed date.
• Process changes to account information in a batch.

What Users Say
“What impresses me more than anything is that the company is always asking what can be changed to make our work easier,” said Bill Ozuna, partner at ICA. “This not only comes from tech support or sales, but from the owner as well. As small as our company is, Collect! still takes the time to ask us, ‘what can we do to make your work and life easier?’ In today's world, that is rare.”

Collect! | Comtech Systems
collect.org | 800-661-6722

 

Associate Scanned Docs to Debtor Accounts
CollectOne

• Features performance tools for management team and account representatives productivity goals. Collection managers can assign top down goals and assess real-time performance statistics.
• Users can automate the management of account specific letter series. Establish letter-printing intervals for each letter based on prestructured business rules. All letter distributions are automatically noted to the debtors account.
• Identify responsible parties with multiple accounts. Scrub responsible parties associated with new accounts against existing accounts.
• The web-based portal allows secure monitoring of collection activity in real-time and can view posted reports.
• Users can associate scanned and electronic documents to debtor accounts. Print documents and send them via email or fax. Import multiple documents to a single account or multiple accounts.

What Users Say
“CollectOne gives us the tools we need, as well as some features that we wouldn’t have considered that have helped us immensely,” said Natalie Mansour-White, senior vice president of operations at National Commercial Services. “CollectOne keeps our collectors productive, working the right accounts.”

CollectOne | CDS Software
collectone.com | 888-816-3333

 

Lock Accounts to Prevent Changes
Debt$Net Power

•Upon logging in, the collector can view figures for monthly goals set by management via the new Collector Goals and Welcome Screen.
•The Complaint Management system allows agencies to manage all complaints received in a central location, schedule and plan follow up actions, track contact and attorney information, record and manage complain resolution, and includes multiple reports for tracking purposes.
•Specific status codes or individual accounts can be locked to prevent changes either manually or by automated processes.
•Client and Collector Rankings identify top performing clients and collectors based on month-to-date, year-to-date, and total-to-date activity figures.

What Users Say
“We have used The Computer Manager for over 15 years,” said Ellen Ahlers, collection manager at Professional Choice Recovery. “They have the features available to develop modern compliant collection agency software packages. Additional options are available to mold the system to individual agencies standards. Their custom programming has enhanced our system to our unique requirements. Their customer service is excellent and they are open to suggestions that will enhance their products for the future.”

Debt$Net Power | The Computer Manager
debtnet5.com | 800-552-8397

 

Student Loan Module for Private and DOE Loans
Interaction Collector

•The system is a browser-based workstation capable of managing a debt lifecycle from early-stage delinquency through post charge-off.
•Features student loan module for private and Department of Education (DOE) loans. Capabilities include loan rehabilitation, loan consolidation, administrative wage garnishment and integration to www.pay.gov.   
•Features a configurable, rules-based strategy engine that includes automated business workflow logic.
•The account analysis and query tools give detailed agent skill assignments, as well as granular, customizable data views.
•Features customization and configuration tools that enable customers to modify their collector desktop, workflows and reporting.
•Features Integration to primary loan servicing systems that enables accounts to be transitioned into and out of early-stage delinquency.

What Users Say
“In such a competitive industry, our Interactive Intelligence collection solution has been instrumental these past ten years,” said Marian Sangalang, vice president at The Bureaus, Inc. “Its ability to securely communicate and pass critical data between our service providers is paramount and can’t be understated.”

Interaction Collector | Interactive Intelligence
inin.com | 800-267-1364

 

Includes Early Out Functionality
Lariat

• The platform includes a collections core, a client portal, a s ales CRM, and a web service API for enterprise integrations.
• System can be used for first party collections as it allows for early out account work. Users can create letters with client letterhead.
• Enterprise tooling such as a business rules engine and bulk automation allows users to customize the software to their business practices.
• Provides a range of administrator defined commissions, fees, payment priorities and aging schedules.
• System allows collection managers to set global configuration parameters for themes, security, and reports among other defaults.
• Has the ability to handle multiple debts owned by multiple clients for a single debtor.

What Users Say
“The Lariat system is an easy to use system that can be customized to fit your needs, such as status codes, fee types, phone field types, dialer response codes, commission schedules, letters, etc,” said Richard Rainho, chief compliance officer at Kinum. "Lariat boasts one of the best and most powerful tools I have ever used in the market that allows you the ability to customize reports you can run on demand or have scheduled.”

Lariat | Lariat Software
lariatsoftware.com | 877-268-6667

 

Configurable Collector Worklists
SimplicityCollect

• Includes online document storage and generation.
• Features credit report pulling and processing capabilities.
• Includes configurable collector worklists.
• Integrated Reminder System.
• Features auto-dialer integration.
• Can be installed locally or hosted as a service.
• Includes unlimited custom fields.
• Features standard and legal reports as well as custom reporting.
• Tech support can be given via phone, email, and tickets.

What Users Say
“I own a collection agency and after having trouble importing my new business, I contacted Simplicity tech support and they immediately assisted me in fixing my own internal problems,” said Michael Martinez, owner of RPA and Associates. “The support rep worked on my account until after 10 p.m., long after closing time. I don’t know of any business that will work those types of hours just to accommodate their clients.”

SimplicityCollect | Simplicity Debt Collection Software
simplicitycollect.com | 866-791-0224

 

Create Reports for Business Management
WebAR Small Business

• The layout features shortcuts, logging and an accessible toolbox.
• Action Paths works in real-time to get the right account to the appropriate treatment at the right time. Users can build processes to match their needs whether scheduling letters, queuing up for a collector to call, requesting data enrichment, or sending to a telephony campaign.
• Features integrated account scoring and skip tracing through LexisNexis
• Balancing back to the user’s bank and merchant account can be made easier by WebAR’s ability to provide a single point for reconciliation of all payments, regardless of source or type.
• The integrated SQL report designer provides tools for creating reports for business management and client relations.

What Users Say
“We have found it meets/exceeds our needs, and has really helped increase our productivity and increase our collections,” said Jim Rowley, director of revenue recovery at Rent Dynamics. “One part of our success has certainly been the team… Each has been very valuable to us through our transition. You have a good product, a great team, and we are pleased to be using your services.”

WebAR Small Business | The InterProse Corporation
interprose.com | 360-604-3531