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Collecting Accounts Receivables

Source: Small Business NotesKeys to collecting debt legally and successfully include preparing a policy and procedure manual and a credit application form. A measured approach to debt collection is better in the long run than immediately going to a collection agency or court. Consumer credit laws affect preliminary debt collection methods, while the Truth-in-Lending Act regulates the amount of...

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7 Ways To Consolidate Debt

Source: investopedia.comBorrowers who seek to consolidate their debts today have more options than ever before. Student loans, credit cards, car payments and other types of debt can be moved around in many different ways to get ahead of the curve. Knowing the pros and cons of each strategy can help you determine which path is best for you and save you thousands of dollars – and your credit score...

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7 Hidden Ways Overdue Accounts Are Killing Your Business

By: Angelo LoanidesIf you're like most kiwi business owners chasing overdue accounts is an ugly time consuming monster you'd rather never have to deal with. It's right up their with preparing tax returns and firing staff.Now as hideous as hounding people for money is, there are seven hidden ways in which your overdue accounts are killing your business.7 Deadly Debt Drains Bleeding Life And Joy...

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13 Strategies to Speed up Collections

Source: Credit-to-Cash AdvisorBefore the Money is DueEveryone doing business knows that a sale isn’t a sale until the cash is in your bank account. Getting it there when you need it, however, can be a real challenge.Most companies wait until an invoice is past due before taking action. But why not be proactive?Here are some strategies you can use before the account is due, that can help you...

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Accounts Receivable Collections: How to Get Late-Paying Customers To Pay On Time

 A year or two ago, your business was probably running pretty smoothly, with sales and profits growing. And then the recession and credit crunch hit-a brutal double-whammy- and everything started slowing down almost overnight, including your accounts receivable collections.~ by Gene Siciliano Whether commercial or consumer, your customers started paying your accounts receivable later and later,...

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Five Ways to Improve Collections in the 21st Century

  With billions of delinquent dollars still uncollected around the world, collection centers are searching for new, more productive and profitable ways to pursue overdue accounts. In this quest, many companies have re-evaluated long-held beliefs and have actually found that some of these assumptions are restricting—rather than promoting—their success. ~ by Lois Brown With billions of...

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About Kollect Systems

Kollect Systems is an innovative tech platform provider in Collections, Debt Recovery, Agency, Legal and Repossession management. In the areas of Banking, Credit Cards and Lending operations, Kollect provides KollectApps (BankTech) software solutions which leverage AI based decisioning and workflow technologies to help perform Collections & Debt Recovery processes automation better. For Hire Purchase and Leasing companies, Kollect provides KollectRepo  (BankTech) to enable the ecosystem for lenders, repo agents, store yards and auctioning advance process automation. And for mid-size to large scale enterprise companies, KollectValley (FinTech) is used to automate Receivables Collections, Notifications, Reminders, Segmentation & Risk Scoring, e-Invoicing, Customer Portal & Online Payments better.  Kollect’s solutions in summary are as follows  :

  • KollectApps(BankTech),
  • KollectRepo(BankTech) and
  • KollectValley(FinTech)

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