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AR Automation Benefits : 6 Reasons to Automate

AR Automation Benefits : 6 Reasons to Automate

Do you struggle to find the time to chase customers for your money? Are you slogging away entering data onto slow and outdated systems? Maybe it’s time to step up your systems and go digital. A manual accounts receivable system is tedious and outdated. It also leaves a lot of room for costly human error. This allows for valuable resources to be redirected elsewhere, making a company more...

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Making the Right Collection Calls

Making the Right Collection Calls

Traditional behavioral scoring has filled the bill for many years by providing a basis for making decisions about which delinquent accounts to call. But with millions of dollars in uncollected delinquent dollars, many financial institutions are supplementing their behavioral scoring approach with action-specific modeling solutions that predict the response to particular actions – such as sending...

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The Concept of Debt Recovery Management

The Concept of Debt Recovery Management

Banks were never so serious in their efforts to ensure timely recovery and consequent reduction of Non-Performing Assets (NPAs) as they are today. It is important to remember that recovery management, be of fresh loans or old loans, is central to NPA management. This management process needs to start at the loan initiating stage itself. Effective management of recovery and Non-Performing Assets...

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Ten Tips to Successful Debt Collecting

Ten Tips to Successful Debt Collecting

Tips on how to collect debt: 1. PREPARE: Review the paperwork on the debtor before making the call. Know the history of the account, credit record, the promises kept/broken. Have all records in front of you, ready for reference. 2. ATTITUDE: Adopt a straight, professional business-like attitude. You have a contract, you delivered the goods, money is owed, and you have a right to expect payment....

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Seven Habits and Rewards of Highly Efficient Collections Operations

Seven Habits and Rewards of Highly Efficient Collections Operations

Imagine if your collection centers knew the best hour of the day to contact each delinquent account. Now, imagine that your calling strategies were intelligently coordinated, consistently executed, and impervious to disruptions. ~ by Lois Brown Imagine if your collection centers knew the best hour of the day to contact each delinquent account. And imagine that you could easily overlay this data...

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Optimizing Receivables

Optimizing Receivables

For every business serious about maintaining optimum cash flow, it is imperative that effective practices be implemented for securing monies owed and curtailing potential debtors. The past several years have seen some troublesome statistics materialize with respect to business debt collections. The statistics are particularly upsetting for small and medium-sized businesses trying to collect on...

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7 Hidden Ways Overdue Accounts Are Killing Your Business

7 Hidden Ways Overdue Accounts Are Killing Your Business

If 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 Out Of Your...

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Collecting Accounts Receivables

Collecting Accounts Receivables

Keys 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 interest that can be charged...

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7 Ways To Consolidate Debt

7 Ways To Consolidate Debt

Borrowers 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 as well. What to Expect...

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13 Strategies to Speed up Collections

13 Strategies to Speed up Collections

Before 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 speed up your collections.1....

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

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

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 delinquent...

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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)

Tel Malaysia : +(603) 8605 3378 | Tel Singapore : +(65) 8211 1152 |
Email : [email protected] | Web : www.kollect.biz