Administration: Collection Strategies
Problem Statement: Through the ability to automate the referral process, the Collection Division has reduced significantly the referral entry time (via Ecliptics) and assignment to a collector for the majority of clients; however, for those clients not utilizing Ecliptics or automation, the processing time can be up to 5 times longer. In addition, without uniformity or specific strategies, collectors are unable to efficiently identify the most collectible accounts.
Results: Increase in collections from 2012 to 2013 reflected an increase of $52,489.65. Skip tracing costs reduced by $896.50 from 2012 to 2013. Credit card payments increased during implementation by 422 payments which amounted to an increase of $36,002.05 (August – October).
