EVPs, SVPs and VPs
Are these challenge areas for your institution?
Challenge Area 1: Reduce Collection Compliance Failure Risk
Are you seeing/are you aware of sold, insured, guaranteed loans tighter collection scrutiny? State and Federal regulators are placing high emphasis on collection compliance. The work volume growth and the increasing complexity of work exasperated by these tighter scrutiny's can be extremely concerning, as the cost of compliance errors can be significant. Would it help leveraging powerful technology enforcing your rules and processes, using automated documentation to help protect your institution?
Challenge Area 2: Protect and Grow Income, Prevent Charged-offs
Is reducing delinquencies, preventing some charged-offs, lower operating costs leveraging powerful technology working the right accounts in the right sequence, with more frequent debtor touches collectively protecting or growing income important to your institution?
Prior charged-off recovery revenue may be lower than budgeted. Is knowing who best to work, freeing staff time for more recovery efforts and applying powerful technology to recovery efforts stabilizing or growing recovery revenue a key goal of yours?
Challenge Area 3: Collection Cost Reduction, Productivity Gains, Improve Control
Is your collection and recovery operation vulnerable to hunting for (or re-assigning) miss-assigned accounts, missing scheduled or required tasks, or manually completing things that can or should be fully automated? What capacity growth are you missing through inferior technology, missing work potential and exposing your institution to unnecessary risk? Do users see a full debtor profile at one glance, completing major steps with a single click (and not hunt, peck, search and do many steps), with unacceptable or deficient documentation?
Challenge Area 4: Collection, Recovery Portfolio Reporting
Is Executive Management delayed from getting access to information; as your team manually updates statuses? Do you or your team spend too much time manually assembling key reports (that should be an automated by-product of "doing the job")? Are you limited in performance monitoring of; major/minor account types, branches, loan officers or your collection team's capabilities? Would timely accurate and unrestricted reporting improve Executive Management's ability to steer your institution on the right course?
Challenge Area 5: Current Collection System Status
How long has it been since your collection system received a vendor system update? Is your institution constantly frustrated at the lack of competent response from your vendor to your operational support challenges? Are you using work-arounds, band aids to circumvent constraining limits of your current system? Is your team feeling an exaggerated push from the economy due to inadequate tools to do their job?
If any of these challenge areas pertain to you, if they are concerning enough to do something about them, call (603) 410-5710 or email us so we can spend a short evaluation time on the phone and we can collectively determine if we can help.