Are these challenge areas for your institution?
Challenge Area 1: Grow productivity while controlling costs (and reduce risk).
Your staff works very hard, executive management demands you do more with less, but you are hampered in where or how to get more done (with the same or less staff); manually doing too many steps, hunting for scattered information, navigating different systems and manually documenting what you are doing is an impossible environment to meet your institutionally assigned goals. Does that describe your environment?
Challenge Area 2: Organize work flow and queues how you want, not comprised to what you must make work.
Are you able to define who you want to work what accounts, or does your current system limit and block efficiency gains? Is defining your desired or required work flows technically possible? Can you create specialized work lists to address unique and special sets of challenges?
Challenge Area 3: Vendor Support, training, system improvement is not your reality
Does your software vendor have knowledgeable staff, able to timely answer your collection system operational questions and issues? Does your current collection system hurt your organizations ability to effectively get their job done? Has your collection system adapted to and changed over the past few years; expanding your ability to get your job done? Is your collection system vendor able to timely and comprehensively offer training on their system?
Challenge Area 4: Manually re-assembling reports or is there a total lack of reporting on what you need to monitor your operation?
Does your team spend too much time manually entering data to "finish" reports; do you spend too much time manually assembling information to complete reports (that cannot be fully automated)? Are you unable to get performance monitoring reports on major/minor account types, branches, loan officers and your collection team?
Challenge Area 5: Help your institution stabilize or grow income is a distant goal
Is extraordinary effort using inadequate tools yielding limited collection results, inadequate recovery results, impacting delinquencies and growing charged-offs; also affecting prior charged-off recovery income?
Challenge Area 6: Improve compliance is a Challenging Uphill Goal
Growing delinquency volume in an increasingly complex environment using inadequate technology makes compliance enforcement "very challenging". Are you even able to monitor that sold, insured guaranteed loan collection steps are done and adequately documented? Are you able to track that your institutions policies, procedures as well as state and federal collection laws are being satisfied?
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.