With the recent economic downturn increasing defaults, the demand for debt collection services is growing rapidly, as is competition.  

Success depends on reaching those able to make payments to clear their debt at the right time. Complying with the Fair Debt Collection Practices Act (FDCPA) and tight regulation by the Federal Trade Commission (FTC) add overhead to operations like never before. Though the debt collection industry is experiencing more opportunity that opportunity comes with ever mounting issues.

Business Challenges

• Strategy– Who do we call for a payment commitment today?  
• Collections – Which agent can collect the most, from what segment, at what time?
• Promises - What are the commitments? Who will pay, when, how much?
• Settlements – How much is recoverable, from whom?
• Finance – What is the current, projected cash flow?
• Operations / IT – Where are the process bottlenecks, inefficiencies? the status of process compliance, COPC / ACA certification?
• Executives – What’s the liquidation status, the inventory state, overall state of the business?

The Q-Collect Solution

Built using QlikView and based on the TEAM’s Q-Framework, Q-Collect provides a single, industry tailored view of business information for the debt collection industry.

Diverse data is extracted and consolidated into a central data repository from systems such as Collections, Accounting, Attendance, Dialers, ACDs as well as budget and planning spreadsheets. This repository contains standard definitions for a set key performance indicators (KPIs). 

Effective KPIs monitor progress toward business goals.  For example, visibility into asset class liquidity ratios can identify collections issues to target initiatives that increase profitability and client retention.  Eliminating low-return asset classes allow agents to focus on more profitable ones.  This granularity helps decision makers implement the tactics that improve collection fee performance.

Debt Collections Business Visibility Experience

Pre-Defined KPIs – Liquidation Ratio (%), Outstanding Principal ($), Cash to Promise ratio, Delinquent Debtors, Agent Productivity & Collection Efficiencies

Customized KPI Dashboards  and Scorecards – CxOs, Customer Relationship Managers, Collection Managers, Sales & Marketing, Finance, Traffic & Scheduling (Call centers) and IT

Pre-Written Analytics – Collections, Productivity, Inventory, Process Compliance

Reports –a self service, user driven approach to visualize critical business information

Q-Collect gives decision makers have the business visibility to satisfy their clients’ need to clear bad debt and debtors’ desire for stable finances.