Collections managers across the globe are given a seemingly impossible task – do more with less. They are required to lower their non-current A/R and DSO levels and at the same time not increase their operating expenses. With tens and hundreds of thousands of customers of varying importance, collection teams are finding it difficult to focus on the most important customers and to achieve their collection KPIs. Without a strong technology supporting the collections team, it will be difficult to achieve these goals.
HighRadius Collections Software automates and optimizes the credit & collections management process to improve collector efficiency, minimize bad debt write-offs, improve customer relationships, and reduce DSO. It provides a complete set of tools to optimize and automate the credit collections management process and enable the better prioritization of credit collections activities All the information you need (invoices, dispute information, POD, claims, tracking info, etc.) on each case is automatically presented in a collections work-space and is ready for use. Apart from the wide variety of benefits that it has, it also comes with some amazing features like CADE (Collection Agency Data Exchange), collector’s dashboard which has prioritized collections worklist, automated dunning & correspondence, dispute management, centralized tracking of notes, call logs & payment commitments along with cash forecasting functionalities. The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO.