Collections

The communications stream involved in collections is typically quite routine and follows a standard pattern of escalation. A smooth collections process is based on following a course of well-defined, consistent, and persistent communications.

This is an area in which CDC MarketFirst excels:

Automate collection-notice creation and delivery

Why waste operational resources manually drafting collections notices when core components can be taken care of by CDC MarketFirst? CDC MarketFirst's advanced personalization and conditional-text capabilities enable collections departments to easily generate collections notices with a combination of standard and custom elements.

Plan a full program of timed collections communications

With CDC MarketFirst's advanced workflow designer, collections teams can plan out a standard stream of collections notices sent to all accounts owing, with a consistent escalation pattern and timeline.

Ensure appropriate legal language is used

As with contract communications, collections communications can become time-consuming and expensive if the legal team is required to review all communications for appropriate legal terms and necessary disclaimers and notices. With CDC MarketFirst, most collections communications content can be standardized and approved by legal once, then re-used, saving time and money.

Send account reminders via multiple channels

CDC MarketFirst enables companies to deliver collections notices and reminders via the customer's channel of choice, be it letter, HTML or plain-text e-mail, fax, SMS, or some combination of the above. For accounts in arrears, CDC MarketFirst's multi-channel capabilities make it easy to test alternate channels when primary ones have not been effective.