Business Software

Collection business software has traditionally been constrained by ineffective or outdated methods of debt retrieval. But given the current economic climate many are reevaluating the way debt is settled with customers. Companies are feeling the squeeze and so are customers, so collecting debt while continuing a relationship is paramount to a successful company.

Offering help with this delicate process is Pegasystem’s new collection solution, which is designed to collect debt intelligently while preserving an amicable customer relationship.

The software offers a combination of business process, case management, customer relationship and decision management solutions that effectively and uniquely manage each collection case.

According to the official press release these “capabilities ensure a holistic, customer-centric approach to managing collections.” The result is a higher rate of acceptance and customer satisfaction as well as a reduced operational cost for the company using the software.

Pega Collections, which leverages Pegasystems’ (News - Alert) Build for Change technology, provides a new approach to the collections process, helping organizations rapidly identify the most likely option that will facilitate a positive collection result and present it to the collection agent at time of interaction. 

The software achieves this balance in a number of ways. First of all it offers real-time scripting to agents, directing them in the decision making process based on a customer history and optimizing each outcome. The platform also maintains an overhead view of each customer with stats from previous interactions, and notes for complaints or guarantees issued to or from them. Routing can be derived from these records, making sure that the customer gets to a familiar agent if desired or to a higher level of the contact center if escalation has been a previous concern. Information collection is automatic as well which eliminates the need for the customer service rep to maintain all of the information.

Customer adherence is a sticky subject when it comes to debt management, with efficiently kept records and call center scripting there will be more room for collection agencies to satisfy and keep their customers.

Chris DiMarco is a Web Editor for TMCnet. He holds a master's degree in journalism from Quinnipiac University. Prior to joining TMC (News - Alert) Chris worked with e-commerce provider Suresource as a contact center representative and development analyst. To read more of his articles, please visit his columnist page.

Edited by Chris DiMarco