BillingPlatform releases solution for debt management and collection processes
BillingPlatform, a cloud-based monetization and billing solution provider, is releasing a new platform called the CollectionsCloud, a product built on industry best practices and in partnership with key enterprise customers. The solution combines automated collections management software with an intuitive dashboard to easily configure and manage the entire collections process.
“As a seamless add-on to our core solution, CollectionsCloud provides tremendous value to our customers by reducing the collections cycle and improving overall cash flow,” said Dennis Wall, CEO of BillingPlatform. “This is another step on our journey to create a frictionless customer experience from order to cash. The continued growth of our core capabilities, in conjunction with our underlying platform, position us as the solution of choice for B2B and B2C companies globally.”
With CollectionsCloud, both B2B and B2C users can segment customers based on risk and automate collection and dunning activities, helping to optimize employee productivity, reduce overdue payments and improve cash flow, according to the vendor.
BillingPlatform’s CollectionsCloud allows customers to automate actions with out-of-the-box tasks that trigger when certain thresholds are met.
For high-risk accounts requiring a more hands-on approach, a mix of automated and manual tasks can be designed, implemented and tracked with the easy-to-use interface, and prioritized in the dashboard so collectors do not lose sight of high-priority accounts.
These strategies can include a series of customizable emails and texts reminding the customer of a delinquent payment, a reminder for the collector to call and triggers to suspend or resume service based on payments made.
Key features of CollectionsCloud include:
- Collector dashboard – includes a real-time status of all activities, a prioritized list of actions due for the day requiring intervention and access to the complete customer account history.
- Actions – comes with pre-configured actions (tasks) – email, text, call and notes with the ability to customize other actions as needed.
- Promise to pay – automate promise to pay commitments with the ability to track payment arrangements and automatically trigger workflow based on payment.
- Collections strategies – pre-set blocks of actions that are triggered for an account when pre-determined thresholds are met, such as reaching a certain outstanding balance.
- Manager capabilities – give managers the ability to keep track of a collector’s progress, such as assigning accounts, tracking activity, approving or editing a collection strategy and more.
- Analytics capabilities – analyze data from past collections scenarios to help identify trends, better tailor future strategies and close any gaps in the collections process.
For more information about the release, visit https://billingplatform.com.