|
Area
|
How
Intelec is used
|
Benefits
|
|
Data
entry of new accounts
|
In many
companies, electronic entry of accounts can not be used for
all placements. For accounts that need to be keyed in, Intelec
was used to change the input screens based on the supplied data.
|
30%
reduction in the time taken to key in new accounts.
|
|
Electronic
"scrubbing" of new accounts
|
Many companies
use 3rd-party services to verify addresses or obtain phone numbers
on new accounts. In some cases it is advantageous to obtain
a credit report or collection score prior to working the account.
Intelec was used to intelligently select accounts and determine
the level of service required, based on the account information,
the collectability of the accounts and potential fees. |
By
analyzing each account and calculating its collectability,
users were able to intelligently select accounts and the service
levels needed, thereby reducing costs
|
|
Scoring
|
By using
information obtained using different products and services (electronic
"scrubbing", credit scores, credit reports etc.) Intelec
was able to react, adjust strategy and take action before a
single letter was generated or the account presented to a collector. |
If
the standard plan was to send 3 letters, but an account was
determined to have a low "collectability", the system
would make the adjustment and only send one letter, resulting
in significant savings in mailing costs. Accounts were prioritized
and worked based on collectability. Effort was reduced
on less collectable accounts, resulting in at least a 15%
increase in collections with existing staff.
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Scripting
|
Intelligent
scripting allows powerful scripts be be built at the time of
presenting an account and accessing different areas of the system.
This is significantly different from traditional scripting
which is static. Intelec's I-Script module can be equated to
an expert studying each account and building a script and instructions
for working each account! The scripts can even be set up in
an interactive fashion - The user can be directed and prompted
based on the results of each step. |
Minimal
training and consistent work standards when scripting is applicable.
|
|
Linking
|
Linking
of accounts is critical in any operation. Intelec's "fuzzy"
logic will ensure that more accounts get linked. In most systems
if there is no perfect match on a field (e.g. address) no "points"
are given for that matching criteria. In this example, Intelec's
fuzzy logic could award points even if an address was incorrectly
spelled! |
While
there is a reduction in mailing costs, the true savings are
enjoyed when the linked accounts can be worked as a group.
Our estimate is that increased linking results in there being
3 - 4% less accounts to be managed individually!
|
|
Integrated
dialer
|
I-Tel
is Quantrax's integrated dialer platform. It incorporates what
is probably the best predictive dialer engine in the dialer
industry. Feature-rich and flexible, it is a dialer that was
designed for the collection industry, |
Significant
advantages when compared to a standalone dialer. Additional
features such as call recording and intelligent call monitoring
make this a truly state-of-the-art product.
|
|
Predictive
dialer performance
|
The quality
of a predictive dialer is measured based on the accuracy of
working through the accounts in a campaign, the number of contacts
made, wait times, classification of non-connects (analysis of
SIT's) and abandoned call rates. Quantrax's dialer engine is
arguably the best technology that is currently available and
is backed up by the results
we have seen, |
High
contact rates and low wait times can be produced by any dialer,
based on the way the dialer paces its calls. This will usually
result in high abandoned rates. With our dialer, the pacing
is automatic and abandoned rates will be always be less than
5% (You can set it at less but not at more that 5%). You get
responsible dialing without debtors being inadvertently "notified"
or warned that you are trying to contact them!
|
|
Using
a dialer in a pooled environment
|
With most
systems, there is no method of measuring individual productivity
in a pooled dialer environment. We know who is making the contacts,
but who is really bringing in the money? Intelec was designed
to allow companies to measure individual productivity in a pooled
dialer environment. |
Allows
a user to effectively manage a dialer and to accurately evaluate
the productivity of collectors who work on the dialer.
|
|
Unattended
(agentless) campaigns
|
You can
set up agentless campiagns with or without IVR features such
as TTS (text to speech). |
Allows
you to reach many people using messaging campaigns. With IVR
you can have a call transferred to an agent when a right party
contact is made.
|
|
Time
spent working an account
|
The design
of the collector interface provides rapid access to information,
specially in the case of linked accounts. There are numerous
tools that intelligently manage the linked accounts. E.g. If
an address is changed, the system automatically changes the
same address on linked accounts. |
Less
time is spent on working an account. With Intelec, collectors
were typically able to work 20 to 30 percent more accounts
per day.
|
|
Making
collectors remember to do certain things
|
The collection
industry is filled with rules and procedures that must be followed.
What letters a client specific client has permitted, what letters
can be sent in a specific state or remembering that the debtor
has instructed the collector not to call the place of employment,
are just a few examples. These important areas were completely
automated by using Intelec's knowledge base to store the rules
and warn a collector if needed. Even the process of sending
a Spanish letter to a Spanish-speaking debtor is automated! |
Less
mistakes, less lawsuits and greater productivity.
|
|
"Closing"
accounts
|
In any
company, accounts have to be closed. If this is not done at
the correct time, accounts are overworked at the expense of
others, one of the largest costs in the industry. Intelec
was easily set up to to automate and handle what is usually
a management function. |
In
a typical organization, 80% of a manager's work in reviewing
and closing accounts was eliminated through automation of
this function.
|
|
Account
management
|
The concept
of having the system make decisions on the closing of accounts
was easily extended to all areas of account management. Intelec's
knowledge-based technology will literally allow you to "clone"
your collection experts, allowing their thinking to be used
to review every account when it is worked, or at predetermined
times during the collection cycle. |
The
quality of work is significantly higher. You can now create
workflows that incorporate very high levels of automation.
Overall account management is improved with less management
resources and collection results will improve.
|
|
Payment
processing
|
Intelec
was designed to capture important account information during
the payment entry phase (e.g. address information or bank account
data). A variety of automated distribution options across linked
accounts significantly speeds up the payment process (e.g. by
balance type, oldest account, client priority, commission rate) |
Time
taken to process payments was often reduced by 20 to 30 percent.
|
|
Reporting
|
To accommodate
the different reporting needs of companies, Intelec provides
many versions of the same report in the base package. E.g. There
are about 200 different versions of the popular "Placement
history" report! |
Custom
programming is not required for many reporting needs. Reports
can be e-mailed with no operator intervention.
|
|
Automated
reporting tools
|
At month-end,
a single option can produce a specific report for all clients
set up to receive that report. The standard reports can be printed
as a group, allowing different reports to be printed
together and mailed as a group! |
Significant
reductions in clerical support required.
|
|
System
availability
|
The hardware
platform has a reliability factor that translates to minimal
or no downtime. Intelec does not require a dedicated system
other than for a short period during Nightly Processing. |
Greater
system availability means more work is done.
|
|
On-line
training modules
|
Powerful
training modules that reside on the system and show actual pictures
of screens can be used to educate and train management and new
collectors. |
Collectors
can be trained without significant management involvement.
|
