Call Us Today! (301) 657 . 2084|Marketing@Quantrax.com

COMPLIANCE IN DEBT COLLECTION

Security and compliance – These are arguably the two most important challenges facing the US debt collection industry. With a suite of technology creations that include artificial intelligence-based collection software and a truly integrated dialer, Quantrax has strategically set its sights on software that offers systemic solutions to all of today’s compliance challenges.

Security features deal with access to features and data. Clients are aware that collection companies share resources across multiple projects. Some larger clients will insist that only designated people work their accounts. Access to data must also be restricted based on an individual’s role within the company. Some states require that a collector is licensed in that state before they are 

allowed to work accounts that originate in that state. Information that could be used to steal identities or access financial data must be protected. All of these requirements can be met with well-designed software.

Dialers offer great efficiency with the ability to quickly work […]

 

ADVANTAGES OF USING AN AUTOMATED COLLECTION SOFTWARE APPLICATION

The title may be misleading when you consider that everyone uses computer technology for debt collection. Unfortunately, all computerized systems are not automated systems.
Automation implies that humans have less control in areas that can or should be managed by a computer. Why is this important? Humans are incredible thinkers, but machines win when it comes to doing the same thing over and over again, managing very high volumes, remembering hundreds of rules, when decisions have to be made quickly and when they have to work at night, on weekends or holidays.
RMEx is automated collection software that attempts to make maximum use of modern computing power. Some of the things it will do are :

Place accounts in the right classifications, add different collection costs and analyze the new accounts and make meaningful decisions even before anyone has had a chance to look at the new accounts

Define the reports required by clients and their frequency. These reports can then be mailed, […]

 

DEBT COLLECTION SOFTWARE DEVELOPMENT PITFALLS

Debt collection software has been around for over 25 years. In that time, we have seen major changes in computer technology and application requirements within the industry. After many years of “practice” and experience, why are we facing so many technical challenges? We have more lawsuits and legislators after us, compared to any other period. Our profitability has been affected. Granted, the economy has been a problem, but that was 5 years ago. We have had plenty of time to adjust.
Do we have a problem with technology in debt collection systems? After all, it is the core of our operational processes. We have trusted computers to do more and more of our work each year. Have we done it the right way? No. We believe that our software development process is flawed. We (software developers) have convinced our clients that we can serve them well by providing quarterly or […]

 

Why Settle for Mediocre Collection Software?

Why Settle for Mediocre Collection Software?
You don’t have to with Receivables Management Expert from Quantrax
Why do so many ARM companies put up with mediocre collection software platforms that require a large IT department to manage, patch and customize?  Why are so many collection agencies and law firms using database systems that hail from the late 80’s?  Why do ARM companies using collection software today fear the next “Major Release” or worse yet, their current provider that abandons a legacy platform in favor moving to a new operating system or database application?

The two main reasons for this are fear and complacency.  Fear of the effort required in migrating data from the old system to the new system or the natural complacency that comes with knowing there will likely be a huge learning curve and short term loss of productivity until the staff becomes re-trained and familiar with the new system.  […]

 

Quantrax Collection Software Launches New Website

 

For Immediate Release

May 10, 2013  |  Bethesda, MD

Quantrax Corporation has announced the launch of its new website today.  The new site provides the latest information about the Quantrax Collection Software System as well as current news and collection industry event information.  Visitors can now easily navigate the site to learn about the comprehensive suite of collection software tools and gain access to demonstration videos and training resources for their collection teams.

To learn more about the RMEx Collection Software System, visit www.Quantrax.com today.

About Quantrax Collection Software

Quantrax Corporation has been designing intelligent software for collections since 1991. Based in Bethesda, Maryland, Quantrax supports clients in the U.S and Canada. Its clients work across many industries, including healthcare, student loans and credit cards with configurations up to 1000+ users. For more information or to obtain a copy of their paper “Compliance in debt collection – How your collection software must help”, […]

 

Debt collection software case study

It is unfortunate that collection operations are measured and evaluated based on the number of people they employ! Many years ago, we questioned the wisdom of that approach and set out to create a system that could generate significantly higher numbers for “revenue per collector” as well as low ratios for support personnel compared to collectors. RMEx lends itself to significant improvements in cost reduction, increased management control and gains in productivity, compared with traditional systems. We have analyzed the impact of RMEx and its “intelligent” approach within different collection operations. Based on this research we have considered a 50-user operation to show the benefits that RMEx brings. It is not uncommon to find that an existing 50-user operation can collect as much as they did with their prior system, with a staff of 30 and RMEx. That is a reduction of 40 percent in people costs and if […]

 

Quantrax Corporation Announces the Latest Version of its Collection Software

 

For Immediate Release
April 24, 2013  |  Bethesda, MD

Quantrax Corporation has announced the early release of its latest version of Receivables Management Expert. With RMEx, users now have complete control over managing cell phones, from identifying them in real-time, to calling them based on management objectives (There are separate options for predictive and preview dialing as well as handling numbers with permission to call). Manually dialed calls can be recorded and counted, so state and city regulations for attempts and messaging can be satisfied. Area codes in multiple time zones, states with different times zones and other complex phone number and state combinations are considered when allowed calling times are computed. The user can choose between practical calculations or the most restrictive calling rules. Whether it be licensing, mailing or limiting contact frequency, Quantrax users have complete control at the client, state or city level. The recent “calling home […]