FIELD COLLECTIONS

Field collections are one of the most, if not the most, costly amongst all debt collection activities. Without careful planning, access to real-time debtor information, and transparency in the whole process, efficiency and effectiveness are really questionable. You can now overcome those inefficiencies and perform targeted field visits using our own Field Collections software solution.

Intelligence built-in

It is pretty obvious that coming up with an optimized visit plan which satisfies multiple criteria is not something that can be done manually. Criteria can include all kinds of “distance” metrics, them being the actual distance between points, the time it takes to go from one point to the next, the associated cost, etc. Moreover, “distance” may also include customer or account static attributes (e.g. bucket, past due amount) and behavioral ones (e.g time since last payment, number of broken promises in the past 6 months). The route optimization algorithm of our field collections app takes into account all criteria when determining a visit plan. Clearly, not all criteria are equally important and further, their relative importance (“weight”) varies on a case-by-case basis (financial institution). Our algorithm allows each criterion to be assigned a “weight” based on its perceived importance and employs a “weighted” combination of the criteria to come up with an optimal route.