Debt recovery CRM (Customer Relationship Management) software is a specialized software solution designed to assist businesses and organizations in managing the debt collection process. Here are some basic facts about debt recovery CRM software:
The goal of debt recovery CRM software is designed to assist businesses and organizations in managing the process of collecting unpaid debts from customers. It accomplishes this by automating tasks, providing analytics and reporting, and improving organizational and compliance management.
Automated reminders, payment plans, credit reporting, integration with other systems, compliance management, analytics and reporting, customizable workflows, communication management, and dashboard and alerts are all common features of debt recovery CRM software.
Debt repayment CRM software can be integrated with accounting software and other financial systems to automate debt collection and reduce manual data entry.
Debt collection CRM software, by automating compliance checks and providing compliance reporting, can assist businesses in remaining compliant with debt collection laws and regulations.
Debt Recovery CRM software can be tailored to a company's or organization's specific debt collection workflows and processes, ensuring that the software meets their needs and requirements.
Debt recovery implementation CRM software installation typically entails installing the software, importing customer data, configuring workflows, and training users.
Overall, debt recovery CRM software can assist businesses and organizations in automating and streamlining the debt collection process, thereby increasing efficiency and effectiveness. It can offer a variety of features and benefits to assist businesses in increasing collection rates, providing a better customer experience, and remaining compliant with debt collection laws and regulations.
Bucket your borrowers based on every important criterion – Date Past Due (DPD), credit repayment history, the amount due, repayment intent, and more.
Area / Pin code / bucket wise allocation in 5 mins
A single platform to manage all your collection activities, generate MIS , track PTP stock & negative codes, manage customers follow up and much more....
Re Allocate/Delete multiple cases with clicks
You can reassign/delete loan accounts from portfolio / buckets to maintain your ECR/ACR or advised by bankers time to time with ease.
Automatically distribute cases to agents based on any criteria you want – loan type, location, default amount, agent availability, agent performance, and more.
Professionally controlled PTP and PTPDT procedure for the users including the reminders.
Managing PTP and PTPDT records for the working users on the system, and setting reminders by checking records on daily basis....
Creating and managing PTP and PTPDT records
After disposing trail as PTP (Promise To Pay) and by selecting the future PTP date while creating trail system punches the records for that PTP date and set the reminders according to all available PTP records according to the logged in users. A notification popups on the respective PTP date which reminds the Tele caller that this user has promised for the payment on the day.
Define a collection strategy for your business based on borrower stage & actions. For example, when an account is over DPD, GTECH can notify the field agent to visit the defaulter.
This software manages the payments whether it is PAID collection received by the Field collector or ONLINE PAID collection received by Tele caller through call, all such payments are managed together.
Creation
Easy payment posting procedure posted which runs along with making the trail disposition for the payment collected. Procedure is to just select the type of payment whether it is in cash or it is in Cheque/DD/Online Transaction etc. and then selecting the respective code for the disposition selecting from ONLINE PAID or PAID.
Payment posting is done by both Tele callers and Field collectors from system and from use of app. System sets the notification on the Tele caller screen if the payment has been collected by his on field working Field collector. Payment is managed by the recon users by creating the schedules for respective collections made.
Automatically move borrowers through different stages – first contact, onboarding, segmentation, debt recovery, and case closure.
Managing Payment Reports
Payments reports are generated after final approval from Tele caller and Recon user. Payment reports are managed in below reports.
Notifications and Alert on receiving the payments.
GTECH makes it easier for you to track all the live and recent payment received by setting up Alert and notifications.
Alerts & Notifications
Live notification pops up if any on field collector mark any loan number as PAID or ONLINE PAID. This will help Tele caller to make quick actions regarding the collection received
Integrate all your call center, email, WhatsApp, Auto Chat & Voice Boat and other communication channels with GTECH Ensure a seamless & connected borrower experience.
Alerts & Notifications
Live notification pops up if any on field collector mark any loan number as PAID or ONLINE PAID. This will help Tele caller to make quick actions regarding the collection received
Automatic and manually loan dispositions
Making it easy to create bulk dispositions and single disposition using different sources like uploading excel or manually inserting disposition details....
Creating disposition manually
A friendly software environment to created dispositions manually with complete overview of the loan details on the same page and also provides the case history for all the dispositions created with an editable disposition functionality.
Software that provide recon disposition along with the Tele caller’s and Field collector's dispositions.
Creating recon schedule of all the collections
Creating the schedule by the Recon users for all the Loan Reconciliation available.
Creating disposition manually
Recon schedule is created on daily basis which is managed by the recon users only. Recon gets the report of all the collection received recently and make the schedule accordingly. Creating Loan Reconciliation also helps to know the everyday collection received by the complete team whether they are paid in cash or through other sources.
Gtech can automatically plan your collections agents’ day, including collections meetings in order of priority, best routes to follow, goals for the day and more.
Track all your call center, field & support teams on a single dashboard. Get complete visibility into your collection operations.
Improve Your Process with Analytics
Derive insights on borrower profiles, agent performances, active liabilities, pending payments, ongoing payment activities, and more.
Notify collections agents when they are assigned a borrower. Do this via email, SMS or any other communication channel.
Integrate & track all your payment collection methods with GTECH. Get detailed payment reports of integration.
Live tracking system to track the Field collector's location on daily basis
Accurate and pin pointed location tracker for getting the daily report of all the on Field collectors including their visits details and traveling distance details.
A professionally developed app for only Field collectors which support logins of all valid and available Field collectors. This helps in tracking the every minute location of Field collectors once they marked their attendance for the day. Marking attendance is important as it will make their days working status as Working
Integrate with all the tools you use & love with ready-to-use APIs, connectors & an extensive developer platform.
Everything your agents need to know about a borrower. View borrower info, previous conversations & activity history.
Customizable Reports
Generate custom reports of borrower profiles, agent performance, collection funnels, and more.
A debt collection CRM (Customer Relationship Management) software assists businesses and organizations in managing the collection of unpaid debts from customers. The following are the fundamental steps in the operation of debt recovery CRM software:
The first step is to import customer data into the software, which includes information such as the customer's name, contact information, and outstanding debts.
The software automates many debt collection tasks, such as sending reminders, setting up payment plans, and tracking payments. This saves time and cuts down on the amount of manual labor required.
The software can handle all debt collection communication with customers, including emails, letters, and phone calls. This helps to keep customers informed about their debts and payment options.
Customers who are unable to pay the full amount owed upfront can set up payment plans using the software. It can also track payments automatically and adjust the payment plan accordingly.
The software can notify credit bureaus about the status of unpaid debts, which can affect a customer's credit score and incentivize them to pay their debts.
By automating compliance checks and providing compliance reporting, the software can assist businesses in remaining compliant with debt collection laws and regulations.
The software can be customized to match the unique debt collection workflows and processes of a business or organization.
Overall, debt collection CRM software works by automating and streamlining the debt collection process, providing a centralized platform to manage debt collection activities, and providing a variety of features to assist businesses in increasing collection rates, providing a better customer experience, and remaining compliant with debt collection laws and regulations.
Automatic reminders can be sent by the program to customers who have unpaid balances to remind them to make payments.
Customers who are unable to pay the whole amount due upfront may set up payment plans using the software. Additionally, it can track payments automatically and modify the payment schedule as necessary.
The program can inform credit bureaus of the existence of unpaid bills, which may have an effect on a customer's credit score and encourage them to settle their accounts.
To simplify the debt collection process and eliminate manual data entry, debt recovery software can be integrated with accounting software and other financial systems.
By automating compliance checks and offering compliance reporting, the software can assist firms in remaining compliant with debt-collecting laws and regulations.
Debt recovery CRM software can be customized to match the unique debt collection workflows and processes of a business or organization, helping to ensure that the software fits their needs and requirements.
Overall, using debt recovery CRM software can help businesses and organizations improve their debt collection process, increase collection rates, and provide a better customer experience. By automating tasks, providing analytics and reporting, and improving organization and compliance management, debt recovery CRM software can help businesses and organizations operate more efficiently and effectively.
Out of numerous software developing companies, why would you choose us? Isn't the question quite familiar to what you are thinking? Yes, we understand and hence we are here with the answer that will let you confirm your thought of availing debt recover CRM software from us. Gtech Web Solutions Pvt.Ltd is a reputable provider of debt collection CRM (Customer Relationship Management) software. Our software is intended to assist businesses and organizations in managing the collection of unpaid debts from customers.
You can automate tasks, improve organization and compliance management, and provide a better customer experience with our debt recovery CRM software. Our software includes features like automated reminders, payment plans, credit reporting, system integration, compliance management, analytics and reporting, customizable workflows, communication management, and dashboards and alerts.
We understand that each business has its own set of debt collection workflows and processes, which is why our debt recovery CRM software is fully customizable to meet your specific needs. To streamline the debt collection process and reduce manual data entry, our software can integrate with accounting software and other financial systems.
Gtech Web Solutions Pvt.Ltd has extensive experience in the debt collection industry and understands the industry's challenges and requirements. We provide excellent customer service and support to ensure that you make the most of our software and meet your debt collection objectives.
Gtech Web Solutions Pvt.Ltd provides a dependable and efficient debt recovery CRM software solution. Contact us today to learn more about our software and how it can help your company streamline debt collection and increase collection rates.
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