Alloc8 Collect credit management software allows your collections team to focus on creating value and chasing the customers that need chasing, not spending time gathering data from spreadsheets, sales ledgers and calling customers that do not need calling. Alloc8 Collect changes the way you think about technology within the collection environment.
Most collection systems are like looking in the rear view mirror when you drive and only take into account historical data to try and help you pull together information. This approach often requires lots of set up time to categorise / segment large customer data sets and further time sorting through who to call.
Alloc8 Collect allows you to look through the front view mirror to not only see the road ahead but also to see what is around the corner allowing for a much more proactive approach to your collections. This enables you to call customers that need calling, at the right time.
Most solutions see the start of the collections process when cash is applied to the sales ledger and this can provide issues around not having an up to date picture of a customer account, often not seeing remittance information where a customer is about to pay, or delays in applying cash not being reflected on a customer account, or having to talk to customers about how to apply unallocated cash not discussing unpaid invoices. Alloc8 Collect is a real time end to end solution that works as soon as the cash hits the bank, or sooner!.
If a customer sends a remittance, Alloc8 Collect credit management software will see this and mark every invoice that is about to be paid so you don’t have to chase these invoices. Also by seeing the cash as it hits the bank, you get a real time view and don’t have to wait to have the cash applied. Additionally providing more detailed information about your client and how they pay you, alias name and parent accounts allows you to focus in on the payee details and empower you with additional information not normally associated to your sales ledger.
Alloc8 Collect also works out from a series of smart rules when a customer will pay you. Most AP systems, if fed correctly, will pay at the same time every time and Alloc8 Collect will work out customers who are sending AP payments and their patterns and forecast when they will pay you. This includes working out weekends, bank holidays and other date variations providing an accurate forecast which alerts you immediately to any changes or variances. Of course not all customers pay you using AP systems and Alloc8 Collect will work out the behaviour required to collect quickly and efficiently from these customers.