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February 2024
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Best Practices
Filed under: General, CLS, Collection-Master
Posted by: George @ 2:45 pm

In recent years, the best practices policies tell us that all debtor interactions must be monitored. This can be a powerful management tool if used correctly. Best practices policies say that we monitor all interactions between the debtors and us in an effort to appraise our employees with regards to their effectiveness, to allow the clients to appraise us in the same light, and to maintain relevant records and evidence in order to protect ourselves. Because the regulators regulate our innovative methods, the attitude towards collections has become increasingly hostile.

It is no secret that the climate of our industry is centered around ever increasing client requirements. Yesterday’s best practices may very well get you and your clients sued tomorrow. The obvious trend is that industry regulation follows innovation. Every time one of us discovers a new, lawful and ethical method for collecting some sort of a delinquent account, the regulators catch wind of it and do what they do best: regulate. 

Companies like TriVium Systems, Inc. have created call recording solutions to aid in the monitoring, recording, and archiving of all debtor interactions. They know that information is power and we agree. This is why we have chosen to partner with TriVium to offer an integrative solution between Collection-Master and TriVium.

Let’s face it: without integrating your case management software and your call recording and reporting technology, all you have are thousands of hours of audio recording. For random audits this would suffice, but to really protect yourself, to cohesively monitor all debtor interactions, integration is key!

Integration allows you to find every call on a specific claim. It allows you to find every call for a specific collector, paralegal, client, etc. We know that you need to be able to compile accurate information on any given claim, collector, client, etc. on demand. This information includes every document, every note, every accounting entry, and every record of debtor contact. With call recording and reporting integration, Collection-Master makes this all possible.

 We know that Collection-Master, with its ability to retrieve reliable information, must be the centerpiece of your business. Our commitment to you is to always be on the forefront of the tango between innovation and regulation to ensure that you have the best tools available.

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