We are fortunate to collaborate closely with some of the industry's leading Heads of Collections and Remedial, who have overseen large collections units in Middle East and Europe. With over 30 years of combined experience, these experts have worked with top global banks like Citibank, Standard Chartered, and Barclays, as well as numerous regional non-banking financial institutions. Their extensive knowledge and expertise have been invaluable in helping us develop the most practical and feature-rich debt collections management software.
We are passionate about the Frappe Framework that powers ERPNext. As an open-source framework, Frappe offers a wealth of rich features that have supported our customizations of ERPNext since 2016. When it came time to choose a framework for our debt collections management software, Frappe was the clear choice.
Our software is built on the robust MariaDB, one of the most popular open-source relational databases. For the user interface, we selected Vue.js to ensure a smooth and intuitive experience. This powerful combination results in a no-licensing solution, meaning our clients can use our software without any additional fees. With this approach, we deliver a highly effective debt collections management system at a competitive and reasonable price.
Our debt collections management software is designed to be highly versatile, making it ideal for use in retail and corporate banks, as well as non-banking financial institutions. It supports seamless operation across different business lines on a single server, allowing both retail and corporate divisions to run independently with separate instances. The software’s flexible settings enable tailored strategies for each line of business, ensuring that unique collections approaches can be applied based on the specific needs of retail or corporate clients. Whether managing large-scale corporate accounts or individual retail customers, our platform offers the adaptability to optimize debt recovery processes for any type of institution.
With advanced features, real-time tracking, and customizable workflows, our software provides a comprehensive solution that enhances efficiency and streamlines operations across both retail and corporate sectors.
Our approach to building debt collections management software was driven entirely by the needs and experiences of collectors. We spoke with numerous seasoned collections agents to gain deep insights into the challenges they face with existing software. One key pain point was the lack of intuitive shortcuts, which significantly affected their productivity. With this valuable feedback, we meticulously designed the software to ensure every data field is placed in a way that is easily accessible when needed. Our goal was to minimize the need for users to reference core banking systems or data warehouses, streamlining their workflow and boosting efficiency.
We are committed to reducing the time spent per account by a substantial margin. By optimizing the user interface (UI) and user experience (UX), we enable collectors to process more accounts in less time. The time saved allows them to make more collection attempts, ultimately improving recovery rates and increasing overall productivity. Our focus on usability and speed empowers collections teams to work smarter and more effectively, achieving better outcomes with fewer steps.
We chose the proven, classic accounts queues method for our debt collections management software, as it provides us with enhanced control over each queue and bucket. This approach allows us to efficiently categorize accounts into activity zones such as Front End, Mid Range, Back End, Pre-Delinquent, Charged Off, and more. By sorting accounts in this way, we ensure that each account is managed according to its specific status and priority.Our system enables the definition of key parameters such as maximum Promise to Pay (PTP) days and minimum PTP amounts, providing flexibility in managing various account types. We also track critical metrics such as the number of inactivity days, contact attempts, and positive outcomes, ensuring automated supervisory intervention when necessary. Account histories are a combination of user inputs and system logic, allowing for a comprehensive view of the account’s progress. For example, a PTP history would follow a clear sequence: User PTP → Account Routing to PTP Queue → Payment by Customer → Account Rollback → PTP Kept. This structure ensures that any user can easily follow the chronology of the account’s status and actions taken, providing transparency and clarity throughout the collection process.
With this method, we not only enhance control over account management but also streamline workflows, making it simpler for collections teams to track and manage accounts. The combination of structured queues, automated interventions, and clear account histories helps reduce errors and improve overall efficiency, ensuring a smooth and productive collections process.
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