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Collection Pro • • • Complete Collection Program Manage & Monitor Collection Calls Monitor Payment Promises Export Data to Excel for Further Analysis Support Documentation Storage Create WORD Templates as Form Letters Prepare statements for Faxing or Email Prepare Dunning Letters for Faxing or Email Manage Tickler File Reminders Management Reports 39 Additional Customizable Fields Page Up or Down to navigate through the program.
Collection Pro was designed as a complete B 2 B collection program for both large and small businesses. The program can be used as a stand alone module or part of an enterprise edition that also contains modules for Deductions and Credit Evaluation. Collection Pro can be purchased or leased monthly as an ASP application and accessed anywhere in the world. The program utilizes Access, Excel, Word and Outlook. It works with any accounting system. The program can be customized to work the way you do. It is scalable and can be used with a SQL database. Page Up or Down to navigate through the program.
Collection Pro offers an efficient and effective method for processing collection calls. All information necessary to review account history and to discuss open item details with a customer, resides in just two screens. From these screens, collectors can record notes, make line item notes, enter collection reason codes, print, fax, or email statements or dunning letters. Users can also maintain records on accounts turned over to 3 rd party collection agencies. Let’s click on the “Collections” button to preview the module.
Credit Strategy We have selected Credit Strategy as our customer. The screen we are looking at is the log of the last collection call made. In the lower left part of the screen, you can see that we have 12 records. This means 12 collection calls have been made over time. To enter a new collection call record, the user clicks on “Insert” on the main menu and “New Record”. When saved, we would have 13 records. The user clicks on the arrows to navigate back and forth through prior Copyright © 2001 Credit Strategy, Inc. All rights reserved calls. Let’s click on the “Contacts” button.
This opens up a pop up screen to enter as many contacts as you would like. If you wanted to create an email for any of the contacts, simply click on the email address and it will open an email and automatically populate the address.
Credit Strategy There are 9 fields that a user can customize on this screen. Labels can be changed and linked to the users accounting software or used in a “freelance” mode. Copyright © 2001 Credit Strategy, Inc. All rights reserved
In this example, the user populated both the “Notes” and “Comments” field. One field was typed in and the second was selected from a drop down menu list. Users can customize a variety of pre-selected statements.
The user can view archived collection calls in chronological order either by scrolling backwards with the “Records” button or, click on the “Review Notes” button to view just the “Comments” and “Notes” from prior collection calls.
The user can tell if the customer is on credit hold and who placed them on hold. Such information as the customers last payment amount and date as well as the last dunning letter type and date are also available. Unlimited WORD templates can be developed to create “Form Letters” that can be printed, faxed or emailed directly from the program.
The collection log screen can be used to monitor 3 rd party collection activity. Once you turn an account over to collections, you activate the “ 3 rd Party Collections” pane by selecting a “Collection Agency” from the customizable drop down menu. Enter the “Amount Placed" and “Date Placed”, along with a “Bad Debt Reserve Amount” and “Date Reserved”. You can record collection payments and expenses by clicking on the “Details” button.
Users can link Parent/Child relationships through the use of a “Corporate ID” number. This allows the user to review roll up data on all subsidiaries. Users can review all the accounts related to this customer, by clicking on the “Related Accounts” button.
This customer is related to 4 other companies. The pop up screen provides a quick review of each of these companies such as “Credit Limit”, “A/R Balance” with “Current” and “Past Due” amounts. The program can be customized to reflect additional data fields to meet your needs. To review how a related account is paying, we place the cursor on the customer name and click on the “Aging Summary” button.
Let’s return to the “Collection Call Log” screen.
By clicking on the “Customer Data” button, users get a pop up screen that contains 24 fields that can be customized. Let’s move onto the next screen by clicking on the “Internet Links” button.
Users can customize up to 24 internet links that work with the Internet browser. Let’s click on the “Attachments” button.
Users can link various types of files into the program and review them on-line, whether it is a scanned in document, a HTML file saved from the internet or a soft copy attached to a customers email. Let’s return to the “Collection Call Log” screen.
Collectors generally will work from two main screens, the “Collection Call Log” screen and the “Open Items” screen. Let’s click on the “Open Items” button.
Credit Strategy This screen reflects all the open items for this customer. In the next screen we scrolled left to right to view additional line item detail. Credit Strategy can be customized to capture as much line item detail as you require. Copyright © 2001 Credit Strategy, Inc. All rights reserved
Credit Strategy To return, scroll back (right to left) Copyright © 2001 Credit Strategy, Inc. All rights reserved
Credit Strategy Note the four separate columns in the upper left hand corner of the screen. The first header “D” indicates transactions that are disputed. These disputes were logged into the “Deduction” Module and are open and active. By clicking on any of the fields with a letter in them, the user can view the “Dispute Reason Code” made in the “Deduction Module” that references this transaction. Copyright © 2001 Credit Strategy, Inc. All rights reserved
Credit Strategy By clicking on the letter “B”, the pop up screen would indicate the “Reason Code” made for this transaction. Copyright © 2001 Credit Strategy, Inc. All rights reserved
Credit Strategy The next header “N” indicates line item notes. Users may enter line item notes on any transaction by clicking in the field. Again, the first letter of any note is what flags the line item and lets the user know that a note exists for this transaction. Copyright © 2001 Credit Strategy, Inc. All rights reserved
Credit Strategy The next header “C” indicates “Collection Reason Codes” that indicate why a customer may not be paying. “Collection Reason Codes” are developed by the users. Copyright © 2001 Credit Strategy, Inc. All rights reserved
Credit Strategy The 4 th column header reflects payment promise dates for specific transactions. To select invoices for payment, the user clicks on the “Payment Promise” button. Copyright © 2001 Credit Strategy, Inc. All rights reserved
Credit Strategy A “Payment Promise” pop up screen appears. The user selects invoices scheduled for payment. The user then clicks in the “Date Promised” field to bring up the “Calendar”. The user selects a date and clicks on “Save”. Users can setup multiple payment schedules. Payments not made on the date promised, will be flagged in the collectors File”. reserved Copyright © 2001 Credit Strategy, “Tickler Inc. All rights
Credit Strategy If the user should need to adjust any of the payment promise transactions, they click on the specific payment promise and enter the changes. To view a “Payment Promise” report, the user clicks on that button. Copyright © 2001 Credit Strategy, Inc. All rights reserved
This is an example of a “Payment Promise Report” detailed by transaction numbers, amounts and dates. This report can be emailed, faxed or printed off from the program.
Credit Strategy To send a customer a statement, the user has the ability to select a statement with or without credits by clicking on the respective buttons. Copyright © 2001 Credit Strategy, Inc. All rights reserved
Once the statement type has been selected, the user can now email, fax or print from the program. Copyright © 2001 Credit Strategy, Inc. All rights reserved
Credit Strategy If the user also has the “Deduction Pro” Module, they would be able to create dispute logs for both single or multiple transactions. Copyright © 2001 Credit Strategy, Inc. All rights reserved
By clicking on the “Multiple Notes” button the user can select a group of transactions, assign a “Group Number” and monitor multiple invoices with a single “Collection Reason Code” and/or a “Comment”. “Group Numbers” can be retrieved so changes can be made.
Open Items can be filtered by specific text or a date such as December, 2004. Click on the “Filter Excluding Selection” icon located on the “Menu Bar”. The filtered Items appearing on the screen can also be exported to Excel by clicking on the “Export to Excel” button. Let’s return to the “Main Menu”.
Let’s review the “Organizer” Module by clicking on the “Organizer” button.
The “Organizer” is a real workhorse in the program. This screen serves 2 functions. First, you can query your database in many ways by clicking on various parameters and the “Run Query” button. The example grid shows all customers that have been classified as a high “Credit Risk” with an ”A/R Balance Greater” than 1, 000. Users can export the results to Excel by clicking on that button.
Let’s return to the “Organizer”.
Users can manage all tickler file follow up activity from this screen. Just select the “Follow up Name” from the drop down menu and click on any of the blue buttons to identify your follow up activity. In the example, we are selecting follow up items for “Collections”. As the follow up items appear on the grid, place your cursor on the customer name and click on the “Follow Up” button to return to the respective call log.
The user resumes their collection follow up activity and returns to the “Organizer” for the next follow up item. Let’s return to the “Main Menu”.
Let’s review reports by clicking on the “Reports” button. The program provides a variety of meaningful reports to manage your A/R portfolio.
Let’s review the “A/R (All Collectors)” report by clicking on it.
This report provides the ability to view a typical A/R aging by “Collector”. Besides the standard reports included in the program, additional reports can be customized to meet your requirements.
The user can prepare a cash forecast report by clicking on the “Rolling 4 Week Cash Forecast” button and selecting the relevant parameters. If “Average Days Paid” data is not available, the user can calculate a cash forecast by estimating their DSO at the end of a 4 week period.
Let’s return to the “Main Menu”.
The last module is the “Systems Administration” area accessed from the “Main Menu”. From this screen the administrator can setup and change any of the drop down menu lists within the program. They can customize the aging periods, establish value sets for scoring templates, customize the additional 39 fields available in the program, update text used in dunning letters and archive databases.
Call to schedule a live remote demo direct to your PC Credit Strategy 877 244 0700 (USA) 951 689 6744 (Outside USA) 4268 Lakefall Ct Riverside, CA 92505 www. creditstrategy. com To end this session right click and select “End Show” This completes our tour of Collection Pro. We also provide separate integrated applications for “Credit” and, “Disputes and Deduction” for both large and small businesses. Live demos are also available via web conferencing.