Collections Best Practices Guide
This guide details 15 high value best practices for Collections Department, or agency, operations organized by function including Collections Account Maintenance, Collections Operations, Deferment & Forbearance, and more. Use this document as a guide in implementing work activities in your Collections Department that have proven to increase efficiency, cost effectiveness, customer service and work quality. The majority of OpsDog's best practices require no new technology and can be implemented without infrastructure or regulatory-related organizational changes. Order this document to point your Collections Department in the right direction.
Which organiational areas and/or lines of business are covered in this best practices guide?
This guide includes details on 15 best practices (including a description of the best practice, comparison to the status quo, related KPIs, and benefits of the best practice over other common methods) covering the following areas:
- Collections Account Maintenance
- Collections Compliance
- Collections Operations
- Debt Sales
- Deferment & Forbearance
Download a Sample Collections Best Practices Guide
Frequently Asked Questions
Q: How do you determine what are best practices?
A: Through 25 years of research and hands-on consulting. We’ve been analyzing the operations of hundreds of industry leaders—including scores in the Fortune 500—since 1993. We have detailed, documented, and anonymized data, at the activity level, for proven best practice. We combine that with original research to create easy-to-use guides that give you an instant edge.
Q: How can your Best Practice Guides help me and my business?
A: They can drive improvement in both individual and company performance. Use our guides to train employees in the work methods that are proven to yield the best results. Learn and leverage from the best, rather than trying to reinvent the wheel. And do it easily, with clear written descriptions of each best, or leading, practice.
Q: Your download-able guides look great. But I need something custom. Can you help?
A: Heck yes. Our analysts would be happy to create a custom-tailored Best Practice Guide just for you. Give us your objectives and scope, and we’ll do the rest. Simply email us (firstname.lastname@example.org) or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.
Credit & Collections
This workflow template illustrates the back office processes of new customer applications, credit checking, payment and collections performed by the Credit Department. Purchase and download...
Type : Workflow Template
Process Participants : Plant/Branch, Accounts Receivable, Credit Department