Collections Processing

Workflow Template

Collections Processing

Workflow Template

This workflow template illustrates the acceptance, documentation, verification and subsequent follow-up (if necessary) related to customer payment collection. Purchase and download this template in PDF, Visio and PowerPoint formats, and customize it to fit your organization, or use it to better understand the Collections Processing process.

Related KPIs : Collections Connect Rate, Percentage of Outbound Calls Resulting in Promise to Pay, Percentage of Delinquent Customers Contacted

What is Collections Processing?

Collections processing involves the acceptance, documentation, verification and subsequent follow-up (if necessary) related to customer payment collection. This process includes checking if customers have paid for a product or service in full or if payment is late, invoice generation and verification, customer contact for payment, payment processing (manual or electric) and account reconciliations. Any discrepancies should be noted and sent to customer for review.

Download a Sample Collections Processing

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