CASE STUDY: AUTOMATED ACCOUNTS
Increase Payments and Create Efficient Workflows on the Collection Floor
Case Study Overview
Automated Accounts, Inc. is a full-service collection agency based in Spokane, Washington established in 1989. They focus their collections on financial, medical, property management and miscellaneous personal and commercial debt for over 700 clients.
As a full-service collection agency that works on commission, it is in the best interest of both their clients and the agency to have the ability to quickly identify the accounts with the highest potential of payment.
They also needed to have the most up-to-date contact information in order to pursue collecting on an account.
RECOVERY SCORING SOLUTION
Consistent implementation of Recovery Scoring into their collection procedures allows Automated Accounts to use the unique Quintile Report to separate those accounts that have a higher probability of payment. These accounts can be assigned to their collectors and worked first.
The information provided on the report gives each assigned collector the necessary information to contact the person owing the debt.
Account Manager, Jack Driscoll, attributes an increase in amount of payments received between 5-10% annually. The workflow of the collectors is optimized since they are given the best accounts based on the quintile score in the Recovery Scoring report.
In addition, the agency is able to provide valuable feedback to their clients based on the average credit score of the accounts they place with their agency.