If you were to close your eyes and picture what the inside of a collection agency looks like, you’d probably imagine a loud, cramped call center, with collectors trying to convince debtors to make good on their obligations. And you’d be mostly right, because much of the industry hasn’t evolved much in the past 50+ years.
But nowadays, who picks up calls from an unknown number, or worse, one that has been screened as Scam Likely?
Many people are uncomfortable talking about their debt issues over the phone, but are highly likely to work towards resolution online, on their own time.
The effectiveness of phone calls as a collection method can be supplemented with modern technology, yet the strategy for many collection agencies has not changed. People today have access to all of their accounts online, and typically pay bills online, so why not apply a modern technological mindset to the way debtors manage what they owe? This is why Axela launched our debtor-facing online portal.
The EasyResolve™ web portal provides homeowners who are delinquent on their HOA or Condo maintenance fees with an opportunity to resolve the debt online, with no further interaction with a collection agent.
We realized early on that in order to maximize the effectiveness of our collection efforts, we would have to develop a digital, multi-channel approach to communicating with owners. The reality is that many people are uncomfortable talking about their debt issues over the phone, but are highly likely to work towards resolution online, on their own time.
The EasyResolve web portal has all the functionalities that an owner would need in order to resolve an account. They (the delinquent owner) can log on, download pertinent documents, build their own payment plan, submit a dispute, upload documents, and of course, make a payment.
The payment plan feature has been very popular amongst early users. The parameters are set by the client, meaning owners cannot submit a payment plan that falls outside of the board approved time period. It also factors in future amounts as they come due, so that by the time the payment plan is satisfied, the owner’s balance will have been resolved. A delinquent owner can customize a plan that fits into their family budget on their own without having what may be an uncomfortable conversation with a customer service representative.
It’s important to note that Axela does not eliminate calls completely. We use a diverse, multi-channel communications approach, which includes letters, calls, and emails to engage and communicate with owners. But all of our communications with owners encourage them to go online. By doing so, we save on labor costs, and those savings are then passed on to the clients as well as the owners.
By developing the most efficient and cost-effective collection practices, we’re able to provide superior results and customer service. This is what sets Axela apart.
To see Axela’s portal for yourself and start reaping the benefits of modern technology in your collections process, sign up for your free collections analysis today.