Accounts Receivable Management

Enformion for Accounts Receivable Management

Increase your collection dollars and protect your organization from TCPA and FDCPA complaints

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Accurate – Efficient – Cost-Effective

Segmenting your accounts first gives you the added edge to increase your collection dollars and protect your organization from TCPA and FDCPA complaints.

Identify Public Record Data for special handling teams

  • Bankruptcy
  • Judgments, Liens
  • Deceased records

Skip Tracing with the most accurate and current contact information available.

  • Best phones with dates, phone type
  • Phone scoring
  • Best address that is unique to your input address

For deeper skip tracing, leverage our full web solutions to find more data.

  • Improve right party contact rates
  • Speed up the collections process
  • Verify individuals and businesses
  • Locate hard-to-find persons
  • Reduce manual investigative research
  • Close cases faster to save time and money

Your ARM partner

A company’s Accounts Receivable Management department, also referred to as an ARM, is only as good as its ability to prevent credit losses. Many times, credit losses occur because the collection process did not stop to account from charging off due to poor contact information. Having the best available contact information allows you to speak with your customers and explain their payment options. Engaging the the right customers, you can increase your profits by decreasing your losses.

Here’s how Enformion’s API solutions, batch processing and manual skip tracing solutions can make every part of your ARM process run more smoothly.

Maintaining Your Collections Accounts Easily

An important part of your ARM revolves around maintaining the most updated contact and location information for your collections accounts. Collections isn’t just about accounts that don’t pay on time. It’s also about communicating with the accounts that fully intend to pay on time, as well. Your ARM should actively maintain accurate records for the good portion of debtors that actually want to pay their accounts the way you’ve asked them to.

  • If your collections accounts program runs poorly, losses may prevent you from growing your business through new loans.
  • On the other hand, if you can maintain your collections accounts and take your debtors’ payments as efficiently as possible, you can improve your ARM functionality.
  • With the huge amount of information available at Enformion, you can maintain contact with all your debtors, no matter where they go.

Keeping Track of Debtors

When your ARM is processing accounts properly, you mostly have accounts that pay their loans back as you intended. It’s more cost-effective to maintain accounts with accurate information. However, Enformion can help you follow your debtors anywhere and everywhere, just in case.

  • If someone moves across the country or changes their contact information, you might have a hard time finding that person again.
  • A database with up-to-date information makes it easier for you to keep track of those debtors.
  • With Enformion’s powerful skip tracing abilities and information available for nearly every adult in the United States, you don’t need to worry about losing track of an individual.

Transferring ARM Accounts to Bad Debt Accounts

Unfortunately, you’ll always run into debtors who don’t pay you back for whatever reason. Those accounts that don’t pay eventually need treatment from a collection agency. They belong in Bad Debt Accounts, a common industry term that refers to delinquent accounts.

  • ARM accounts and Bad Debt Accounts require the best and most accurate data for decisions related to account treatment.
  • If you’re able to transfer accounts over to the right department, you can deal with them more effectively.
  • With Enformion’s data, it’s easier than ever to transfer accounts to another area of your business with the correct information to make contact.

Getting More Information When You Need It

You’re always going to want more information about the individuals your company deals with every day. You want to know more about those people’s locations, buying habits, tangible needs, intangible needs, financial situations, and more. Rather than making decisions without the most accurate data, you should instead use Enformion to deliver on that information whenever you need it. Whether using batch processing or API you can link all your accounts and append the newest and most accurate contact information to your business.

  • There are lots of pieces of information you might be able to utilize in your ARM department.
  • It’s important to have all your information in one place, so you don’t have to check dozens or hundreds of sources to track people down.
  • Whether you’re planning to get batch information for a large number of customers all at one time or you need individual searching to more closely hone in on certain people, Enformion can deliver.

INSIGHTS AND EVENTS

WEBINAR

The State of Third-Party Collections 2019: Challenges, Trends and Innovations

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The State of Third-Party Collections 2019: Challenges, Trends and Innovations

CASE STUDIES

The State of Third-Party Collections 2019: Challenges, Trends and Innovations

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The State of Third-Party Collections 2019: Challenges, Trends and Innovations

Talk with a specialist today to learn how Enformion can help to customize a solution that’s right for you.

Call us at 1-855-281-3915, or via online today.