They say it’s a numbers game. Make a lot of calls, develop accord quickly with your debtor, learn the reason why payment hasn’t been made, then find some way to get agreement to pay. Sounds like a formula that can be taught.

Collector performance needs an individual that’s motivated and can handle refusal. Very like a sales representative, the collector must focus on their daily goal and get their 10 or more guarantees to pay each day.

As a executive of the collector group, you can remove some of their barriers to success. The keys to collector success include the following: hiring, coaching, monitoring and training, reward system, and providing a technique of collecting accounts that is nicely designed.

The debt collection software can help with the monitoring, motivating and providing some consistency in how the accounts are presented to the collector. Good debt collection software provides the facility to carve up the accounts by any standards you can imagine. Over a period a good boss learns what works best and will divide the accounts in a manner that is equitable while removing as much revenue as practical.

When using an automated predictive dialer system, the collection agency software can select accounts for a specific customer then sort the files so that the accounts are larger than $500 and so the files are presented by the total owed in ascending order. Although the collector doesn’t preview the account before the call is presented with the right account details, the collector knows the answered call will be for Memorial Hospital, the account balance will be $500 or even more and the date of service will be around Sep 2011 as an example.

The executive can put new hires on low balance accounts that typically will be paid without much resistance from the debtor. The new collector gains confidence with every payment received and steadily can move on to higher balances.

The collection programs help the collections boss supply the collectors with accounts in a significant progression. The collector can also be presented with feedback on their progress in meeting their goals month to date and compared to their peers.

Providing the collectors with inducements and rewards daily for biggest account collected or the best percentage of daily goal met is a method to generate excitement and help your collectors strive for performance goals.

Rodney MacKenzie is VP of Sales & Marketing for Collect Tech Solutions. Their flagship debt collection software product is Wincollect.

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