Strong collection actions efficiently boost your collection rate and can save time, thanks to task automation.
Debtor management teams often struggle to complete their tasks within the allotted time. They predominantly handle these tasks manually and sometimes encounter resistance from management regarding investments in solutions for automating collection tasks.Jumping Fox assists schools in prioritising and automating strong collection actions while phasing out weak collection practices.
So, what exactly constitutes a strong collection action? It’s a high-value task that significantly impacts your collection rate, and much of it can be automated. These tasks include automation of collection workflow (including personalised SMS and email notifications), managing meaningful phone calls (no more voicemails), bulk updates of parent contact information, negotiation of payment plans, refinement of school fee billing, and management of high-risk accounts.
Teams may argue that they already handle these tasks, but the crucial question is whether they have daily processes in place to consistently execute them using automation.
By concentrating on elmininating weak collection actions, substituting them with strong collection actions, and integrating automation, debtor management teams can expect one thing — an increased collection rate in less time.