Debt collecting headaches gone

Thugs in black suits and cricket bats may be facing their extinction in the
debt collection eco-system thanks to a new automated collections solution which makes debt collecting virtual.

Aptly named, Collections Accelerator from Premiere Global Services (PGS) allows businesses to speed up their debt collection processes, according to South Asia managing director, Craig McCloskey.

Citing research from the Commercial Collection Agency Association and First Research, he said in a statement that the likelihood of companies to collect their dues deteriorates an average of 10 per cent each month and, after a year, the likelihood of collecting a debt is only 25 per cent.

“Companies often spend time and money chasing overdue amounts they will never see. Collections Accelerator is a voice broadcast solution which sends pre-recorded voice reminders to customers, who can then pay their account automatically within minutes,” he said.

Collections Accelerator can also send an email or voice reminder before an account is due and again 10 days after the due date.

collecting debt goes software virtual