Magnum’s end-to-end solutions encompass the entire collections lifecycle, from early, to mid, to late recovery. With our integrated solutions, you can see greater bottom-line results more quickly by bringing multiple strategies into play on collections and recovery efforts.
Magnum improves your collections and recovery rates by improving your capability to:
- Automate workflows
- Monitor resource performance
- Integrate collection analytics
- Improve agency management
- Integrate recovery analytics
Automate Workflows
Workflow automation can provide the largest increases in your collections productivity and efficiency. With our solutions, your collectors can handle more accounts, focus their activity and expertise for the best collection return, and reduce rollover from one delinquency cycle to the next.
Magnum solutions allow you to maintain flexibility so that you can quickly respond and adjust to any changes that affect your collections environment, such as operational, strategic, market or regulatory changes. You can also prioritize workloads and manage contact channels, such as auto-dialer or email campaigns. In addition, you have the capability to manage decisions on vendor and third-party placements, including agencies, attorneys, and skip vendors.
Monitor Resource Performance
Magnum solutions help you effectively monitor individual activity so you can collect more with less. The specific productivity of different operators can be determined so that management can monitor workloads and performance, and allocate resources as necessary.
Collection Analytics
Magnum’s decision management lets you formulate collection actions and decision strategies to best meet your performance goals. Strategies can be based on your own or third party data, and can employ statistical or judgmental models for projecting different outcomes. You can employ strategies to project strategic decision points including probability of account payment, payment amount of a delinquent account, and probability of account self-cure, roll or charge-off.
Agency Management
With Magnum’s solutions you can elevate the performance of your collections and recovery efforts through; increased visibility and control over agencies, better segmentation of accounts and agencies, improved management reporting, reduced maintenance with automated systems and enhanced exception handling.
Recovery Analysis
Collection automation is an excellent tool, and with the Magnum solutions you can set and manage criteria for deciding how to best recover an account. You can prioritize your accounts based on account value; segment accounts for collection treatment, decide which channel is most appropriate for the account, whether to keep it in-house, go outside to an agency, attorney or to sell.
Our solutions can help you optimize your account placement by determining which agencies are best for which accounts. With our analytic support, you can evaluate agencies by more specific performance criteria than only recovery rates.
Talk to Magnum today about your collection process.
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