Over the years we have come to realise that the most effective method of debt collection is to move away from aggressive collecting to co-operative collection and as such in executing our mandate we employ a methodology pinned on these principles.
We use a very efficient debt collection software system (Excalibur) supplied by FutureSoft (a leader in South African debt collection recovery industry). This software is used to manage debt collection workflows and strategies.
Our experience is that the tele-collection system tends to yield better returns than litigation, therefore we have an in-house call centre. Our call centre agents are all trained and qualified in call centre and we continue to provide them with ongoing training on things like phone etiquette, client relations, service excellence, customer care, software updates etc.
We currently subscribe to VeriAgent, LexisNexis’s Ghost Convey and Windeed which all help to access the trading patterns and details of the debtors and we utilize these systems as our first tracing tool. Tracing agents will be sub-contracted on a “no trace no fee basis” where our internal systems fail to yield positive results.
If the tele-collection process falls short, then the collection process is escalated to litigation and this is done by our own well-resourced litigation department.