Cogent Collections

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Workflow automation: The Secret Ingredient to Better Collections and Operational Efficiency

November 24, 2017

About 6,000 collection agencies in the U.S. work for debt recovery, with every nine out of ten employees stressing on administrative work instead of real work. Even the top business leaders in the debt recovery industry spend about two days in a week, on mundane tasks such as sending out emails, shuffling data, and updating spreadsheets. The end result is 20% recovery rate, with only $40 billion of successful debt recovery out of $150 billion worth of debt (according to 2011 post in the Huffington Post by Harry Strausser III). These statistics illustrate a grave problem, which is related to lack of attention to the primary task of debt recovery, against the regular activities. However, many enterprises have adopted and implemented a modern debt collection andmanagement software , to free-up their staff s o that they can focus on actual recovery efforts. Are your employees going through the same grind? Introduction of Workflow Automation in the Debt Recovery Industry

Time to Stop Wasting Hours on Compliance and Focus on Debt Recovery

September 13, 2017

With an enormous number of debt seekers in the market, there is a neck-breaking pressure on debt collectors to assure compliance. For this they device better ways of debt collection and manage complexities, to enable maximum recoveries. But in most of the cases, companies are not prepared to face these challenges, and debt collectors end up violating debt collection laws. While so much time is lost into compliance, debt recovery loses all the attention when that should be the primary focus. And to bring back the lost balance, people need powerful solutions. Introducing a Robust Software — Cogent Cogent is a debtcollection software that collection agencies and law firms need. A software for collections and case management, designed with creditors’ rights and compliance issues in mind that makes debt recovery easy, through automated collections and case management.It immediately improves productivity, simplifies document management, provides powerful inventory control, and offer

Complete Account Receivable Collection in Less Time

July 28, 2017

The ability to keep the perfect complete track of accounts receivable is the most important elements to manage the successful business. But collecting the account receivables and unpaid invoices payment is the biggest challenge in the present days especially for the small businesses. Failure of this process can lead to cash flow problem and negative effect on the operation. The most effective way to improve this process is the use of accounts receivable collections software which is designed to provide the answer of question “ where is my money” . The software provides multiple solutions and helps in monitoring the payment of a customer and excellent bills to the complete program that tracks the inventory management. Accounts receivable software tracks the owed money and provides the accurate, updated, and centralized data of the receivables allowing a user to better manage the client’s payment and apply the needed interest rates. You can ensure complete receivabl

Cogent Debt Collection Software for Improved Cash Flow and Revenue

July 12, 2017

Whether you are an accounts receivable manager, business owner, or just a person responsible for recovering the unpaid commercial debt of the company, collecting the debt is highly challenging and time-sensitive responsibility. Getting the overdue balance is never being the fun or easiest job even it is the biggest headache. That’s why many businesses sometimes delay this need as a result of which they have to deal with poor cash flow and an unprofitable business bottom line. The work of collecting debt is the largest hassle in itself and its ignorance takes the heavy toll on the top business priorities, work flow, and revenue rate. Thus, it becomes highly important for the businesses to collect the owed money by making the use of Collection Software as soon as possible. There are many steps involved in debt collection process and following these steps along with executing day-to-day operations is never the simpler task. Proven advanced collection softwa

Dealing with Debt Collection as a ChallengeThrough Technology

May 24, 2017

Debt collection industry is a booming, but a struggling industry. Though the number of people taking debt is going uphill, debt collection businessessuffer ordeals of major financial losses every year. Stats show that businesses from all around the U.S., place about$150 billion worth of debt with collection agencies. Out of which, these agencies are able to recover just $40 billion of the totalamount ( source: Harry Strausser III, president of the Mid-Atlantic Collectors Association, 9/21/2011, in the Huffington Post). These statistics point at aburning need to address the reasonsthat lead to failure indebt collection. The leading factors which results in unsuccessful collections is – law compliance failure . Withan enormous number ofdebt seekers in the market, there is a neck-breaking pressure on debt collectorsto assure compliance. For this they need todevice better ways of debt collection and manage complexities, to enablemaximum recoveries.But in most of the cases, co

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