Akermon Rossenfeld Shares 5 Ways to Use Technology in Debt Collection
Akermon Rossenfeld is changing debt collection through the strategic use of modern technology and it doesn't have to be a relic of the past. If you're still depending on manual calls and outdated spreadsheets, it might be time to revisit how the process works. Akerman Rossenfeld has relied on innovation to make debt recovery efficient based on the needs of the clients and compliant. Here are five ways technology is ready to transform the way you manage collections.
1. Automated Workflows for Speed of Action
You no longer need to spend hours manually following up with accounts. Automated workflows can issue payment reminders, escalate cases based on timelines, and issue emails or SMS messages without any work on your part. This allows your team to focus on high-level strategy while ensuring no one slips through the cracks.
2. AI Account Scoring
Debtors are not all treated equally, nor should they all be treated the same, wasting resources. AI and machine learning can score accounts based on their behavior, likelihood to pay, and their preferred communication methods. Meaning you can customize your approach and increase success rates while not wasting time on leads that will not respond.
3. Communication
Everyone communicates in different ways, some people prefer text, some people prefer email, and others still prefer a simple phone call. Technology makes it possible to consolidate and manage all of those different touchpoints from one platform. When you communicate where your contacts feel most comfortable, you are more likely to engage with them - and ultimately collect, quicker.
4. Integrated ID Verification
Verifying identity digitally through secure APIs like facial recognition, two-factor authentication, or document scanning adds a layer of protection for both you and the debtor. It ensures data integrity and builds trust during sensitive interactions.
5. Secure Online Payment
People are far more likely to pay if the process is simple and secure. Online portals let debtors pay on their terms - any time, from anywhere. Plus, automated payment plans and one-click options make it easier for people to follow through. Security features like encryption and identity verification protect both you and your clients.
Conclusion
Technology in debt collection is not about replacing people. It is about providing people with the tools and insights to work efficiently. When people leverage technology, they make a system that works smarter, respects the customer, and produces better results.At Akerman Rossenfeld, we believe innovation and empathy are related. If you want to innovate and collect with confidence, consider starting with these five initiatives
Visit: https://akermonrossenfeld.wixs....ite.com/akermon-ross
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