Benefits & Features
Benefits
Debtrak's advanced technologies help to reduce your total cost of ownership and drive efficiency to your organization though advanced collections functionality; broad third party integration and decision support and intelligence.
The Debtrak’s Debt Collection Software System offers several advantages:
- Debtrak is a robust Debt Collection System with strong upgrade paths which have been proven since 2002. Debtrak is based on a single Microsoft SQL Server platform. MS SQL is the latest in database technology and is widely supported with a continual upgrade path. This platform can easily integrate with other systems.
- The Debt Collection Software system allows data import in real time. Debtrak’s “plug ins” are user definable; enabling you to quickly create your own data import templates and import data into the system within minutes. Debtrak offers real time reporting. Real time reporting supports Operational management through comprehensive management reporting and dash boarding in real time.
- Debtrak provides powerful tools to support automated workflows. Debtrak provides a drag and drop workflow builder that allows you to author, document and present workflows that you have built and then with the click of a button activate them to start managing accounts for your clients.
- Debtrak empowers the operators with the dynamically and intuitive controlled screens guiding the operator through the collections process. By empowering and supporting the operator; this improves the customer experience as the client is receiving timely and consistent messages.
- Debtrak is PCI DSS compliant and is tested every quarter and with every major release. Debtrak Debt Collection Software offers our clients a full disaster recovery and business continuality solution.
- Debtrak source code is scanned and certified by HP Verify every 6 months.
- Debtrak’s support team offers global level 2 support and because the technology of Debtrak is new and widespread, being Microsoft based, support is always close at hand. In addition to Debtrak’s helpdesk support; clients can provide a lot of the support they need in-house. This includes report writing, importing data and data extraction. Debtrak provides tools whereby with some training in-house; employees can provide the support functions that agencies typically have had to outsource to more expensive consultants.
- Debtrak can integrate with many third-party systems. The third party systems system could be dialler systems, banking systems, payment gateways, credit reporting and addressing systems. Debtrak can utilise, FTP, email, webservices, APis and XML to “swap” data with other systems. The high level of integration capabilities means that Debtrak can enable your agency to cater for wide range of clients and services.
Features
- Secure and Encrypted Login to the Debtrak application
- Login to multiple databases - one organisation can run unlimited separate databases; this is very useful for segmentation of the staging, reporting environment from the live environment.
- Access level permissions to screens and reports as per the security matrix within the program
- Closed groups with access to allocated Clients and Entities only
- Permissions on Reporting, Clients, Other operators, Action flows, Workflows, Queues / Tasks
- Multi currency
- Accounting for the following transaction types:
Principal of debt, Costs, Payments, Adjustments, Interest - Multiple principals of debt
(unlike most collection systems – this is critical to legal work) - Dynamic calculation of interest (not overnight). Interest calculation important when presenting transaction history at for claim or at court.
- Transparent: full running balance at all times
- Commission based on rules:
a. Flat rate
b. Range of rates
c. Sliding scale
d. Time based (from date of debt or date of supply or nominated date)
e. To be charged as a cost to debtor and / or client up front - Arrangement management integrated with workflow
- Journaling of all transaction types at nominated frequency
- Mass invoice generation for selected clients according to business rules and frequency
- Customisation (in-house) of invoice format
- Automatic generation and transmittal of (according to business rules setup in the application):
a. Invoices to clients
b. Trust transfers from trust account of money due to clients at nominated frequency
c. Direct debits
d. Payments to host from trust
e. Reporting to clients
- Master cost system to save on labour for standardised costs
- 3 tier cost system for accurate cost reporting: includes ability to report on profit margin
- Flexible set of actions associated with costs
- Deferred costs
- Subsidised costs
- Costs not related to accounts, e.g. Client Subscription costs
- Comprehensive payment allocations (principal, interest, adjustments, costs)
- Ability to manage the order of payment allocation order e.g. Merchant Fees first, then letter cost, then principal, then interest etc totally manageable
- Payment allocations tie in with commission calculation
- Ability to customise payment allocation at client, entity and account level
- Comprehensive commission system:
Scale of rates, Range of rates, Fixed rate, Combination rates (fixed + scale), Time based rates, - Commission packages
- Ability to charge commissions: upfront to client, to client as a cost, to the debtor, with tax etc
- Ability to stop at maximum commission
- Trust Accounting Debtor payments to one or more trust accounts
- Trust account(s) reconciliation capability
- Ability to contra trust balance on a client / entity basis for commissions and costs
- Ability to automate trust transfers to the client and to the host agency
- Ability to distinguish between debtor payments directly to client and debtor payments received into trust
- Invoicing System Ability to set invoicing frequency at a client / entity level (weekly, fortnightly, monthly, quarterly etc)
- Ability to invoice at different levels: on a per payment or cost, per account basis, per entity, per client
- Ability to automate the production of invoices with automatic emailing of PDF for Excel version of invoice
- You can define the format of invoices via Crystal Reports
- Filter by many criteria, Listing, Export, Report and Display of:
Clients, Entities (Campaigns/Ledgers/Sub Client), Accounts, Notes, Principals of debt, Payments, Costs, Adjustments, Debtors, Client Payments, Trust Transfers, Time on accounts, Billable time
- Account Functions Within an account the display and ability to manage (subject to permissions)
- Account details
- Account status
- Account financial summary
- Full transactional history including:
Principal of debt, Costs, Payments, Interest, Adjustments - Notes
- Tasks / Queues
- Account specifics (a generic profiling tool, with labels and data types defined by the host)
- Commission
- Legals
- Time on account
- Billable time on account
- Media and attachments
- Letters and Emails
- Account contacts (debtors and other contacts associated with the account)
- Workflow position
- Payment allocation details
- Account Manager
- Update all account details
- Update all debtor / contact details
- Run actions according to action / work flows
- Arrangement maintenance
- Launch documents
- Phone script prompt
- Run letters
- Note account
- Attach files
- Add / manage costs
- Add / manage payments
- Add / manage interest
- Subscribe account to interest plan
- Add / manage principal of debt
- Add / manage adjustment
- Reverse transaction
- Client / Entity Functions Manage client contacts
- Manage business rules for the following:
- Commissions
- Payment allocation order
- Manage workflows for a client
- Subscribe a client to a set of workflows
- Manage master cost settings
- Setup loading rules
- Subscribe accounts to interest plans
- Setup invoicing for nett vs gross (contra vs non contra)
- Setup trust business rules
- Setup automation for transfers and payments
- Operation Functions Mass account management via filter
- Dynamic filter builder drag and drop
- Drag and drop field inclusions
- Export to file
- Export to report
- Re-assign status
- Change account manager
- Send letter
- Add cost
- Run action
- Assign court
- Print letters via filter (mass letter production)
- Bank reconciliation
- Workflow (complex and simple)
- Queues / Buckets
- Notes
- Phone script
- Tasks with attachments
- Letters
- Emails with Attachments
- Media / Attachment management
- Legals (with Stages)
- Arrangements
- Billable Time
- Reports
- Queue / Task accounts
- Manage users
- Manage user permissions
- Reports Formats export to PDF, XLS, Doc on most, not all reports
- Scheduled and ad-hoc reporting
- Distribution: reports can be emailed or printed
- Interactive and dynamic Dashboards
- All Reports structured in a very user friendly manner supplemented with pictoral graphs
- Spin down performance
- Account Status Report
- Account Status Aging
- Client Invoice
- Client Invoice Commission and Costs Grouped Listing
- Client Statement
- Client Spin Down Report
- Account Detail Listing (by criteria)
- Account Status Grouping Summary and Listing
- Account Detail
- Income Prediction (according to future potential payments from arrangements in place)
- Transaction listings for bank accounts for the purpose of bank reconciliation
- Payment Receipt
- Trust transfer receipt
- Cost list by filter
- Payment list by filter
- Client List by filter
- Account Transactions
- Client Aged Receivables Report
- Trust Account Report
- Operator Performance Report
- Aging account status report
- Performance spin down
- Cost and Commissions report
- Client Performance Report
- Account Status by filter
- Payment Listings
- Task list report
- Client Statements
- Management report
- Other reports can be incorporated into the application without re-installation
- Ability to:
a. View portfolio summaries
b. Look up accounts
c. View account details
d. Account notes
e. Account transactions
f. Account contacts
g. Record Payments
h. Record additional contacts
i. Record arrangements
j. Upload files
k. Add notes
l. Upload batch files
m. Lookup notes
n. Lookup client tasks
o. View upcoming court events
- Debtor Extranet View accounts on a permission basis
- View account transaction history
- Make a note the account manager
- Record an arrangement proposal
- Make a payment via credit card
- By default, Debtrak is supplied with a generic demand letter, arrangement letter, broken arrangement letter and notice before legal action. Debtrak can be configured to include any number of letters and legal documents all generated via the system. It provides the ability for an operator to open a document that has been generated in Debtrak, to alter it and when closing the document automatically save the document back into the application.
- All MS Office documents can be launched and generated from the application. The document is closed the document can be automatically saved into the application.
- Debtrak can send and receive email via integration with MS Exchange or directly with the client MS Outlook application.
- Workflows can be customised in much the same manner as one would build a flow chart in MS Visio. Workflows are built by a drag and drop tool, that allows the placement of letters, emails, tasks for operators, costs, operator prompts, operator actions, automated actions etc. Throughout the workflow logical and automatic decisions can be made based on criteria. Different clients can be subscribed to different workflows. Workflows can be linked together to define a debt lifecycle.
- Notes, Tasks, Emails and Letters can all be generated automatically via a merge facility. The merge facility provides a large set of merge fields including listing fields (e.g. a transaction list), that can be included in any of the items. This means that notes can be automatically placed on accounts with data merged from the account, debtor, or other items.
- Debtrak now provides the facility to profile any account or individual. This includes mapping of any data types such as:
Date time, Time, Selection (drop down), Multi-selection (list box), Text, Decimal, Integer - The Debtrak administrator can build prompts for collections of fields. Typically this is facility is used to capture:
Asset information, Injuries, Accident details, Penalty information, Offences, Employment details - For instance the business may have a client where recovery of a car is a possibility. The administrator can simply create a new profile group called “car” and add to car fields such as registration, make, model, year, chassis etc. That information can be imported or recorded and can be made available as a merge field.
- In some cases agencies prefer their call staff to follow structure phone scripts. Debtrak provides the ability for Debtrak administrators to structure the content of calls with data merged from the account. The flow of the call can also be configured as well as data capture prompts. For example the operator may be prompted to say:
1. Good afternoon<Title><Last Name>, my name is<Operator Name>can I verify you are<First name><Last name>
2. Prompt operator for answer<yes>or<no>
3. If yes is pressed then:
4.<Title><Last Name>a balance of $<Balance>is outstanding on your account with<Client>when can you make payment?
5. prompt for answer<can pay><cannot pay>
6. If can pay prompt for<proposed payment date>
7. etc - The administrator can configure any number of these phone scripts. The phone script captures all data entered by the operator throughout the call. And can then write a customise note, as opposed to the operator typing their own note of “war and peace”. The note in this case would read something like:
Call initiated<call start time>by<operator>.<Title><First name><Last name>answered and verified their identity. They were told that they had $<Balance>outstanding on account to<Client>and were asked if they could pay the account. They replied that they could. An arrangement was made for the account to be paid in full on<proposed payment date>.
Debtrak is a key component in Austral’s Operational Excellence. The system automates and simplifies many of our processes allowing our people to focus on what they do best, connect with customers. It also allows us to create our own value adds and tailor the system to our various client’s requirements. Since the system was implemented our business has gone from strength to strength.