Transparent, or first party collections outsourcing is basically a system by which your company utilizes an outside firm to manage collection of a portion of your receivable portfolio during the period shortly after the accounts become past due (or even before they become past due). It is "transparent" because the customer is unaware they are dealing with an independent firm. It is "first party" as all contact is made in your own company's name, rather than "third party", which purposely involves an independent entity -- usually a collection agency. The primary goal of first party collection outsourcing is the resolution of account issues, which cause delayed payments. Thus, it is largely a customer service function and is intended to strengthen your relationship with your customers through regular, supportive contact. This systematic approach also results in earlier payments, reduced DSO, and improved cash flow.
While the term "outsourcing" has come to imply handing off an entire process to an outside party, ABC-Amega's SoftCall® collection outsourcing solution is unique in that we do not require either long contracts or a takeover of your entire collection function. Many of our clients outsource only a portion of their accounts receivable portfolio -- often the smaller clients they never seem to have time to keep up with. Some clients use SoftCall® to handle the clean-up of a portfolio they may have inherited through the purchase of another company. Others use SoftCall® for seasonal increases in receivables, so they don't incur the costs of hiring, training and managing additional permanent employees or temps. In such cases, the projects may be short-term, 3 to 6 months.
ABC-Amega is committed to working with each of our clients to provide the receivable management solutions they require.
Outsourcing allows organizations to be more efficient, more effective, and to reduce costs. Outsourcing at least some of your accounts receivable process can give you access to resources your company can’t otherwise afford – best-in-class reporting mechanisms; state-of-the-art technology; or additional, well-trained support staff. More high-quality resources mean more consistent follow-up with your customers, and that translates to quicker payments and improved cash flow.
ABC-Amega’s account receivable treatments are completely customizable. We can begin contacting your customers before their accounts reach the due date, to ensure shipments arrived timely and there are no issues to delay payment. Or, we can begin a program after payment is past due, to help resolve disputes or invoice discrepancies and ensure that your bill stays at the top of your customer’s payment list. Treatments can consist of any number of outbound calls, letters, faxes and email, as well as inbound customer service support.
Yes. ABC-Amega is happy to take on smaller projects. In fact, we have a special solution, called A/R Re-Sourcing, that is focused on providing quality outsourcing support for organizations that may only need (or want) a few extra resources to handle the portion of their receivable portfolio that internal associates never have time to touch. Projects are scaleable from as little as ½ FTE.
No. We will take projects as short as 3-4 months, which is the minimum time for an effective receivables clean-up solution.
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One of ABC-Amega’s primary goals in transparently managing your receivables is to become a virtual extension of your credit department. Treating your customers the way you would treat them. And, working hard to not only ensure you receive payment, but to enhance your relationship with your customers through efficient, accurate and courteous customer service support.
ABC-Amega’s SoftCall® Customer Service Representatives (CSRs) undergo an extensive training and certification program that focuses on courtesy and professionalism, listening and understanding, problem solving and conflict resolution. Before CSRs are allowed to make their first live contacts with your customer, they must pass project requirements and skills observation tests. After initial certification, collectors undergo periodic Transaction and Call Monitoring reviews to ensure they are adhering to all project requirements and customer service “best practices.”
ABC-Amega will contact your customers transparently. In other words, we will represent ourselves as calling from your company. Your customers will never know a third party is involved. And, because one of our goals is to enhance the relationship, your customers will always be treated courteously and professionally.
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The best indicator of our effectiveness will be the results we achieve for you. You can expect a reduction in Days Sales Outstanding (DSO), an uptick in account resolutions and an improvement in cash flow and customer satisfaction. You will receive weekly updates to review our progress toward achieving your goals. Additionally, you will be able to view the actual handling on each account through a secure Internet web site.
ABC-Amega provides reporting that is flexible and provides a wealth of insight and essential intelligence into your customer portfolio. Some of the elements routinely tracked and reported are: aging information; collection activity; revenue information; critical business intelligence (root causes of delinquencies and disputes); account detail; DSO; customer satisfaction.
Statistical reports, in Excel® pivot table format, are sent to clients weekly. They include aging summaries with drill-down capabilities, payment forecasts, graphical analyses, and more.
Actual activity on each account can be accessed through an easy-to-use Internet web site at softcall.abc-amega.com.
ABC-Amega’s standard reporting generally provides all the flexibility most clients require. One of ABC-Amega’s strengths, however, is the ability to adapt to the needs of our clients, which includes providing special, individualized reports. Our IT resources allow for complete report customization when required. During the implementation of your project, we will define any special reporting requirements you may have.
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