Collection Agencies have to keep track of a lot of paper documents. It is difficult for any company to handle paperwork. collection agencies are particularly inundated with paper documents. Collection agencies must adhere to government compliance, while maintaining regular communications with clients. Outsourcing to InStream will allow your collection agency to gain streamlined efficiency. Therefore, your agency will have all the tools needed to achieve your goals. Below are just a few of the services InStream will provide to your collection agency:
Mailroom Services:
Most mailrooms are swamped with important documents that need processing. For collection agencies, this is especially true. InStream’s Data Capture solutions will expedite the mailroom process. You can capture documents and instantly route them to any designated recipient. Once you deliver and proccess your mail, you can store it in a secure, electronic document management (EDM) system so it can be retrieved for subsequent use. You can also send documents to others as necessary. Outsourced mailroom services will lead to greater accuracy while improving workflow rates. Office communications will be a breeze!
Data Entry:
Manual data entry is a hassle and uses a lot of time and money. With InStream, your agency will be able to capture all data from invoices, bills and other important documents. Data can be single-keyed, keyed with database lookups, double-keyed, or visually verified based on the accuracy needs of the client.
Lockbox Solutions:
It is very difficult to manage checks and keep track of payments. Your company also needs a lot of internal controls to protect your payments. InStream’s Lockbox solutions allow your organization to securely outsource incoming check processing, including posting payment information into client accounting systems. Lockbox solutions are particularly beneficial for companies with high-volume, short-turnaround payment processing requirements.
Workflow Processing:
Working with digitized documents is much more efficient than manually processing paper documents. Workflow processing is especially beneficial for collection agencies with many paper documents. Electronic workflows will bring efficiency to organizations with transparent work monitoring, compliance with agreed upon processes, balanced staff workloads, and better quality assurance. Therefore, it will be much easier to answer debtor questions. InStream will work directly with your agency to ensure that your debt recovery efforts are optimal.
These are just a few of the services that InStream provides to collection agencies. InStream will collaborate closely with your organization to customize a solution that works best for you. To learn more about these services and more, contact InStream today!
