AREN’T Your Invoices cleared in Time?

One of the biggest obstacles of a company’s business success is bad payment morale on its customers’ side. The value of unpaid bills is missing from the budget for indefinitely, making business planning impossible and causing cash-flow problems. Debt collection is a serious problem as it not only results in human resources, time, legal, and administrative costs, but also affects the financial stability of the company.

It helps your company’s financial situation if:

• Debts are repaid faster and in a larger proportion
• You can track how the portfolio of the receivables change over time
• Recovery activity is lower due to the automated process
• You are more likely to avoid litigation.

Solution: The Hyper-X Collect debt collection System

Our Hyper-X Collect debt collection solution’s main goal is to make the whole process more efficient

Advantages:

• Quick to setup;
• It can be integrated with the existing billing and current account management system
• The current debt collection processes will be fully automated including the treatment of return receipts
• It requires little human resources to operate
• Instant reports can be pulled at any time
• It has its own graphical management information interface (even on a mobile device)

Main attributes:

• It is independent of Billing platforms (can be integrated to existing systems)
• Process controlled
• It is based on state-of-the art technology (Microservice, Kubernetes, Angular)
• Service oriented
• Entirely compliant with legal and financial requirements
• The system is available as a software licence and as a cloud-based service (SaaS)
• It can be synchronized with the current account management or – as an option- it also has a standalone current account management module.

Main functions of the system

• General functions:
  • Customizable processes by the users
  • Reporting, Controlling functions, advanced search
  • Customizable document templates
  • Support for bulk/group process startup
  • Customer portal and online payment
• Debt collection functions:
  • Registration of case management events, individual processes, statuses
  • SMS, email, letter (check handling) and legal notifications
  • Return receipt and customer portal management
  • Collection cost management with flexible base fee
  • Display of NAV processes, NAV interface

The Debt collection process

Recovery steps are represented by recovery levels. As time goes on, and there would still be no payment, the current account item is being moved to a higher collection level. There are predefined conditions for entering the collection level and the programs that can be assigned to each level (e.g., sending a payment reminder or reminder, handing over for recovery etc.).

• expired invoice
• warning text on the invoice
• email reminder
• sms warning
• service restriction
• service termination
• cleared
• transfer to legal area