AdvantEdge® incorporates several resources to assist debt buyers/sellers in their daily routines. Some of these resources are outlined below. Additionally, we have partnered with Experian to incorporate their new product, Collection Advantage, into AdvantEdge. Collection Advantage allows our clients to receive up to 5 collectability and/or recovery scores.
AdvantEdge has the built in functionality allowing our users to import new accounts directly from an Excel spreadsheet. The Import Wizard allows you to control your own import mappings without costly custom programming. Additionally, AdvantEdge has the ability to export debtor information to various file formats including MS Excel. AdvantEdge can serve as both an internal collection system and a fully functional recovery management software by utilizing our forwarding module. The forwarding module allows users to manage the entire third party collection process including: Account placement, direct payments, maintenance processes, account recalls, keeper requesting, close and returns, reconciliations, etc. Also, we have developed an online portal that allows you to send and receive files to and from your third parties at no additional cost to you.
Sample Reports
- Inventory: Shows the account balance, last paid date, and amount per product based
on date
of assignment. - Placed and Collected Report: Shows the number of accounts dollar amounts, collected amounts and collected percentages for a client.
- Agency Sales Report: Displays dollar amounts placed, number of accounts placed, commissionable figures, unit yield, and gross % based on the DOR range chosen.
- Client Production Report: Shows both the gross and net dollar amounts collected for each client daily and per month. Report also includes postdates, budgets and projections for each product.
Account Document Request Reports will be handled with ease, illustrating the following.
- The date of delinquency: When the account became deficient.
- Original Debt Balance: The beginning loan amount or total debt on transfer date.
- Fees and Costs: Interest accrued, late fees, etc.
- Customized Automated Letters: To the original creditor for disputed/fraud account claims.
Forwarding Accounts to outside organizations such as collection agencies and attorneys that can be electronically delivered and continuously tracked via the following.
- Sorting Functions: Selecting specific account criteria’s based on your particular reasoning for forwarding an account.
- Receiving Agency: Choosing the agency, law firm or organization you want to forward the account to.
- Transfer Date: Recording the date you sent the account to the outside organization.
- Denoting Accounts: Make any notation on the accounts being sent in one mass grouping.
Importing electronically submitted accounts is made easy with only a few steps in our Import Wizard program.
- Custom Fields: Create unique fields based on your organizations needs matching these with the file headings in the new business file you receive.
- Scrubbed Data: Ensuring that all data is placed correctly in each field.
- Save the File: Save as an Excel or text file.
- Save File Changes: Save the updated information and run the Import Wizard.
- Imported File Template: The next time your client sends a file you do not have to set-up the file headings again. Just use the Import Profile template and save yourself even more time.
Exporting Accounts to your clients is made easy using our powerful Status Manager tool.
- Debt Type: Choose a custom field indicating the type of debt you want to export.
- Transfer Date: Select the set date.
- Automated Data Organization: Choose sort to rearrange the data. The system automatically arranges the fields in descending order.
- File Formatting: Select the file type: Excel, spreadsheet, database or text file.
- Exporting the File: Create a file using the Import Wizard tool and forward to your client!
Recalling Accounts
- Primary Agency: Select the client and their specific accounts that you are recalling the accounts from or sending to the primary agency.
- Reason for Recall: Select the reason for the account being recalled.
- Forwarding the File: Electronically send the file to the Agency via email, FTP, etc.
