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6 Ways to Use Tech for Accounts Receivable

Got collections? Technology has changed the way you can collect on your accounts receivable. Here are six areas you can use technology to make collecting easier:

1. Customize workflow.
What: Tailors the work strategy for each client.
Example software: Flexible Automated Collection System by Ontario Systems

2. Verify account records.
What: Scrubs old accounts, confirm contact information.
Example software: Acumen by Ontario Systems

3. Trigger alerts.
What: Alerts on accounts if consumer enters the credit system.
Example software:

4. Leave messages on a mobile phone – legally!
What: Comply with the Telephone Consumer Protection Act (TCPA).
Warning: Do not try this on your own.

5. Convenient payment options.
What: Accept payments by phone or online.
Example software: Multiple programs

6. Call monitoring and auditing.
What: Monitor and audit 100 percent of your collection calls.
Example software: CallMiner