Profile cover photo
Profile photo
Quantrax Corporation Inc.
11 followers -
State Of The Art Collection Software Quantrax Corporation
State Of The Art Collection Software Quantrax Corporation

11 followers
About
Quantrax Corporation Inc.'s posts

Quantrax’s I-Biz product suite is a powerful BI platform for the RMEx #collection #system . Developed using state-of-the-art relational and dimensional database technologies, the I-Biz platform will transform the way in which you manage your collections and portfolio performance. No longer will you be constrained by plain paper reports or one-dimensional and time-consuming data exports: I-Biz replicates your collections data to a Windows-based SQL Server database and OLAP cube to offer you near-instantaneous report run-times with a high degree of interactivity for data exploration (filtering, slicing, dicing and drill-down).

After a prolonged obsession with the optimization of automated #collection processes, Quantrax, in 2005, set out to develop and evaluate its own scoring technology. Since RMEx is probably the finest workflow engine for account management, a reliable score would greatly enhance a company’s ability to optimally manage its resources and its bottom line. New #scoring #systems announced by the major credit reporting agencies Equifax, Experian and Trans Union are likely to face challenges in the way that those scores are interpreted.

Call Recording

There are many reasons why a #collection operation should record some or all of the telephone activity that takes place within the organization. One reason is that your clients may require you to do this. Another reason is that the recorded conversation can backup the documentation on an account in the event of #legal action against the company based on a #collector being accused of violating specific state laws. The information can also be used as a training tool, and most companies reserve the right to monitor calls to ensure quality and train their personnel.

IVR (Interactive Voice Response) Overview

This section will describe the concepts of #Interactive #Voice #Response (IVR) and then present the features of Quantrax’s IVR platform. IVR is an area that can significantly enhance the #automation levels within your organization. The potential of an IVR ranges from accepting an inbound call and taking simple requests (E.g. “Press 1 to obtain the mailing address for your payment”) to more complex interactive experiences where a series of digitally recorded questions or messages would be played, with the caller being offered different options based on the responses supplied through the telephone keypad. An example would be the setting up a payment arrangement without any agent intervention.

Dialer Integration Explained

While the value of an automated dialer can not be disputed, it is the manner in which it is integrated with your #collection #system the determines its effectiveness. With I-Tel, there is a “real-time” link between the dialer (PC-based) and the “host application”, which in this case is RMEx. With RMEx’s Intelligent Scripting module, dialer scripting is taken to new levels. We give you the ability to display simple client or campaign-driven scripts allowing inexperienced agents to talk to debtors.

A Summary of Dialer Functionality

I-Tel’s great strengths are derived from the sophisticated integration of RMEx with the finest #technology in the dialer industry. Whatever your dialer vendor may say, it is your #collection #software that manages and drives the efficiency of your dialer. The results obtained from your dialer are related to the accounts that it has to work with, more than the abilities of your dialer. Of course, when you have found a way to work the right accounts at the right time, the quality of the dialer will be a factor. Briefly, the benefits of our integrated solution are as follows.

RMEx Functionality

How can you work an account at a fee of 20% and make a profit? How could we address most of these challenges with the existing technologies?

Enter artificial intelligence and expert #systems . “Expert systems” are #computer #programs that can mimic the behavior of a human expert. Artificial intelligence is a term that was created to differentiate it from “human intelligence”, which in spite of its great strengths is also associated with lapses in memory, inconsistencies, fatigue and the need for vacations! In 1990, Quantrax Corporation created a proposal for, designed and built a new system that would have artificial intelligence as its foundation changing the #software landscape forever.

An Overview of RMEx

While the concepts of Artificial Intelligence have been understood for several years, its application to solve common #business problems has been relatively limited. This article discusses the development and use of AI in the #debt #collection industry. The system was initially developed for use in the United States where over US$ 80 billion is annually written-off to bad debt, and about 1.5 million bad checks are processed every day!

RMEx is an excellent choice for #retail collections.

While the concepts of Artificial Intelligence have been understood for several years, its application to solve common business problems has been relatively limited. We have been able to use the concepts of artificial intelligence and added them to a debt #collection system.

#software  

#Automobile Collections

The #collection of automobile debt is a complicated undertaking. Due to many and varied charges from repossession fees, remarketing fees, late fees, and many more misunderstood fees and charges the consumer needs educating. This type of collections requires large amounts of information to be available to the debt collector. RMEx provide solutions for this type of collections as well as cost controls which are highly needed in this vertical.

#software  
Wait while more posts are being loaded