The collection process can sometimes be a difficult one. In fact, many companies utilize third-party collections to make the process easier because they’re unable to do collections on their own. However, collections doesn’t need to be a complicated and frustrating process, whether you’re doing it on your own or for another group. Tracers’s public records search engine makes it much easier for you to handle your collections and recovery process.
Pinpoint Right-Party Contact As Quickly As Possible
“Right-party contact” is an extremely important phrase you’ll probably hear from many collection agencies. Although this can seem like a complicated phrase, it’s actually pretty straightforward. It refers to the way you’re able to contact the right party every time. With right-party contact, you don’t have to worry about trying to contact someone over and over again.
Of course, when you’re working with someone who’s intentionally skipped town, you’re going to need different tools. With these more difficult cases, many corporations and collections agencies instead work with Tracers’s public records search engine. This tool gives you access to right-party contact more quickly.
Utilize Pricing Plans That Fit Your Needs
Different organizations have different budgets for their collections process. You need to spend as little money as you can so you can make more money on the back end. That means you might not have the money to pay for top-tier public records search engine options — or, at least, that might be what you think.
The fact is that Tracers offers many different pricing plans, all of which fit a different need. Whether you’re a small business attempting to handle dozens of cases every day or you’re a huge corporation that runs through hundreds of individuals each day, you can find a pricing plan that fits your needs.
Integrate Tracers in Any Way You Need
There are many methods of integration for Tracers. If you’re looking for the best possible information, Tracers is definitely a great way to get that information, but how are you going to access it? The good news is that Tracers offers three different options for search integration:
These different methods play to different organizations’ needs. For example, if your organization needs to go through thousands of searches per week, batch processing is probably the right option. If you’re just needing a few searches every so often, traditional individual searches can probably help.
Shorten Your Collection Lifecycle
The collection lifecycle refers to the way in which an account becomes overdue, goes to collections, then goes through the collections process until the company can collect on the debt. Ideally, you want that lifecycle to be extremely short. That means handling your collections as quickly and efficiently as you can.
Shortening your collection lifecycle starts from the very beginning. You want to have a thorough process for moving accounts to collections, and you want each account that goes to collections to go through a specific routine. Tracers can make that routine much easier, no matter what you’re currently doing.
Maximize Collections and Profit
At the end of the day, collections’ profit has to do with how many accounts it can collect on. If you work for collections, whether it’s third-party or first-party collections, it’s extremely important that you make the collection process as easy as possible. That’s the only way you’ll end up with acceptable profits.
The best part about Tracers is the fact that it can directly make it easier for you to maximize your profit. When you use Tracers for right-party contact, skip tracing, and other collections opportunities, you’re making those processes function more effectively. That, in turn, is what makes it easier to maximize your organization’s profit.
"Finally a solution that makes it easier for corporate and private organizations to get to the information that they need to get the job done quickly and efficiently. Having used similar solutions since the very beginning of their entry into the market, I can tell you I've had the opportunity to utilize nearly all of the solutions available on the market. Simply put, Enformion has done what others have forgotten, create and deliver a solution with the end user in mind."
Security Operations Executive
What Tools Does Tracers Have for Collection and Recovery?
When you’re handling collection and recovery, you need the best tools in the business. Any tools that don’t have all the information necessary to maximize your collection and recovery options will always be inferior to tools with better information. Through Tracers, you can uncover all this information, plus more:
- Current landlines
- Cell phones
- Address history
This is all information you might need to track someone down and manage your collections needs. Whether you’re handling collections as a full-time job or you’re just managing collections for your company, make sure you have the best tools in the business. Utilize only Tracers’s public records search engine and you’ll get access to up-to-date knowledge about nearly anyone.