About Setting Up Your Collections Policy

Overview

Using the Policy Administration features, you structure and automate your collections policy to increase the efficiency and timeliness of your collections activity. Through Policy Administration, you can assign strategies to Champion and Challenger strategies that provide the information you need to evaluate and improve your collection practices.

As the Strategist, Policy Administration enables you to define the following:

• Strategies that define both autonomous tasks performed by eCredit, and user tasks performed by a collector, either using eCredit features or performed outside the application. Strategies also specify the timing of both task types.

• Segments of invoices that require a common strategy.

• Workgroups of collectors who have the skills to handle a particular type of invoice.

• Rulesets that provide the logic for how eCredit assigns invoices to work groups and to segments.

Through an interface with your Order Management/Distribution system, eCredit assigns invoices to collectors and to segments using the rulesets you define. Using the timing you specify in the strategy, eCredit performs autonomous tasks and creates action items in the assigned collectors work queue.

Champion and Challenger Strategies

eCredit generates effectiveness metrics for your best practices known as Champion strategies. You can also create strategies that are refinements of your best practices. These refinements are called Challenger strategies. eCredit generates effectiveness metrics for strategies, and enables you to compare the effectiveness of competing strategies. More

Getting Started  

Together the segment and workgroup rulesets include the logic and all the components eCredit uses to automate your collections policy.

The segment ruleset includes the following:

• The logic for assigning invoices to a collections strategy

• The names of all the segments your policy requires.

• The strategies that you need to define. Since you associate a strategy with each segment, the segment ruleset infers the strategies to be defined.

The workgroup ruleset includes:

• The logic for assigning collectors to accounts

• The names of all the collector workgroups you need to define

When you define these rulesets you have defined the logic underlying your collections policy, and have referenced all the components eCredit requires to automate your policy.

Note:  Although you formulate the rulesets first, they are the last component that you enter into eCredit. You enter the strategies, segments, and workgroups referenced by the ruleset first to ensure that these components are available in the selection lists when you enter the ruleset.

Entering Your Collections Policy into eCredit

After you have defined your segment and workgroup ruleset, you are ready to enter your collections policy into eCredit. When entering your collections policy into eCredit, you follow the following order. Following this order ensures that the components needed to define the policy are available in selections lists.
 

Related topics

• Strategy Setup

• Segments

• Workgroups

• Rulesets for Strategies

• Bulk Invoice Reassignment

• Bulk Action Item Completion