Debt Collection Letter Workflows: How Transparent Is Your Critical Communications Partner?
One of the biggest challenges debt collection letter agencies have is tracking debt collection letters to consumers. Scaling such an operation is a massive undertaking unless you have the right technology. To have complete transparency in the process, your company needs to know everything about those letters once the data leaves you and is passed along to your critical communications partner. The question is, do you know the path of every letter sent? Because if you don’t, you could find yourself in a position of being exposed.
Challenges in Debt Collection Letter Workflows
Most vendors in the industry don’t have a comprehensive way to track debt collection letter mailings. It requires a robust technology infrastructure that monitors the entire life cycle of the letter. Some providers of print and mail services may have some type of tracking application; however, it may be hard to navigate and not always accurate.
Without such a debt collection letter tracking system in place, your current vendor may only provide you with the option to use certified mail or USPS tracking capabilities, which can be extremely costly no matter the volume of letters you send.
Without a turnkey tracking platform, you won’t have the clarity to know if the right letter made it to the right person. This is essential to remaining in compliance with the laws that govern debt collection letter communication, so you can’t afford to make assumptions.
These are all legitimate concerns that your current partner might not be able to alleviate. How can you meet the needs of your customers with solutions that don’t provide complete transparency? You can’t, so it’s time to find a partner that can help.
Debt Collection Letter Transparency Is Possible with trakPCI
trakPCI from PCI Group is a business document management platform that tracks communications. With the application, you’ll have full access to your account records. You can quickly monitor the status of each document from the time data arrives to the letter’s delivery by the postal service. Using the trakPCI dashboard, you have the ability to track, schedule, and control all your jobs, delivering 100% transparency.
No other tool on the market gives you the freedom of trakPCI, delivering real-time reporting, full disclosure of all critical account information, and access to postal costs and expenses.
trakPCI has been a gamechanger for the ARM Collections industry. Our long history of being a partner to the ARM industry was a big motivator in developing our platform because time and time again, we heard about the importance of transparency.
In working with a national accounts receivable management company, the CEO told us about the criteria that most mattered to him, and transparency of process was a significant driver in making the decision. He wanted to be able not just to ensure the letter was mailed on time and sent to the correct consumer but also complete transparency into the whole process.
In evaluating all vendors, PCI Group came out on top because of the control, access, and visibility for debt collection letter services we provide. We are glad to count this customer and over 100 more as customers, delivering to them exceptional quality and transparency.
Find out why so many in the industry trust us as their critical communications partner. Get in touch today to learn more about our solutions.