New Pegasystems’ Collections Solution Enables Organizations to Collect Debt More Intelligently While Protecting Customer RelationshipsNovember 2, 2010 No Comments
Pegasystems, the leader in business process management (BPM) and a leading provider of customer relationship management (CRM) solutions, today unveiled a new multi-channel solution that enables organizations to more intelligently manage their collections function. Pega Collections, which leverages Pegasystems’ Build for Change® technology, provides a new approach to the collections process, helping organizations rapidly identify the most likely option that will facilitate a positive collection result and present it to the collection agent at time of interaction. This approach delivers significantly higher collections results, while also ensuring positive customer interactions.
Collections and risk executives have traditionally been constrained by inflexible, outdated systems that limit their ability to intelligently collect debt from their customers, resulting in higher than acceptable customer loss rates, unnecessary charge-offs and increased operational costs. Pega Collections helps organizations by giving them powerful, real-time adaptive analytics that select the most effective communication channel, and intelligently guide users through personalized offers that balance customer needs with business objectives. The solution also combines this intelligence with powerful business process automation capabilities, which drive inefficiencies out of the collections operation in all phases of collections management.
Pegasystems’ unique combination of BPM, case management, CRM and decision management capabilities ensures a holistic, customer-centric approach to managing collections. The result is a higher degree of offer acceptance with reduced operational costs and an improved customer experience, supporting both short term improvements in default recoveries and long-term client profitability.
Highlights / Key Facts:
Pega Collections provides organizations with advanced collections functionality to transform operations, including:
· Real-time, interactive decisioning directly delivered to agents, assuring each customer receives a unique experience, optimizing the outcome of every interaction.
· A holistic view of each customer, including past interactions to guarantee compliant, consistent and optimal next-best action driven treatments for customers across all channels.
· Advanced routing, escalation and prioritization through sophisticated channel integration and work management.
· Automated collections processing, client communications and promise-to-pay management to drive out inefficiencies and ensure compliance.
Quotes & Commentary:
Bill Baggott, Vice President of Solution Frameworks at Pegasystems:
“Organizations are looking for a smarter way to manage their collections operations. This new solution enables them to not only work more efficiently, but to also work more intelligently with the advanced decisioning and analytics capabilities that Pegasystems now offers. This unique combination of capabilities in the Pega Collections solution helps an organization ensure that all of its clients receive a consistent level of service, across all channels and interactions, while also instituting business best practices to optimize every interaction and improve outcomes.”
Roy Schulte, Vice President & Distinguished Analyst at Gartner
“Event processing helps companies run faster, and embedded analytics and decision management tools make fast companies run smarter. Companies are augmenting SOA and BPM in two ways: First, they enhance users’ situation awareness by tapping the vast amount of fresh event data available from internal and external sources. Business activity monitoring dashboards and statistical analytic tools provide descriptive and predictive analytics. Second, they implement decision management using prescriptive analytic tools such as rule engines and optimization tools. Companies are able to better tailor their processes to changing conditions and to individual customers, leading to more effective and profitable operations.”APPLICATION INTEGRATION, News, SOCIAL BUSINESS