LoanOffice is a specialized system for companies that need to actively control collection of a medium to large number of claims divided into various portfolios. LoanOffice provides system support for the whole process of claims collection – from soft collection to activities of legal collection.

Thanks to the application modularity, scalability and flexibility of the licensing policy, the LoanOffice suitable is for corporations, whose portfolios number up to tens of thousands as well as for creditors or debt-collection agencies who manage debt collection of smaller portfolios but require professional and economic solution without compromise.

Key benefits

• consolidation and management of claims collection process
• centralization of overdue-debt/claim information
• automation of soft collection process
• management of the communication process and data exchange with third party collection agents
• ability of data gathering for evaluating effectiveness of collection process
• system modularity
• continuous development of the application
• system open for changes and customer specific delivery

Soft collection support

At an early stage of delinquency it is desirable to make the collection activities as fast and effective as possible. The process should be standardized and automated. Process standardization enables timely communication with the debtor exactly according to the set schedule of collection.

To manage the soft collection process with a minimum employment of human resources LoanOffice offers especially:

• automated grouping of claims according to the required process parameters of early collection
• semi or fully automated generation of communication with debtors (reminders, sms)
• support of outsourced document printing (connection to PostService of the Czech Post)
• basic functions of call-center (distribution of calls to operators, registration of calls, etc.)

Hard collection support

Depending on the defined strategy - before the end or during the soft collection process - LoanOffice supports the communication of selected claims portfolio to external debt-collection agencies (ECA) or law firms (LF):

• automated selection of claims to be comitted to ECA/LF
• creation of homogeneous portfolios according to the defined parameters (the amount of the claim, product mix, territorial jurisdiction, etc.)
• automated data exchange with ECA/LF

Legal collection support

In case that your company performs in-house legal actions to recover amounts due, you will benefit from a comprehensive register of court and other legal proceedings. LoanOffice will help you follow on important deadlines and will provide your legal collection agenda managers with a comprehensive overview of the ongoing proceedings.

Among other functions LoanOffice will also allow you to monitor your clients’ portfolio in the Czech insolvency register and in case of a positive match it will make submitting your claims faster and easier.

General features of LoanOffice

In addition to provided support of the collection process, LoanOffice meets the standard requirements in the field of management and recovery of claims:

• automated gathering and processing of incoming payments
• flexible interest accrual using online interest rates
• back-calculation of interest and modelling of the future debt
• filing and monitoring of installment agreements
• generating of print outputs from predefined user-modified templates
• advanced user management (task scheduling and control)
• detailed definition of access rights

Usability of LoanOffice

LoanOffice is useful particularly for companies that:

• collect overdue debts on their own and would like to make this process more effective and well-maintained,
• submit their overdue claims to external debt-collection agencies and need to have this process under control,
• want to keep well-arranged records of collection procedures by the legal process, and make the preparation of data for judicial and other processes more effective,
• want to monitor their portfolio of clients against the Czech insolvency register
• store information about claims in a heterogeneous environment of their information systems and want to centralize this information and make it available from a single point of access for purposes of the collection process.

Consulting services

Besides implementation of LoanOffice and its adjustment to required needs, we also provide advisory and consultancy services. Our analysts have experience in the recovery and administration of claims from banks, leasing companies and companies providing consumer credit in the Czech market.

The range of provided services includes:

• analysis of the current state of the collection process and recommendation of new procedures resulting in continuous improvement of processes and higher efficiency of collection,
• advisory services in specific areas of collection (early, late, insolvency, and the likes),
• definition of collection strategies for different types of debtors,
• design and recommendation of concepts of claims management for individual portfolios,
• organizational and procedural recommendations for management and administration of claims,
• presentation of appropriate tools of monitoring and eveluating the collection process and management of claims.