Legal Collections

Legal Collections Definitions

The debt collection industry is a complex, technology-driven industry. This educational guide is to assist those new to the debt collection software industry in understanding terms and definitions.

Collect Screen

The collect screen is the primary source of information for the account representative. Ideally, most of the key information needed during a collection call is available on a single screen, allowing the representative to focus on the call instead of searching for information.

The Artiva Legal collection software system is designed to serve the collection software needs of collection law firms. In this collection software system, all necessary collection information is available at the representative’s fingertips making them more efficient and productive.

Court Docket

The court docket provides a complete view of the attorney’s calendar and workload and prepares the necessary court documents.

The Artiva Legal collection software provides a seven-day docket calendar, management tools and reports, allowing collection attorneys to make decisions with confidence.

Case Management

A case management system enables assigning of attorneys, creating caseload queues and tracking key pieces of information related to the case.

The Artiva Legal collection system provides the power and flexibility needed to manage the legal collection process.

Workflow Management

Workflow strategies allow a legal collection firm to align account activity with collection goals, applying different strategies based on account characteristics.

The Artiva Legal collection software provides collection attorney firms with the tools they need to effectively manage workflow, optimizing efforts to maximize profitability. The Artiva Legal collection software allows managers to use a champion/challenger scenario to test different account strategies.

Reporting

Standard and user-defined reports from the collection software system allow collection attorney firms to monitor inventory and portfolio activities, allowing them to make business decisions with confidence.

Ontario Systems’ Artiva Legal collection software provides portfolio management tools to legal collection firms so necessary information is available at the manager’s fingertips.

Return on Investment

The Artiva Legal collection software system allows collection attorney firms to better manage their internal collections and case loads to quickly show a return on investment.

Collection Dialers/Telephony Technology

Collection dialers and additional telephony technology, such as interactive voice response systems, significantly improve internal collection results by making account representatives more efficient and productive. The account representative speaks only to live voices since the collection dialer screens all no answers, busy signals and disconnects. Interactive voice response systems can be used to answer non-revenue generating questions and set up payment arrangement for some account holders.

Ontario Systems is a leading provider of collection dialers and telephony technology, which is fully integrated with its family of debt collection software products. This integration creates additional efficiency and profitability.

Right-Party Contacts

Combining an automated interactive voice response system with text-to-speech technology allows collection dialers to verify the responsible party is available before connecting the call with a live account representative.

Ontario Systems’ Verified Contacts product is fully integrated with the Artiva collection software system, allowing account representatives to speak only to responsible parties. The Ontario Systems family of collection software products works together, making collection agencies more efficient and profitable