Accounts Receivable Management Featured Article

AR Management: LexisNexis Launches New Solution for Receivables Management

February 07, 2012

Receivables and billings translates to cash, and how to go about receiving said cash is what can make or break the accounts receivable department. Collection offices, however, have a myriad of tasks that go far beyond just getting money. The effective and timely recovery of debts is essential, otherwise, a company runs the risk of incurring huge losses.

For debt buyers and collection law firms, LexisNexis launched its newest in receivables management that caters specifically to these industries. The LexisNexis (News - Alert) Scoring Solutions and Collect Point Vendor Manager were released at the recent annual Debt Buyer Association (DBA) conference in Las Vegas, Nevada.

A company can succeed in recovering debts if they have a proper follow-up procedure that deals with the debtors in a subtle and persistent manner. With Collection Attributes under LexisNexis’ latest solution, users can analytical performance by supplementing in-house data, including credit data, with hundreds of revealing “alternative data” attributes for improved scoring performance and predictive capabilities, according to the press release.

“In today’s recovery industry where efficiency and performance management is the name of the game, collection organizations are seeking new easy-to-use ’cloud based’ vendor management tools to better manage their outsourced recovery and collections processes” said Robert Fite, vice president, Receivables Management for LexisNexis.

Debt collection should be done in such a manner that not only recovers the outstanding amounts due, but also strengthens vendor relations. With Collect Point Vendor Manager, customers get the help they need while vendor revenue is increased.

By using a software solution, companies can recover an old debt and save the expense of hiring a collection agency. This means the software can save money and improve profitability.



Michelle Amodio is a TMCnet contributor. She has helped promote companies and groups in all industries, from technology to banking to professional roller derby. She holds a bachelor's degree in Writing from Endicott College and currently works in marketing, journalism, and public relations as a freelancer.

Edited by Jennifer Russell

Article comments powered by Disqus

Related Accounts Receivable Management Articles

MRI Software Partners with Hunter Warfield

MRI Software, a company that offers property management software solutions, recently announced that Hunter Warfield, a revenue recovery agency for the multifamily industry, has joined MRI Partner Connect program. Hunter Warfield is the first MRI Partner in the debt collections industry. Being the newest member of MRI Partner Connect program, Hunter Warfield will be able to offer MRI's products and solutions to its clients. [ Read More ]
10/21/2014

CSG's Video Billing Initiative keeps Pace with Time Warner's Seasoned Customers

Whether it's an offshoot of wanting to genuinely enhance customer service or whether it's another gimmick to stay alive in a world of cut-throat competition, we'll never know, but no matter what it is, cable companies are coming out with new ways to increase customer loyalty and reduce service cost. Time Warner is going next-generation with its customer care and is now wooing customers with CSG's video billing initiative- SmartVideo. [ Read More ]
10/14/2014

Esker Energizes Direct Energie with Digitized Handling of Vendor Invoices

Document management solutions provider Esker helps DIrect Energie automate accounts payable. [ Read More ]
10/13/2014

Alta Vista Technology Enhances Its Portfolio with Intacct Cloud Financial Applications

Alta Vista Technology adds Intacct cloud-based financial system to its capabilities. [ Read More ]
10/13/2014
FREE Accounts Receivable Management enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!


Weekly Live Demo
CaaS Small Center

Register Today!