Amicable debt collection in iMX
iMX comes with all business procedures necessary for debt collection at the various stages called ‘amicable’.
Without incident: Managing cases in which no incident has occurred with the possibility to put preventive dunning into place.
Amicable phase: Managing unpaid invoices with the possibility to adopt a multi-level approach to debt-collection by type of debt and client.
Event of default/termination: Managing contract breaches with all related accounting consequences (outstanding principal, contractual or termination indemnities…)
Adopt a customized approach and challenge your dunning strategies.
Using dunning strategies is the process of methodically communicating with customers to ensure the collection of accounts receivable. iMX is equipped with tools which allow you to optimize your amicable debt collection processes, leaving you free to parameterize your strategies/segments: organize the dunning timeframes and stages of the amicable debt collection plan, and adapt the mode of communication to the case product or any other criteria present in the system (internal/external scoring, payment habits, aging, etc.)
Then challenge your strategies in relation to the remaining ones in order to determine the most efficient ones in terms of recovery and costs.
Anticipate debt collection costs and keep them down depending on the strategies applied.
Restructuring / Renegotiation
Allows you to renegotiate payment schedules, as well as restructure a client’s debt.
Case structure allowing complete follow-up on the debt collection process
Financial elements which make up the debt, parties (internal and external) involved in the lifecycle of the case, documents which have been sent and received (dunning letters, statements, contracts , etc.): the iMX case allows for rigorous follow-up on all actions taken in order to recover the debts.
iMX allows you to follow the outsourcing of the receivables by entrusting them to external service providers (amicable bailiffs, external debt collection agencies, specialized service providers , etc.). The features available in the system allow you to determine automatically the parties competent to manage the case based on geographic criteria, type of receivables, etc. The management of sales/purchase orders and the verification of the invoices of the parties involved are also possible.