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Debt Collection/Recovery Management - Web (India)

Project Overview

MAS Financial Services Limited (Ahmedabad, India) - Collection/ Debt Recovery Management System comprehensively addresses the needs of Financial Institutions that require an advanced tool for managing their Collection operations. The solution streamlines the entire collection process, reducing write-offs and provisioning, improving cash-flow, and allowing financial institutions to enhance their customer relationships, facilitating future sales opportunities.

  • Finance
  • Finance
  • MAS Financial Services Limited
  • Ahmedabad, Gujarat, India
  • 1 Year
  • https://www.mas.co.in/
  • https://www.cittasolutions.com/

Pain Areas

  • Oral Contracts: Oral contracts are verbal, without any written record of the same. That means that if the terms of the contract are not met, both the parties have no paper trail to follow and prove that such a contract was ever made, which will render the aggrieved party helpless as they will not be able to challenge it in the court as well.
  • Faulty Written Agreements: Written agreements are better than oral contracts, wherein the existence of the contract can definitely be proved easily, but this also comes with another set of problems altogether. Apart from being poorly drafted, the parties involved in many written agreements are not habituated to get a grip of the undersigned terms and conditions of the contract.
  • Money Recovery Issues: Some of the most basic problems with regards to recovery of debts are the t&c of the contract entered into, how valid are they? What is a certainty? What is the financial background of the parties entering into the contract?
  • No Real-Time Collection Methods:  One of the major roadblocks in the process of debt recovery is the absence of real-time collaboration between the borrower and the collector. This is a huge challenge faced by all collection agents.
  • Contacting Wrong People: Many times collectors end up calling debtors who have long paid off their debts, just because their records are not updated for the same. Again, an ineffective communication process is to be blamed. 
  • Inefficient Processes: The debt collection process has not kept pace with the changing business environment and continues to function as it has been handed down for decades. There is no proper segmentation done for the customers.

Solutions

  • Strong Focus on Priority Accounts and Delinquent Cases: Prioritizing individual cases manually can be time-consuming. It is also prone to errors. Debt Collection/Recovery management software can assign priorities to accounts based on the borrowers’ profile information including – DPD, asset classification, due amount, wilful defaulter,  product type, delinquency bucket classification, and fraud identification.
  • Track Debt Collectors Performance: Lenders acknowledge that the inability to track their field agent’s activities on the field is a pressing concern for them. Debt collection system automation can detect and prevent your agents from signing-in from a fake location.
  • Improve Collector’s Productivity:  Mobile debt collection software helps collectors to remain productive while being on the field. Reminder notifications, day planner, and route guidance are some of the sought-after features that impact productivity. 
  • Measure and Analyze the Performance: With smart dashboards, actionable insights on borrower profiles, agent performances, active liabilities, pending payments, ongoing payment activities, and more are at disposition for leaders. 

Features

Innumerable features that are sensitive and designed to give your business a more convenient and reliable intelligent experience. Below we have listed down some of the primary features of the solution:

  • Workflow-based Modeling of Actions, Including Exceptions Handling
  • Preparation and Negotiation of Binding Agreements with Third-party Collectors and Legal Agencies
  • Legal Action Budget Analysis and Expenses Management
  • Rule-based case Assignment to either Internal or External Legal Agents
  • EMI Collection Module
  • Route Mapping for agents
  • Hardware Integration
  • Portable Bluetooth Printer for instant Receipt Generation on the Field
  • Capture, Classification, and Approval of all Relevant Expenses
  • Real-time Preparation of Settlement Invoices
  • Agent Performance Evaluation

Benefits

Your efficiencies can tend to wane if you are not utilizing all of your information in productive ways. Let’s now quickly discuss what are the primary business benefits of the system. Below we have listed down some of the primary benefits of the solution:

  • Seamless integration with third-party systems for Credit Lines, Collaterals and Non-delinquent customer facilities
  • A highly sophisticated ‘self-learning’ environment which facilitates the forecasting of future operational requirements
  • Historical data, along with calculated metrics, measures the operational efficiency, advising on Capacity Planning and Financial KPI

Modules

The Solution has a wide feature index and its capabilities have helped many businesses manage its operations & traditional processes in much-organized manner. Here are some of the most important modules of the leading software:

  • Document Generation Module
  • Document Management Module
  • Financial Spreading Module
  • Collateral Module
  • Company Relations Module
  • Covenant Module
  • Process Management Module
  • Integration Management Module
  • User Management Module
  • Print Module

Technology

Version Control

VisualSVN

Development Skills

ASP.NET MVC React Native

Databases

Microsoft SQL Server

Frontend

HTML CSS CSS3 Jquery Java script

Backend/Programing Lang.

C#

Development Deliverables

API API Integration Database Design Database Development Database Architecture Website Optimization

Web Servers

Microsoft IIS

IDE/Tools

Microsoft Visual Studio

Compatibility

Google Chrome Mozilla Firefox

Operating System

Google Chrome Mozilla Firefox

Hardware/Devices

PC

Rajan Shah

CTO - MAS Financial Services Limited - Ahmedabad, Gujarat, India

"Citta Solutions Pvt. Ltd. executes the design of a site exactly the way it is provided or suggests ways to improve navigation, usability, and scalability. Citta Solutions Pvt. Ltd. is a pleasure to work with and I highly recommend the company to graphic designers who want a website done the way they envision it."

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