About Debts Collection Industry

With the increasing debt amount borne by companies especially in the service industry, it has made it senseless to take this matter lightly. The traditional method of hiring lawyers to recover debts or take them to court has become too expensive and sometimes ineffective.

This has led to the emerging of Debts Collection Agencies. Unlike lawyers, they use psychologically driven payment request letters, aggressive telephone persuasion and follow-ups, field visits, and many more proven effective methods. Being charged by a certain percentage of each case (debtor) recovered, the agencies' driving force is fuelled by the fact if they don't collect, then they do not get paid. This way, they consequently are more motivated to collect/recover the debts as compared to the creditor getting it done themselves.

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The Client (Creditor)

The clients are the company who hire the debt collection agencies to collect bad debts on their behalf. Companies providing services e.g. credit card issuing banks and telecommunication companies are two of the biggest clients of the collection agencies.

In order for these companies to report their debts as bad debts in their accounts for taxation purposes, they will have to show that sufficient effort has been taken to recover the debts. Traditionally, these cases will be channeled to the law firm to take action. But when the debt value is too small, it becomes unjustifiable to pay the law firms a fee more than the debts amount. This is where the agencies come in.

Depending on the system implemented by the client, a list of debtors is generated in soft copy (excel, access, FoxPro, rtf, txt or any format at all!) and distributed to the agencies in batches. Each batch can contain up to tens of thousands cases. Once distributed, the agencies are given certain time duration to collect the debts.

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Agencies Collecting Debts the Traditional Way

Upon receiving the batches, the agencies will go through a series of steps to recover the debts. The steps described here are common practices of a typical debt collection agency.

Using the conventional manual method, the cases are randomly distributed among the collectors of the agency on hard copy. Each case will have a follow-up sheet attached.

Collectors start the collection process by printing out demand letters to request for payment. Within 3 days to one week, the collectors will expect calls from the debtors whom they sent the payment request letters to.

After a certain waiting period and the debtor have not contacted the collector, the collector will initiate the call taking down details of each call attempt. If debtor is not contactable, the collector will send the debtor's details to a public search agency to source out for latest contact information. Refer to table in the following page for activity details.

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volaré2004 debt collection

The volaré2004 debt collection management system is a comprehensive Windows based computer software system designed by Stampede Solution to run the A to Z of a debt collection agency's administrative and monitoring routine.

The system is designed based on Stampede Solution's two main principles, SI: Simplicity and Information . Compared to other available Debt Collection System, we have taken the extra step to better understand the users of this system better to give them the exact user interaction interface that they need for their day to day operations. For instance, looking at the volaré2004 from the collector/receivable officer's perspective, you would notice that information is well located and accessible from just one screen. This gives the collector all the information required when talking to a debtor in the nick of time.

With the amount of reports volaré2004 provide (e.g. Commission Reconciliation Report, Collector's Commission Claims, Staff Performance Report, Collection Forecast, Collection Report, Case Aging and Daily Calls/Transactions Summary Report – to name a few), your administrative work is reduced so much now you can focus more on making your business more competitive.

volaré2004 will give you the added advantage when you compete with your competitors to win new clients. With a professional system setup such as volaré2004, your clients would have no reason to doubt your capabilities.

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Compare Stampede Solution to Its Competitor

:: Framework ::

The general workflow that goes around in a Debt Collection Agency is mostly similar to another agency. Stampede Solution however, realizes that there are more to it on a detailed level that puts one agency above another.

What we provide is a ‘Debt Collection Management System' (volaré2004) that acts as an engine to your collection processes. However, most of the time, it is the ‘accessories' of the engine that makes the system run exactly the way you want it to. The ‘accessories' are what we call customization. With our past experiences with many Debt Collection Agencies, we understand what happens on the surface, but with your feedback and experience of running a Debt Collection Agency, we can provide you with a COMPLETE system to your specific needs. This is similar to developing a whole new system just for you at the price of an of-the-shelf software - the only difference is that we have done most of the work upfront that the only thing left to be done when a new client sign up is system enhancement, optimization and customization to your detailed needs. Through this, we are already a step ahead of our competitors.

:: Experience ::

Our experience in developing Debt Collection System enables us to understand your needs better than any other software company. Therefore we spend relatively much less time gathering requirements and needs, thus reducing interruption to your daily operations.

:: Customer Service ::

When you purchase a Stampede product, you are actually purchasing an IT solution service, not just a piece of software.

:: Motivated Team ::

Stampede Solution consists of a young and dynamic team of IT professionals. Each and every one of our team members are trained to undertake every project to a very personal level, resulting in a system beyond your expectation. Talking to any of our team member gives you a sense of security over the success of your system, a feeling you don't always get with other companies.

:: Good Design ::

We are also known for our exquisite screen design and user friendly system interfaces. With the latest Visual Studio .NET components by Microsoft and Stampede Solution's design team's creativity, our system has a sophisticated yet professional look to make the system easier and friendly thus being more interesting to use.

:: Technology ::

Stampede Solution develops all systems on the latest Microsoft .NET technology which gives you mobility, flexibility, scalability and performance – everything a modern software application is suppose to be. A majority of shelved Debt Collection Management System software application in the market is either developed on the legacy Visual Basic 6.0 or runs on a Database Management System which over time, system speed and functionality is at risk. Publishing the system on the internet is going to be next to impossible. We know because we have helped many clients move from these legacy system our system.

:: Price ::

Despite all the features and services mentioned above, our price is among the lowest in the market by at least 15%. The moment a customer sign up for our service, the price is fixed. Customer will not see any hidden costs. Any extra man hours incurred is at our expense.

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System requirement

:: Network Requirements ::

:: Operating System ::

:: PC Requirement ::

- Intel Pentium 3 500mhz or equivalent
- 128mb Memory
- Monitor Resolution 800x600
or 1024x768(recommended)

:: Server Requirement ::

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