how does eCOLLECT work?

In order to assist with the collections process, eCOLLECT manages three internal databases - payment plans, customers and collections - providing all the information required to create, manage and process DD collections. New 'payment plans' are created through a user friendly wizard which allows you to specify the type, interval and duration of collection you require. Standard customer contact details are stored within the 'customer' database which can be updated manually or through automated data import.

The information required to set up customers, payment plans, new collections etc. can be manually entered into eCOLLECT for automated scheduling and processing. Alternatively, customer and collection data can be imported into eCOLLECT from a 3rd party application, such as your accounts package, ideal for the migration of large amounts of data. The built-in scheduler allows the exact level of automation you require, with the ability to automate almost any task or activity within eCOLLECT, including data import and the set-up, amendment or cancellation of payment plans and customers.

click to enlarge

The 'collections' database acts as a link between the payment plan and customer data, detailing the sort code, account number and payment plan required. On data entry into the 'collections' database, eCOLLECT performs validation of the sort code and account number, ensuring greater accuracy of funds collections and reducing costly collection failures.

Once a new DD collection has been established, eCOLLECT automatically creates and sends an AUDDIS file (required by Bacs in order to set-up a new DD), and prepares advance notification data for onward delivery to the customer. Using Albany's eCOLLECT solution, advance notifications can be automatically delivered electronically to the relevant customer, reducing costly and time-consuming printing and posting of documents.

eCOLLECT manages the entire life-cycle of each DD collection, preparing the relevant collection export files when required, ready for onward delivery to Bacs. Using eCOLLECT together with one of Albany's Bacs solutions, such as ALBACSenterprise, the preparation and delivery of collection files and the management of any Bacs advices (AUDDIS, ADDACS and ARUDD) can be entirely automated, significantly streamlining your collections process.

case studies »