The process of managing multiple relationships with collection agencies can be highly manual and complex, creating a lack of efficiency and transparency for both the company and agency
New York, NY (Vocus) April 21, 2010
SunGard’s AvantGard now offers an agency placement portal as an extension of its AvantGard Receivables solution to help credit professionals streamline the placement of claims with collection agencies. Agencies will benefit from earlier and more complete transmission of claims helping them deliver enhanced service to their clients. AvantGard Receivables is a comprehensive solution offering credit risk, collections, dispute management and cash application processing.
The AvantGard Agency Placement Portal helps companies process, prepare and transfer information on accounts and invoices that are designated for a collection agency. The integrated solution offers workflow that can help companies streamline what is typically a cumbersome and time consuming process involving multiple systems and formats. It also helps manage multiple agency relationships by tracking results and delivering standardized reporting. The portal can operate with any agency and offers pre-built interfaces to preferred agencies within the AvantGard EcoSystem community.
“The process of managing multiple relationships with collection agencies can be highly manual and complex, creating a lack of efficiency and transparency for both the company and agency,” said David Schmidt, founder and principal of A2 Resources, a consultancy firm focused on credit and collections best practices. “For this reason, many clients and agencies are migrating toward technology that provides portal access and advances in networking, resulting in an improvement in claims recovery.”
“SunGard’s AvantGard Agency Placement Portal can help companies improve and automate the process of sending claims to collection agencies,” said Jim Mangano, senior vice president of receivables solutions for SunGard’s AvantGard business unit, “The solution manages the placement of accounts and invoices, as well as puts controls into place for the tracking, reporting and reconciliation of all collections data that is placed at an agency. Faster and earlier delivery of claims will help improve recovery rates, helping agencies to deliver an even greater level of service to their customers.”
For a more detailed discussion of collection claim processing, you can access David Schmidt’s whitepaper, Taking the Pain Out of Collection Claim Processing, here: http://www.sungard.com/campaigns/fs/corporations/acrosstheecosystem/solutions/receivables/agencyplacementportal.aspx
About SunGard’s AvantGard
SunGard’s AvantGard is a leading liquidity management solution for corporations, insurance companies and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around receivables, treasury and payments. AvantGard helps companies drive free cash flow and reduce inefficiencies across the EcoSystem of suppliers, buyers, banks and other trading partners. For more information, visit http://www.sungard.com/avantgard.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
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