ncoaug advanced collections - ross james, cambridge
DESCRIPTION
Advanced CollectionTRANSCRIPT
Collections agents and their managers can use Oracle Collections to:
Identify delinquent customers
Obtain a snapshot of the customer’s past payment history
Review a customer’s aging data
View key customer collections metrics
Track each delinquency as it moves through the collections lifecycle
Support standard methods of payments that will quickly resolve the delinquent situation
Calculate collections scores for customers
Plan and execute collections strategies to automate as much of the collections
management process as possible
Plan and execute collections dunning plans to automatically send dunning notices
and optionally, schedule dunning callbacks
Attach notes to a customer’s records
Create tasks
Advanced Collections Overview
Advanced Collections Key Features
Delinquency, Broken Promise, and Strategy
Actions Nodes on the Collector’s Work Queue
Collections Header
Operational Data Views
Profile Tab with Metrics Tables
Detailed Collections Histories
Automated Collections Scoring and Strategies
Management
Dunning Plans
Aging Information
Payment Processing
Promise to Pay
Dispute Handling
Adjustment Processing
Payment Reversals
Collections Correspondence
Shared Notes
Creating and Managing Tasks
Attachments
Customizable Tabs
Collections Lifecycle Management
Case Management for Delinquent Leasing
Contracts
Manage Delinquent Loans
Contracts Information
eBusiness Center to support Collections
Universal Work Queue
Universal Work Queue Cont’
The Universal Work Queue
(UWQ) is the source for getting
work.
In the left pane, you can view
Active, Complete or Pending
Delinquent Accounts, Broken
Promises Tasks owned by the
collector that is logged into the
system.
In the right pane, you can view
customers and drilldown on each
customer line. The UWQ columns
can be moved and sorted by any
one column. Changes can be
saved per collector preferences.
Double click on any line to drilldown and open
the Advanced Collections forms.
Collections FormCollection
Record Header
Collection Record Detail
Oracle Advanced Collections - Profile Tab
Profile Tab
The Profile tab is the first tab in the
Collections Center window and
appears on the Collections tab in
eBusiness Center. It provides a
snapshot of delinquent customers
by providing information on
invoices and promises based on a
rolling 12 month calendar.
It provides information about the
last payment made by the
customer and the last customer
interaction. The Delinquencies
table displays all transactions that
have a status of delinquent.
Oracle Advanced Collections – History Tab
History Tab
Use the History tab to view
historic information based on the
selected type, such as dunning or
adjustments.
Collectors have to review and
prove "due diligence" for
collections calls. Collections
agents can see information about
previous interactions that occurred
with a customer about issues
relating to collections activities.
Oracle Advanced Collections - Accounts Tab
Accounts Tab
The Account tab displays
Information about the selected
account. Click the Details Button
for more information about the
selected account.
Additionally, the Customer Master
is available from this screen.
View Credit Information View Existing Role Information that was
Entered in Oracle Receivables
Accounts Tab - Detail Button
Click Cancel to return to the Collections window
View Site Info for the Customer View Account Relationships
Accounts Tab - Detail Button Cont’
Click Cancel to return to the Collections window
When you create relationships between any customer accounts in Oracle Receivables,
you indicate that the relationship is either one-way or reciprocal.
When you apply receipts to an invoice in a one-way relationship, the parent account can
apply receipts to the invoices in the related account, but receipts in the related account
cannot be applied to the parent account's invoices. In other words, the parent can pay for
the child but the child cannot pay for the parent in a one-way relationship.
When applying invoices to commitments, an account can only apply invoices to
commitments that it owns or to commitments of a parent customer account to which it is
related. Reciprocal account relationships allow parties to pay each other's debit items and
enter invoices against each other's commitments.
You can define an unlimited number of customer account relationships.
Guidelines for Account Relationships
Oracle Advanced Collections - Transaction Tab
Transactions Tab
In the Transactions tab select one
of the following transaction classes
for a selected account and date
range:
Invoice, Credit memo, Debit
memo, Chargeback, Deposit
Guarantee,
Select a transaction and click
Transaction Details.
The Transaction Details window
displays the line items for the
transaction.
If you want to send a copy of the
transaction to the customer, then
click Send Copy.
Disputes – Transaction Tab
Debtors often refuse to pay invoices because they do not believe they owe money for a
variety of reasons. Use this procedure to submit a dispute against an invoice (whether or not
it is delinquent). Once created, a dispute is sent to Oracle Receivables via the Credit Memo
Workflow for review and resolution.
In the Transactions tab, select the invoice and click Transaction Details.
If the customer is disputing a specific invoice line item, then perform the following steps:
Select Specific Invoice Lines from the Dispute Section LOV.
Select the line item.
Enter the dispute amount or dispute quantity for the line. If the invoice has no line items,
then the line-item related dispute fields are not accessible.
The application calculates the dispute amount if you enter a dispute quantity. The
dispute amounts are totaled in the Dispute Total field.
Next
If the customer wants to dispute a section of the invoice, then use the LOV in the Dispute
Section field to select one of the following:
Lines subtotal
Shipping
Tax
Total
The total amount for the selected section appears in the Dispute Totals field. Earlier disputes
are not included in the total.
If the customer's dispute is over an expected discount, enter the discount amount.
The amount is calculated using the entered percent against the invoice total prior to shipping
and tax.
Select a dispute reason.
Optionally, enter a note.
Click Dispute.
Disputes – Transaction Tab Cont’
A dispute confirmation message containing a dispute number appears and can be used as a
reference between customer and collector.
Confirmation of the dispute is sent automatically if the necessary profiles are set and a
default One-to-One Fulfillment template is defined.
The dispute creates a Credit Memo Request in Oracle Receivables.
While invoices are in dispute they are no longer labeled as delinquent. Disputed transactions
are recorded in Interaction History, including the transaction number, class, type, date, status,
amount, remaining amount, customer name, and organization.
Disputes – Transaction Tab Cont’
Oracle Advanced Collections - Lifecycle Tab
The Lifecycle tab provides a view
of all of a customer's
delinquencies. Complicated
delinquencies can involve placing
customers on credit or service hold
(used only with Lease
Management), bringing suit to get
payment, repossessing and
reselling assets to cure
delinquencies, write off of assets,
or customer bankruptcy. The
Lifecycle Tab, in conjunction with
various HTML interfaces used by
collections specialists and
managers, supports these latter
stage delinquency processes.
Lifecycle Tab
Oracle Advanced Collections - Aging Tab
Aging Tab Cont’
You can view your customer's outstanding account balances on the Aging tab in Collections.
The Aging tab opens using the default aging bucket defined when you set up Collections, but
you can view account balances using any aging bucket defined in Oracle Receivables. You can
modify your display by specifying an aging bucket or by choosing to summarize open credits.
Collections calculates and displays the total outstanding amounts for the current data level
view, which can be by customer, bill to, or account. Aging per individual delinquency is not
available.
You can view finance charges, approved and pending adjustments, and amounts in
dispute.
You can view the amount of receipts at risk.
If you select to summarize open credits, you can view credits not aged for unapplied cash,
on account cash, on account credits, cash claims, and prepayments.
Select the Transaction button to view all transactions for an aging bucket line. From there
you can select a transaction and view transaction details, process payments, or enter a
dispute.
Aging Tab
Oracle Advanced Collections - Notes Tab
Collectors can enter notes in the
following situations:
Performing any interaction on a
delinquency
Processing a payment
Recording a promise to pay
Processing a dispute
Reversing a payment
Recording delinquency information
Recording later stage delinquency
information such bankruptcy,
litigation, write-off, repossession.
Reviewing cases
Completing a customer interaction
Recording information related to a
task
Notes Tab
Oracle Advanced Collections - Task Tab
Use the Task tab to enter tasks for
follow-up
Tasks for Collectors are available
in the Universal Work Queue.
Task Tab
So How Do You Set UpOracle Advanced Collections?
Setup Options
Dunning Letters
Very simple to set up
Use as a starting point
Become familiar with the
process
Realize benefits faster
Adjust your own procedures
Identify where strategies would
benefit
Strategies
Handle a variety of collection
efforts
Tailor strategies for sets of
customers
Develop different tasks for each
strategy
Assign customers to strategies
More lead time to implement
Handles very complex
collections
Let’s cover the Dunning Letter Setup
Implementation Steps for Dunning Letter Plan
Setup New Responsibilities
Assign Profiles to new
responsibilities for MO and SOB
Assign Responsibilities to users
Setup Party Relations Types
Setup Relationship Types
Setup AR Collectors
Enable AR Summary Tables
Define Resource Hierarchy Group
Assign Roles and Resource Groups
Note: Territory Management Setup
is not required since AC no longer
uses that feature
Assign Collector to the Customer /
Site Profile
Setup the Profiles for Universal
Work Queue
Setup Task Types
Map Task Types
Setup the Scoring Engine
Setup Scoring Components
Assign JTF Admin Rights to
Administrators
Create Fulfillment Engine Dunning
Letters
Create a Dunning Plan
Setup New Responsibilities
Collections Agent
Forms Administrator
HTML Administrator
HTML Manager
Need all four for each operating
unit
Assign Profiles to new responsibilities for MO and SOB
Set MO: Operating Unit
Set GL Set of Books Name
Assign Responsibilities to users
Query each User Name
Fill in Person who is the Collector
Assign the proper responsibility
Setup Party Relations Types
Collections
Collections Of
Dunning
Dunnings Of
Setup Relationship Types
Trading Community Manager
Administration
Relationships
11.5.10.2 Version
Setup AR Collectors
Employee Name matches the Person in the User Screen
Enable AR Summary Tables
Set the AR: Allow Summary Table
Refresh profile option to Yes.
Run the Refresh AR Transactions
Summary Tables
Define Resource Hierarchy Group
“Used in” Tab must include
“Collections”
Assign Roles and Resource Groups
Role Type = Collections
Role = Role for that person
For the Group, assign the
role to that group for that
collector
Assign Collector to the Customer / Site Profile
Customer Level
Only one Org OR
Same collector across all
orgs
Site Level
Different collector depending
on org
Setup the Profiles for Universal Work Queue
Queues Displayed
Customer Delinquencies
Customer Promises
Broken Promises: Customer
My Tasks
Queue Order
State 1 – 4 the order you
want to see the queues
displayed
Setup Task Types
CRM Administration
Map Task Types
CRM Administration
Setup Scoring Engine
Decide what level to score at
Customer (Party)
Account (Customer)
Bill-to
Copy the seeded scoring engine
to your own name
Example: Click “Copy” next to
“Sample Delinquent Account
Scoring Engine”
Scores will be assessed at the
Customer Account level
Setup Scoring Engine - Continued
Enter Score Name
Enter Score Description
Set Enabled Flag to Yes
You are now ready to add
Score Components
Click the Score Components
Button
Setup Scoring Components
Concepts
Scoring Components are those attributes that you determine are important factors
for rating how your customer is performing
Sample components are
Bucket Number
Total dollar value of delinquencies
Total number of delinquencies
Length of time a customer has been a customer
Assign value 1 – 100 to each component value (e.g. 0 - $10,000 = 100 (Best))
Assign a rating (.1 - 1) for each component
Scoring results
Each customer will receive a score of 1 to 100 (100 being good) based on the above
components and ratings assigned to each component – Example follows….
Setup Scoring Components – continued – List of Seeded ComponentsAccount
Account Aging Bucket Line for Account
Account Since
Amount Overdue to Delinquency Threshold (Ratio of loan amount overdue relative to delinquency limit)
Amount of Delinquencies for Account
Number of Delinquencies for Account
Bill-To
Amount of Delinquencies for Bill To
Bill To Aging Bucket Line
Customer Since for Bill To
Number of Delinquencies for Bill To
Party
Customer Since for Party
Number of Delinquencies for Party
Party Aging Bucket Line
Amount of Delinquencies for Party
Setup Scoring Engine - Continued
Pick the Score Components you want to use
Weight their importance to the overall score
For example:
Amount of delinquency is most important
Aging Bucket is almost as important
The number of delinquencies is a factor but not nearly as important
Click on “Detail” for each component
Setup Scoring Engine - Continued
Establish a Low and High range
of values
Assign a value of 1 to 100 for
each range (100 being Best)
Must have 100 and 1
For example:
These are dollar amounts for
total delinquent amounts
Amount <= 0 are Best (100)
Amounts over $1M are
Worst (1)
Repeat for each component
Assign JTF Admin Rights to Administrators
Sign on to CRM HTML Administration -> Users ->User Maintenance to assign JTF
Roles to your administrators
JTF_FM_ADMIN
JTF_SYSTEM_ADMIN_ROLE
Create Fulfillment Engine Dunning Letters (examples)
Sign onto One-to-One Fulfillment
Create Collection Agency Letter Template
Create Reminder Letter Template
Create a Dunning Plan
For each Aging Bucket Line
Enter the Score Range Low and High
Indicate if there should be a callback and, if so, how many days to wait
Enter Delivery method and the Correspondent template
Disable Strategies
Since this example is implementing Dunning
Letters, you MUST:
Set Strategy Disabled to Yes
Assign a default strategy resource
Run the Scoring Request Set
Oracle Collections Concurrent Request Set
Determines which invoices
are delinquent
Determines the score for the
Customer (Party), Account
Customer) or Bill-to
associated with the
delinquencies
Determines if there are broken
promises
Can be run as frequently as you process payments and invoices
Recommendation: Run once a week
Advanced Collections Questions