We shared reader’s feedback with you in the last post.
One more process that we had talked about was:
- Actual collections through on-site agents
Normally this is an onsite activity, based on the geography where the client’s customers are placed. Usually, an off-shore unit will not handle this directly, but be supportive by providing MIS and specific details to a collector.
Sometimes a near-shore or on-shore back office handles this.
Some activities would comprise of:
- Visiting the customer to deliver letters
- Visiting customers for collection of payment / payment advise / payment proofs
- Sometimes this may involve collection of cash
- Deposit of the payment in bank accounts
- Dispatch / scan of proofs and other details for amounts collected / proofs collected
They payouts of this activity are normally on a percentage of amount collected basis. For proofs, it may be based on hourly efforts or other mechanisms as may be agreed.
This activity is outsourced normally to professional on-shore agencies, who have relevant experience.
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