The right solution for the right time in collections and recovery
Extending credit to consumers, debt collections, and collections and recovery on delinquent or charge-off accounts are all complex functions. And outdated solutions or those not designed for such complexities are less efficient. These gaps in functionality put pressure on agents who are trying to meet their goals while adding the challenges of inventory management and, ultimately, lowering recovery rates.
Latitude by Genesys® provides the complete answer to your accounts receivables challenges— from day one delinquency through charge-off and debt sale. By bridging your servicing platform with Latitude, all the necessary information—current and historic—is available to agents in a single desktop on a single platform. This leads to a better customer experience, improved recovery rates and increased agent effectiveness.
Latitude by Genesys is a standalone product that integrates with the Genesys Cloud CX™, PureConnect™ and Genesys Multicloud CX™ platforms.
Full knowledge is power
Information is critical in effectively managing your collection-and-recovery process as well as business processes—from front-end collections to maintaining compliance against your internal service levels and ensuring that the back office functions smoothly.
Latitude provides access to all information on every account through its Account Analysis query and reporting tool, as well as configurable dashboards for data visualization. It enables you to fully understand the state of your inventory as accounts move through the collection-and recovery process.
You also can build reusable queries for reporting or to drive business processes, build work queues, manage account activities, populate dashboards or drive business process automation with the Latitude Workflow engine.
If you outsource your accounts to partners for collections and recovery, Latitude provides complete end-to-end functionality via the Agency Interface Manager (AIM). Whether you use a simple outsourcing approach or complex multi-tier placement strategies, you define the strategy and controls to fully automate the outsourcing process.
Timely updates to both you and your partners’ systems are possible via complete bidirectional data exchanges for all critical information in the collection-and-recovery process. A certification program ensures the accurate exchange of information with partners.
Understanding partner performance and compliance metrics is critical to the agency management process. Rich reporting and query capabilities give you complete insights into how your partners are performing both individually and comparatively.
Business process automation
Managing your collection-and-recovery processes requires assurances that they’re performed consistently and in accordance with your policies—this is the role of process automation.
The Latitude Workflow automation tool offers a powerful drag-and-drop workflow designer that lets business users design, test and deploy process automation within your environment, without the need for IT resources.
It extends beyond the capabilities of a traditional automation tool that reacts to actions or events. Latitude Workflow lets you to build process automation based on the evaluation of any data point or a combination of data points on an account. And you can use it with any frequency necessary.
Exchange data with other systems or platforms
Data exchange from within the collectionand-recovery platform to other platforms or solutions, such as data warehouses or business intelligence platforms, is critical for credit grantors or collection operations.
The Latitude Exchange, Extract, Transform and Load (ETL) tool lets you extract or ingest information without using expensive IT resources to develop complex integrations. The drag-and-drop data-mapping tool lets you create simple or complex data interfaces.
In many businesses, third-party vendors who offer best-in-class functionality are needed to conduct collections and recovery activities. Prebuilt integrations in Latitude make it easy to fully integrate with multiple service providers for mail generation, skip-trace functionality, payment processing and data enrichment providers—saving your valuable development resources.