Enhancing Collectors’ Efficiency with goCollect's Automated and Optimized Route Planning Feature

Problem Statement:

Collectors in the lending industry face the daunting task of complete multiple assigned PTP and high priorities collection visits within the working hours. Without proper route planning, they risk wasting valuable time and resources on unnecessary travel. Furthermore, the absence of upfront knowledge regarding the required travel distances can result in incomplete visits and unsuccessful collection.

Solution:

For NBFCs that lends to the low income section of the society residing in Tier 2, 3 and 4+ cities, collectors play a very crucial role in ensuring the targeted collection revenues are achieved for the day and month. However, managing such multiple assigned visits and covering significant distances in a day can be challenging. That's where goCollect's automated and optimized route planning comes in. With this innovative feature, collector can instantly view the fastest route for collecting maximum EMI dues from different borrowers’ location

1) Visualize Optimized Routes on the Map:

Credility's Debt Collection Software mobile app provides collector with a visual representation of their optimized routes right at the start of the day. With the routes clearly displayed on a map, collector can easily understand the sequence of priority visit cases and plan their schedules accordingly. This enables them to efficiently navigate through the day's tasks, optimize travel time and maximizing collections.

2) Priority Setting for Visits:

Team leaders play a critical role in guiding collectors towards successful outcomes. With goCollect's route planning, team leaders have the flexibility to set priority levels for each visit. By assigning priorities, they can ensure that critical cases or time-sensitive PTPs are addressed promptly, enhancing overall collection efficiency.

3) Conveyance Expense Management:

Managing conveyance expenses is a vital aspect of any field operation. With goCollect, automated and optimized route planning feature overall travel distances can be optimized, resulting in reduced fuel costs and save a lot of conveyance expenses for the NBFCs and its management. Following the planned routes allows for close to accurate estimation and tracking of conveyance expenses, simplifying the reimbursement process for both collectors and the finance department.

Conclusion:

In the highly competitive lending industry, optimizing collections is vital for success of any financial lending institutions. With Credility goCollect's automated and optimized route planning, lending companies can empower their collector with the tools to enhance collection efficiency and optimize conveyance expenses and its management. By leveraging this innovative feature, lenders can streamline their collections, reduce costs, and ultimately increase their collection revenues with same or less number of on field collectors. Embrace goCollect and unlock the true potential of your collection department today.