December 1, 2021
PRESS RELEASE – FOR IMMEDIATE RELEASE
Large Government Organization Increases Collections Productivity by 30% Using Sharetec’s Specialist Collections Software
LINO LAKES, MN – Sharetec System, one of the fastest growing core systems, bold technology, caring partner, proudly announces the success of its Specialist Collections Software, Rocket Collector, in helping a large government management organization increase its collections productivity by 30%, along with a multitude of other improvements.
Serving a population of 149,000, the organization had recently undergone a transformation to centralize its debt management function. Collections for the various payments due were being centralized to improve average performance. While this effort produced positive results, there was still room for improvement to drive a best-practice approach.
The organization was frustrated by their existing system’s limitations and inefficiencies. Key challenges included large volumes of cases and insufficient staff, inability to prioritize workloads, working from long, static lists which led to missed accounts, and mounting arrears from lengthy payment reconciliation (up to three weeks). Debtors were also forming bad habits as they were often not contacted in a timely manner after missed payments.
The organization engaged an external consultant to identify weaknesses in their existing debt collection processes. They then scoped out the requirements for a software package to improve their collections. A comprehensive bid process was conducted which resulted in Rocket Collector being awarded the contract.
The organization saw the solution as excellent value that would provide the advanced functionality they required. Rocket Collector could help them reduce costs, collect more debt, and save substantial time by integrating with their existing system. Its proven track record, rapid implementation, exceptional support, reliability, security, flexibility, and ease of use also swayed the organization, as well as its far-reaching versatility in serving a variety of industries.
Head of Management Accounting for the organization stated, “We have saved a huge amount of time as a result of the new system, which I never envisioned. It will more than pay for itself. My only regret is we didn’t get it years ago.”
The organization has accomplished the complete integration and automation of its financial management operations, resulting in maximum business efficiency, revenue/debt recovery success and more. They expect the return on investment to be substantial as they continue to benefit from all that Rocket Collector has to offer. Learn more at rocketcollector.com.
To read the full case study, click here.
About Sharetec System
Sharetec is a leading provider of software for credit unions and their members. Since its establishment in 1993, Sharetec has grown steadily to over 280 credit unions, 50 of which have chosen Sharetec just in the last 3 years. With 5 offices across the US, Sharetec looks to establish an even larger footprint not just domestically but globally, currently serving all US territories and the Caribbean.
This information contained in this press release is accurate at the time of publication. However, specified information may change over time. Terms and Conditions