Thought I’d share some thoughts about collection queues. I know, a pretty boring topic for a LinkedIn article! But it’s NOT, I promise you. When you’re immersed in the business of making the best collections software in the world, even agent queues are an opportunity for design improvements. In most loan management software, queues are pretty basic. This is where agents access their accounts in a single list. I’ve seen LMS software with everything from a single queue that all agents must share, to even no queues at all, as was the case with my prior employer—where agents simply “popped” accounts one after another and they never even saw their list. In my humble opinion, agents should have their own queue. But that queue should use AI to help prioritize the agent’s workload via intelligent sorting & filtering. For example, if an account already has a promise to pay that’s pending, there’s no need to call that account today, so its queue status should be “Low” (that’s correct, at Lendisoft we believe queues should get their own status), and those accounts are sorted to the bottom of the list. There are other situations that may classify an account as Low as well, but for those accounts that should get worked today, their queue status is “Due”. And any account that was Due yesterday but didn’t get worked, well, those accounts become “Overdue”, an embarrassing status agents want to avoid. But don’t get me wrong, agents really appreciate this system because it helps them manage their accounts effectively—it helps them be more successful collectors! And so while we give each agent their own queue, we also allow them to “pop accounts” one after the next according to the order of their sortable queue, so they don’t really need to visit their queue very often, but it’s there for them. If you’d like to learn more about Lendisoft LMS’ features, contact us for a demo today!
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