You've reached the final stage of the legal collection life-cycle. You have an asset and you're ready to file a garnishment and for payments to start coming in. But for most firms, the wait is too long. Here are 3 reasons garnishments aren't paying you fast enough:
- Backlog in producing and filing garnishments
- Not enough resources focused on garnishment follow-up and processing answers
- Lack of insight into your garnishment metrics
At Provana, we have found that dedicating resources towards these key tasks can decrease time to payment by over two weeks. Don't have the staff to focus on garnishments, answers, and follow-up? Consider using Provana's BPM (Business Process Management) services to provide affordable flexible staffing. Provana produces 15,000 garnishments per month and processes 20,000 garnishment answers per month for credit and collections firms. And our IDAP (Integrated Data Analytics Platform) can provide you immediate insight into your garnishment metrics so you can focus efforts on the right files right away. Bonus, in addition to paying you faster, Provana clients experience 25% reduction in total staffing of garnishment processes and reduce cost per garnishment by 50%.
Click here to get a Consult for Provana BPM Services or get a demo of IDAP.