Business Process: 4.3.2.1 Manage Collection Process
Parent Process: 4.3.2 Perform Collection Activities
Sibling Processes: 4.3.2.2 Manage Severance Process, 4.3.2.3a Manage Pay Plan, 4.3.2.4a Manage Payment Arrangement, 4.3.2.5a Manage Late Payment Charge, 4.3.2.6 Write Off Uncollectable Receivables 4.3.2.7 Manage Collection Agency Referral, 4.3.2.8 Manage Bankruptcy, 4.3.2.9 Manage Liens, 4.3.2.10 Manage Foreclosures.
This process describes the management of Collection Processing. Most organizations have collection processes that attempt to collect past due charges. Typical Collection Process is a set of activities that represent business practice of each Company. Collection activities may vary based on the type of Customer and amount of unpaid debt.
Collection process could be crated automatically or manually and based on the business rules. When Collection Process is created, system automatically initiates business or system events associated with the given Collection Process. If collection activities (e.g. letters, removal from Budget, Payment Plan cancellation, affect Customer's credit score etc.) are not successful and Customer doesn't pay the debt, Severance Process with more sever actions could initiated as a last Collection activity.
Any Collection Process is monitored by system. It allows the stop collection activities if Customer's debt is relieved or partially relieved. Authorized User also can monitor and control Collection activities and manipulate with the Collection process and activities linked to the process based on business process needs.