Understanding the Collections Workbench

The PeopleSoft Receivables Collections Workbench is a central work space that presents a complete view of each customer. Collectors can perform their day-to-day activities, including accessing and completing action items directly from the Collections Workbench. Prior to contacting a customer or completing an action, the collector can use the Collections Workbench to review a customer's history, such as the average days it takes a customer to pay, the number of days any sales are outstanding (DSO), any past due balances, and any previous broken promises. With this information at hand, the collector can contact the customer and hopefully, work out a plan for payment and indicate on the Collections Workbench that the customer will pay by direct debit, credit card, or a check. If the customer does not make a commitment to pay, the collector can use the Collections Workbench to place the customer on credit hold and add an action to follow up in a specified number of days. If the customer agrees to pay within a certain number of days and does not pay, the collector can use the Collections Workbench to send a dunning letter. The collector can continue to follow-up with this customer, and, after reviewing several broken promises, can use the Collections Workbench to mark the customer in collections and refer the customer to a collection agency. The Collections Workbench provides the collector all of the information and metrics needed to diligently track and manage customer data from the days the customer receives a statement until it is paid or referred to a collection agency.

Collections managers can use the Collections Workbench to complete day-to-day management activities, which may include reviewing the current payment promises, reviewing any outstanding broken promises, the reassigning action items to different members of their team, or completing their own assigned action items.

The Collections Workbench enables an authorized user to:

• Easily access and populate the workbench data.

• Navigate to and from multiple pages and levels of data.

• Personalize the workbench.

• Access an enhanced owner action list and view action lists across customers.

• Access specific levels of customer detail.

• Display the credit profile information of a customer.

• Display and work the item list associated with a customer.

• Display the payment status and payment history of a customer.

• Review customer promises.

• Review, add, update, and delete conversations with a customer.

• Review the correspondence history of a customer and send statements by e-mail.

• Review customer aging and open credit information.

• Calculate a credit risk score for a customer.

• Review direct journal payments.