Individual Transaction Collection Strategy Tasks for External Systems
Define collections strategy tasks for individual transactions with the task type External. Customers often need to run collections strategies for individual transactions with some of the strategy tasks done by external systems, such as third party collections agencies. This feature provides more robust collections capabilities for customers who perform collections at the transaction level.
Solution Overview:
- Enhanced the Manage Collections Strategy Tasks UI to support transaction-level strategy tasks for the 'External' Type of Tasks. You can select the 'Transaction Level' checkbox and provide the condition details for an 'External' Type of Task on the Manage Collections Strategy Tasks page.
Strategy Tasks
- Enhanced the Manage Collections Strategies UI to add the transaction-level strategy tasks of type 'External' to a Strategy Method in a Strategy Group. You can select and add the transaction-level strategy tasks of type 'External' to a Strategy Method in a Strategy Group.
Strategy - Select Tasks
Strategies
- The Customer Inquiry page will now display the tasks of type 'External' on the transaction-level strategies.
Customer Transactions
This feature helps increase collections efficiency by expanding strategy task types of external strategies, such as routing transactions to third-party collection agencies for customers who manage collections at the transaction level. This enables businesses to resolve overdue accounts faster, recover more debt in less time, and free up internal resources for higher-value tasks.
Steps to Enable
Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.
Offering: Financials
The following features are to be enabled in the Feature Opt-In:
- Automatically Initiate or Fulfill Collections Tasks in Third Party Systems
- Collections Strategies for Individual Transactions
- Collections Scoring and Strategy Assignments by Segments
Key Resources
- Based on Idea 768043 from the Receivables and Collections Idea Lab on Oracle Cloud Customer Connect.