The Credit and Loan Collections Future. (Post-COVID)
2021 has seen more loan managers and owners seeking a system that enables the expansion of their loan portfolios more efficiently. The latter would allow for them to benefit from the booming economic activities in the post-Covid era.
It goes without saying that the on-going pandemic has transformed the way people do business as well as how they structure their lives. In other words, 2021 will forever be remembered as the year everyone was forced to reinvent themselves for the sake of the future. Presta was one of those businesses that had to think outside of the box. The latter came in the form of our cloud-based debtor management system. This remarkable innovation is geared towards transforming your loaning business remotely. The latter means that you can process and respond to millions of data points and tasks with little to no operational expense. In layman terms, it now costs significantly less human and financial resources to get paid by clients on time, all thanks to digitalization.
It’s no secret that businesses that refuse to keep up with the Joneses as far as the current digital trends are concerned are doomed to fail. ‘Reach, Organization, and Memory’ are the three pillars vital to successfully handling growing customer bases without the need to balloon your expenditure. This is why all profit-driven executives are keen on taking advantage of the competitive edge going digital will do to a business especially if they are in the loan business, where how one chooses to manage hundreds of weekly repayments and do so profitably can make or break companies.”
Don’t get me wrong, paper trail still remains paramount. Unfortunately, that won’t be the case in the coming years. Most tasks are now handled by tailor-made digital systems which are more efficient. One such operating system is none other than Presta’s affordable comprehensive cloud-based solutions. Users benefit greatly from collecting most of their payments on-time by simply staying on top of delinquencies, late payments, and balances.
Sample this: Imagine having a digital system that allows to you scroll through data to contact large groups of clients with similar circumstances while maintaining personalized and regular communication on each client’s stated schedule or reminding clients about repayments. As if that’s not all, you’ll get all the above done with little to no human resources. Presta goes a step further to mobilize customer service, initiate effective fund collection as well as notify management staff every time a payment is due, late or going delinquent.
I still keep important dates like birthdays and anniversaries these usual routines are now more functions of habit than anything else though– since digital reminders and warnings became the ‘new norm’ in 2020. And for some, many years before that. Imagine how much savings the utility companies that no longer routinely post every bill and letter are making. Yet now they are always remembered. Some of us even grow romantically accustomed to our schedules. We miss them when they are late, and even wonder about what could be delaying them.
Presta is aiming to help more loan businesses cut down their expenses while improving collection efficiency. Just the same way medical alerts, security communications, school assignments and bank updates pop up as notifications when they land on our laptops, tablets, mobile and other digitally connected devices. Information travels across great distances in seconds to arrive on our connected devices, with only negligible cost per message. All of your qualifying clients today will have access to one of these devices because they have other distant people to always keep in touch with too!
Facebook, Instagram and LinkedIn never forget to remind me about upcoming birthdays, anniversaries and events for almost all the people within my different circles. My notifications are literally my new post-its! My bills are now e-bills. They arrive by email and SMS message long before the mailman’s version reaches the post office.
Businesses spearheading the new digital age already use cloud or local server-based systems to manage clients, portfolios and even shareholders. So Presta’ solution builds on the attempts of existing products that are claiming to satisfy loan business’ needs.
Successful businesses are reaching more clients with fewer scans, printing and telephone call costs, organizing more data using less capital, and always remembering esteemed clients and staff when it matters the most i.e. when payments are due, late or dangerously delinquent. That’s when the opportunities for clients to borrow more stem from.
In short, companies looking to not only survive but thrive in the near future MUST follow these digital trends with an unmatched conviction. One way of showing their commitment is by choosing a credible and reliable expert to deliver their new digital expansion strategy. Presta is the best choice of a trusted partner in the cloud digitization sector. Our platform does more than store, sort and process data. Presta is a trend-setting company that regards Storage Backup, Security Protection and Server Maintenance as essential to you, your shareholders, and your clients’ peace of mind.
Market leaders are already building close relationships with your potential clients. They are becoming a part of these clients’ life routines by penetrating the new sixth sense. Digital devices keep us connected to friends, family, business associates, doctors, schools, politicians, and a global marketplace.
Bridge the competitive gap between you and your competitors today schedule a personal Demo to see how Presta can best meet your lending needs. It is the operational decision that will rapidly grow your business and collect payments in 2021, and for the rest of the future.