Collections and Recovery Accounting
"Implementation of Shaw’s RECOVERY product represents a critical investment that has bolstered our bottom line by improving collections efficiency and enhancing member relations."
One of the largest Credit Unions in the US.
Collections and Recovery Accounting
- Single Platform for All Charge-Offs
- Automated Accounting and General Ledger
- Reduce Charge-Offs and Increase Recoveries
- Shadow Accounting for Maximum Profitability
- Workflow Automation
RECOVERY is a sophisticated, customer-centric post charge-off recovery accounting application designed for banks, finance companies, credit unions, and other financial institutions. Shaw Systems provides leading solutions to North America's top companies, including a vast number of auto finance leaders.
This full-featured collections and recovery accounting solution accommodates every phase of an account's recovery life cycle. Our integrated solution streamlines processes and offers results more quickly. Shaw offers better management flexibility and control in an efficient manner compared to customized software options.
RECOVERY provides a clear positive advantage because it is built on a service-oriented architecture (SOA) where business functions are exposed. SOA provides benefits for reducing integration expenses, increasing business agility, and decreasing business risk. Shaw has developed this collections and recovery accounting solution for the market’s leading application environments.
RECOVERY Highlights
- 360 Degree View of Every Customer Relationship
- Support for Behavioral Analytic Integration
- Workflow Automation Tools
- Shadow and Book Balance Accounting
- User-Defined Business Model Configuration Tools
- Role-Based Screens, Queues, and Activities
- Automated Document Management
- Payment Integration Tools Including ACH and Industry Vendors
- Third-Party Value-Added Integration Services
- Collection Agency Management and Performance
- Centralized Customer and Account Data
- Reduced Software Maintenance Costs
- Unlimited Expense and Fee Income Tools
- Tools for Leveraging the Web
- Credit Bureau Reporting
- Automated Customer Billing
- User-Defined Payment Posting Priorities
- Support for Full and Partial Charge-offs
- Easily Customizable User Interface
- General Ledger Integration
- Enterprise Hierarchies and Reporting
- Real-Time Full Backdating
- IRS 1099 Reporting
- Consistency in Charge-Off Processing
- Reduction in Manual-Intensive Processes
- Standardized Management Reporting
- Extensive and Timely Trend Information
- Compliance Tools for Regulatory Reporting
- Data Normalization for Multiple Systems of Record