How to Use the Collection Cost Calculation Tool

The Collection Cost Calculation tool allows users to evaluate costs associated with working on accounts. This guide outlines key steps and functionalities to configure this tool.

Getting Started:

Navigate to Setup → Collection Costs

Enter Vendor Costs:

These costs will be used in the calculation of collection costs. Fill in the following fields:

• Active: Check this box to activate the cost calculation feature.

• Agent Time (per Minute): Enter the cost associated with each minute of agent time.

• *Dialer Calls (per Call): Specify the cost for each dialer call.

• Emails (per Email): Enter the cost per email.

• Letters (per Letter): Specify the cost for each physical letter sent.

• Texts (per Text): Enter the cost per text message.

• Voicemails (per Voicemail): Specify the cost associated with each voicemail.

• Commission % Limit: Specify the commission % limit.

• Save and Apply Changes

Workflow:

• Navigate to Setup → Workflow → Triggers

  • The onAfterCostsExceedBalance trigger will fire when the collection costs for an account exceeds its current balance.

  • The onAfterCostsExceedBundleBalance trigger will fire when the collection costs for the bundle exceeds its current balance.

  • The onAfterCostsExceedCommision trigger will fire after the expenses surpass the commission threshold.

  • The onAfterCostsExceedBundleCommision trigger will fire after the expenses exceed the bundled commission threshold.

• You can set up action path workflow to move accounts into or out of specific worklists or take other actions when these triggers fire. 

Recalculate Collection Cost Balances:

Navigate to Utilities → Job, choose the desired Job Task to Recalculate Collection Costs. There are two tasks available:

• Portal: Recalculate Collection Costs: Allows you to retroactively recalculate collection costs by date.

• Portal: Recalculate Collection Costs with Logic: Enables the setup of a logic block to select accounts for which collection costs will be recalculated.

"Collection Costs" Sidebar Tool:

The "Collection Costs" sidebar tool displays real-time information on current collection costs and the total amount accrued for each account. Use this tool to quickly assess the financial status of accounts and make informed decisions.

SQL Designer for Reporting:

There is a table/view available to report collection cost records in the SQL Designer. The name of the table/view is "collection_costs."