Wednesday, 14 November 2018

Beesion launches debtors’ self-pay portal to help telecom companies boost debt collections

posted by Jennifer from Beesion
Thursday 18 January 18

Beesion, the pioneer of low-code telecom software, has launched a debtors’ self-pay portal to help telecom companies boost debt collections while reducing collection costs. The debtors’ self-pay portal enables subscribers to make payments, establish payment plans, and confirm their information with just a few clicks. The portal displays subscribers’ debts from a single telecom service or consolidates them from multiple telecom services (wireless…

Beesion, the pioneer of low-code telecom software, has launched a debtors’ self-pay portal to help telecom companies boost debt collections while reducing collection costs.

The debtors’ self-pay portal enables subscribers to make payments, establish payment plans, and confirm their information with just a few clicks. The portal displays subscribers’ debts from a single telecom service or consolidates them from multiple telecom services (wireless, landline, satellite, cable, etc.). It then offers several payment plan options, based on subscribers’ credit, payments’ history, and other factors.

“The debtors’ self-pay portal empowers subscribers to resolve their past due bills more privately and conveniently,” said Romina de Girolamo, Beesion’s Director of Services. “In fact, our analytics suggest that there will be at least a 50% increase in the number of subscribers that will honor their payment commitments via the debtors’ self-pay portal vs a phone call with an agent”.

She also noted that the portal could reduce mailing costs, too.

The debtors’ self-pay portal uses three low-code software applications, Beesion’s Collections Management Software, Beesion’s Credit Analysis Software and Beesion’s Payments Management application. Through these applications, the portal interfaces directly with the billing system or Order Management application.

It works like this:

- Delinquent payments notifications are sent via text message to subscribers, directing them to the secure debtors’ self-pay portal.
- The software determines the payment plan options, based on multiple configurable factors. It extends more lenient terms to credit-worthy subscribers and stricter terms to those with lower credit scores. Administrators can also configure an incentive or promotional offer, such as 0% interest refinancing, removal of late fees or collection fees, or a settlement discount.
- The subscriber chooses a payment plan and makes at least his first payment, which is immediately applied to the subscribers’ account (s). If service was suspended, and recent payment meets debt minimum, the portal orders a temporary service restoration. Also, subscribers can print payment slips to make payments by mail or at a designated collection point.
- Automatic reminders are sent monthly, reminding the subscriber of his payment plan commitment. If he doesn’t pay, or his auto-payment is declined, his account is set back to the corresponding debt stage, including service suspension.

“Of course, there are many factors that affect debt payment,” de Girolamo said. “But subscribers are more likely to pay their debt if they have multiple, convenient payment options.”

Beesion’s debtors’ self-pay portal and accompanying application suite use the company’s low-code platform. Instead of hand coding, the software is designed visually and built with pre-built software modules. Business rules, workflows, interfaces and data objects are then configured in runtime, all without code. This enables applications to launch up to 5x faster than traditional software development. It’s also simpler to support and expand.
 


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