NexaCollect launches mobile application for collection agency services

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The accounts receivable industry’s leading portal, NexaCollect, has launched an Android mobile app for its collection agency information services. “Nexa App” is a lightweight mobile application compatible with Android versions 4.1 and above. The launch of the mobile app enables Nexa to deliver the latest content, updates and relevant notifications directly to customers’ smartphones.

Few consumer collection agencies have developed a mobile application due to the sensitive nature of their business. A mobile app is good at providing summary performance statistics, but the small screen of smartphones is not ideal for filling out lengthy debt collection forms. It is very convenient to submit accounts or provide payment updates using desktop computer due to its large screen. Additionally, accounts receivable can contain sensitive and personal information that can be compromised if the mobile phone is lost or stolen. Therefore, cell phones are ideal for providing performance statistics and not submitting accounts or checking detailed debtor information.

However, in the case of commercial collections, the volume of accounts is low and a commercial collection agency may need to regularly contact their client to provide backup documents or cross-check the facts about a case. In addition to pushing alerts on their website, these requests can be sent instantly to the customer (or customer contact) using mobile notifications.

This app can be downloaded from Google Playstore located here: https://play.google.com/store/apps/details?id=com.nexa.app

Due to the recent Covid-19 pandemic, a tsunami of business failures is expected to hit the market. This will mainly include non-payment of loans and defaults on commercial leases. Although the recovery rate in commercial collections is generally higher, the recovery rate is expected to temporarily decrease due to tight market conditions. The process of collecting trade receivables is radically different from individual debt collections.

Banks and credit unions that have mostly consumer debt will now need to look for good collection agencies to service their unpaid business bills. An experienced collection agency works diplomatically to collect the money in full even if it requires putting the debtor on a payment plan. The intervention of a lawyer is avoided in the first stages, but it sometimes becomes mandatory to go to receivership.

NexaCollect serves medical offices, dental offices, small businesses and commercial clients looking for help finding a collection agency that’s right for their needs. Not all collection agencies can keep abreast of the ever-changing debt collection regulations and laws. A collection agency should continually update its collection agents with the latest local and federal laws and ensure that they have systems in place to protect client information.

For more information, contact Jessica at [email protected] or call 1-844-Nexa-123

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