How Lystloc Helps In Tracking Debt Collection Agents

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Published Date: January 20, 2024

How Lystloc Helps In Tracking Debt Collection Agents

When it comes to business and its growth nowadays, every industry has numerous challenges and competition in its business and operations. To overcome hurdles and outnumber competitors, the industry requires technological assistance. Any debt collection agency’s growth is heavily influenced by its energetic and efficient field of debt collectors. To be more specific, no debt collection agency can thrive in the absence of a debt collection agent. 


Lystloc is a debt collection software that helps agencies in location tracking, work monitoring, and managing their on-field workforce and their daily collection schedules. This software helps agencies make the right field-related business decisions and come up with better strategies and planning based on real-time location intelligence data rather than doubtful assumptions.


Who Are Debt Collection Agents?

A debt collector is generally a person or company that regularly collects debts owed to others or who has the primary purpose of collecting debts. They are executives working on behalf of the lending institution, assigned to engage with a borrower in person to recover the debt. This method is typically used when other forms of communication, such as emails, calls, and letters, have not resulted in the recovery of the debt. The debt collections agent will then visit the debtor at their registered address.


Benefits Of Using Lystloc Software For Debt Collection Agent Tracking


Helps In Tracking Debt Collection Agent’s Daily Attendance

The Lystloc software for debt collection agents makes it simple to track field agents’ attendance and allows them to clock in and clock out from anywhere without interfering with their work. The on-field debt collectors can mark their attendance through a single-touch authentication from anywhere during their work hours directly from their fieldwork location rather than traveling to the collection agency.


Using this attendance feature, managers can keep a check on their agents’ leaves, and permissions in a more sophisticated way. There is also an option for Geofence attendance in the Lystloc app, debt collectors can mark attendance only when they are within the specified location radius restricted by their managers.


Helps In Tracking Debt Collection Agent’s Current Locations

With the utilization of Lystloc debt collection software, managers can easily and accurately track their debt collection agent’s accurate work location, client meeting location, travel mapping, distance travelled, etc. If there is tracking the movement of the agents, one will be able to figure out their work progress.


Through Lystloc, managers can find the exact location of the field debt collectors and evaluate the agent’s productivity. The software helps the manager find the location of their field debt collectors and assign tasks to them accordingly. They can guide their agents with the correct location to reduce time waste. By knowing the traveling distances, fuel expenses can be calculated accurately.  


Helps In Tracking Debt Collection Agent’s Service Territories

With Lystloc’s location hierarchy function, managers tend to get instant updates on their field debt agents’ movements to their assigned collection territories. This feature alerts managers with quick notifications to know when their agents are leaving and returning back to their assigned work locations. Can easily track and manage them, know if they have finished their work before leaving, reach the assigned work locations on time, etc.


With territory mapping, debt collection agents can view their tasks only when they are within the specified task area perimeter assigned by their managers. They can classify and manage their field tasks and activities based on the work territories assigned to them.


Helps In Tracking Debt Collection Agent’s Work Hours

Lystloc software for debt collection agents assist managers in keeping a close eye on all debt collectors’ daily working hours, client visit timing, attendance marking time, and completing everyday activities and hours invested in each of them. By precisely tracking and recording the debt agent’s time allotments, Lystloc aids in maintaining transparency and trust. Managers can list the work routine that agents do in a day within the Lystloc web dashboard itself.


The software allows them to easily analyze agents’ performance and work productivity because they have exact data on how many hours each of their debt agents spends at work and how many debt collection visits they make in a day or month.


Helps In Tracking Debt Collection Agent’s Service Expenses

With Lystloc’s expense reimbursement feature, debt collection agents can submit their business expenses and corresponding documentation without delay, and their managers can quickly and easily review and approve reimbursements as notifications come in.


This way, the risk of missing or damaging receipts they need to submit is quite high so capturing the receipts in real-time via dedicated software is the best thing one can offer their travelling debt agents. Also, with manual expense reports, agents might make data-entry errors that could be further carried on when managers transcribe the information into the database. With Lystloc software, managers can flag errors, and duplicate entries and prevent overpayment.


Helps In Tracking Debt Collection Agent’s Performance Insights

Lystloc’s automated data recording and reporting can benefit debt collection agencies’ daily operations in many ways. Lystloc acquires and provides data on daily debt collection, client meetings attended including data on collected amounts and services provided by each debt collection agent in real-time.


Lystdata is a report generation feature provided by Lystloc built with strong and technically powerful Data Analytics software. This amazing feature helps for deriving real-time reports for agency workforce management purposes such as payroll processing, evaluating agent’s performance, agility, and many more. This debt collection software plays a key role in improving the business as it is used to gather hidden insights, generate reports, perform debt analyses, and improve business requirements.


Conclusion

Debt collection agencies that utilize the Lystloc software can greatly boost their collection productivity while saving a significant amount of time and effort spent on debt collection workforce management. Lystloc automates monotonous, manual operations, allowing businesses and their field workforce teams to focus on making more debt collections. 


If agencies’ are on the lookout for a perfect and complete pack of debt collection management software for their agent’s work tracking and time monitoring with all the advanced features and a one-stop solution for all field work-related difficulties they can definitely check out Lystloc. Want to prosper in your business, then start implementing Lystloc in your field operations right now!


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