What is Risk Portfolio?
The Risk Portfolio aims to empower you, ezyCollect users, by enabling data-driven decisions, reducing financial risk, and optimizing debt recovery operations through seamless integration with our debt recovery agency partners.
Here's an overview of a sample Risk Portfolio dashboard - going through the different parts of the dashboard and action items that you can do.
What's in your Risk Portfolio Dashboard?
Customer: The amount of clients that meets the criteria set.
Invoices: The number of invoices that meets the criteria set.
Balance at risk: Total amount not referred.
Open balance referred: Total amount referred and still not recovered.
At risk criteria: Preview of the criteria set in the configuration
Auto-referral status: Enabled (customers are automatically referred for debt collection) or Paused (you have to manually select customers to refer for debt collection)
Gear: Access to configuration page, enabling changes on the criteria previously set.
Search bar
Allows you to search by customer name, in case you want to check if any specific customer was added to the list.
Quick Filters
To be referred - the balance that meets the criteria, yet to be referred, manually or automatically;
Referred - the balance referred refers to accounts still undergoing the debt recovery process. (This status includes customers submitted for debt collection before the risk portfolio dashboard was accessible, hence lacking referral details on the right side of the table.)
Processing - balance referred waiting to be finalised to send to debt recovery partner
Resolved - when the invoices associated to the balance referred are closed in the accounting or ERP system.
What action items can you do in your Risk Portfolio dashboard?
Refer Now
You have the option to select individual customers or choose in bulk to refer and escalate for Debt Collection. Simply click "Refer Now" after making your selection.
Important Notes:
Customers and overdue invoices can be referred at any time but this will appear with the status Processing until they are sent to ARMA (or your debt recovery partner) scheduled at 12noon and 6pm AEST/AEDT.
Customer debts are referred to ARMA in a CSV format containing all the details of the debt, customer status in ezyCollect is automatically excluded so no further communications until invoice has been paid/recovered.
Please note there's no option to Send a Demand Letter in Risk Portfolio; referral goes to Debt Collection - debt recovery fees will apply once debts are collected.
2. Export
This feature enables you to export the dashboard. When a quick filter is applied, only the content matching that filter will be exported. However, if no filters are selected, all content from all pages will be exported to Excel. The file will be downloaded to the user's personal computer.
With the introduction of Risk Portfolio, we will be deprecating our good ol' "Red Zone" emails. This will be replaced with Risk Portfolio email which is released on 20th May 2024 and will be sent on a weekly basis for those users that have enabled/checked Debt Collection Alerts
Risk Portfolio Email
Risk Portfolio Emails will be sent to ezyCollect users who have enabled or check to receive Debt Collection alerts on a weekly basis.
This will give you a snapshot of your Top 5 Largest Customer accounts at risk based on your set criteria. This will also show you whether Auto-referral is Enabled or Paused.
Sample Risk Portfolio Email
