Accounts Receivable Management Services

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HOV Services provide an end to end solution assuming all, or part of the AR functions from invoice generation, lockbox/remittance processing, cash application/
reconciliation, notice presentment, 1st party collections, delinquency management and bad debt purchase.

HOV services can consolidate the printing, mailing and electronic delivery of Accounts Receivable documents. Our experience in invoice design, formatting, composition and printing provides mass customization of the invoice document. Invoices are custom formatted, according to pre-defined business rules, resulting in a document unique to each customer. An exact copy of each invoice is stored in document DNA directly from the print composition process. Invoices are available for retrieval by the Accounts Receivable department before the customer receives the invoice in the mail.

Early and Late Stage Debt Collection
Accounts receivable activity is often defined by the age of the receivable assigned for collection. Typically early stage collection references debt placed for treatment 90 days or less from the point of delinquency. Conversely, the term late stage refers to older accounts or those previously placed with one or more collection agencies or attorneys.

HOV Services provides effective collection solutions that yield high recoveries despite the age of the account or who may have previously worked it. Our Cure and Pre-collect program focus on newly delinquent debt. Our late stage services work effectively on older accounts, including secondary, tertiary and purchased debt assignments.

A/R Analysis, Stratification & Reporting
The compilation of accounts receivable information and the distillation of unique characteristics therein to determine value, work priority and collection probability are key to designing a recovery strategy. Analysis, Stratification and Reporting describe the critical process of information collation and its transformation into meaningful data to support operations.

HOV Services has developed a STRATEGY TACTICS AND TECHNOLOGY (STAT) department staffed with accounting professionals and statisticians to quickly accumulate and analyze data. This talented team, the data they extract and its use within the company are critical to making informed decisions on debt purchase opportunities, the deployment of resources and the creation of strategies to collect money.

See also: Collection Letter Processing