Addressing today’s top recovery accounting challenges
Effective recovery accounting is essential to strategic and outcome-driven collections management. CGI’s CACS Enterprise—an industry-leading collections and recovery solutions suite—includes a Recovery Accounting module that addresses today’s key recovery accounting challenges, driving results and competitive advantage.
Meeting today’s challenges
Does your current recovery accounting system deliver the following?
- Management of charge-off and partial charge-down accounts
- Tracking of all charge-offs through a single system
- Tracking of all collection costs, even if they cannot be collected from the customer
- Support for Basel II guidelines governing tracking loss and recovery components, including amounts recovered, source of recovery (e.g., collateral, liquidation proceeds, guarantees), and administrative costs
- Reduced costs of ownership and operations for recoveries
- Account-level recovery statistics to improve recovery score calculations
CGI’s CACS Recovery Accounting solution handles all of the above and more, transforming recovery accounting, improving performance and saving costs.
CACS Recovery Accounting offers extensive and innovative features that surpass what you will find in comparable systems on the market, including the following:
- Complete system of record processing, including tracking of principal interest and up to 20 additional user-defined balances.
- Single charge-off accounting application that support all types of charge-offs and partial charge-down accounts
- Single data sources for all of a customer’s delinquent accounts, regardless of account type (e.g., loan, mortgage, credit card, DDA, etc.)
- Flexible general ledger accounting with user-specified GL tables to determine GL accounts, cost centers and descriptions for every transaction
- Multiple language and currency support
- Single platform, enabling easy deployment and end-user training
Integration with other CGI solutions
CACS Recovery Accounting is part of CGI’s CACS Enterprise collections and recovery system, which supports high-volume credit processing for all consumer products and can be scaled to support new consumer credit products, as well as revised policies and evolving segmentation and treatment strategies. By integrating collections and recovery, whether managed in-house or through outside partners, CACS Enterprise helps you reduce credit losses, minimize expenses, build profitable customer relationships and improve your bottom-line results.
CACS® is a registered trademark of CGI Group Inc.