The Problem
High loan servicing rates and a lack of effective collection efforts were costing timeshare companies significantly. Many relied on external loan servicing companies, which charged substantial fees and provided limited reporting capabilities. This inefficiency not only affected cash flow but also left timeshare companies without the transparency and control they needed to manage their financial operations effectively.
The Solution
Intellishare stepped in to provide a comprehensive solution, empowering timeshare companies to take control of their loan servicing and collections in-house. By leveraging automation, Intellishare's system delivers a seamless, efficient, and cost-effective alternative. Here’s what makes this solution effective:
- In-House Loan Servicing: Timeshare companies can now manage their own loans without paying enormous fees to third-party servicing companies. This in-house setup keeps control over the entire process while minimizing costs.
- Automated Payment Reminders: Our system handles everything from sending timely payment reminders for past-due accounts to automating follow-up communications. This ensures better collection efforts and reduces the chances of missed payments.
- Collection Efforts in Conjunction with the Collection Department: Intellishare's automation works alongside the internal collections department, offering valuable insights and sending internal notifications to enhance and support their efforts. This integrated approach boosts the effectiveness of collections and keeps the team informed and proactive.
- Comprehensive Cash Flow Reporting: Intellishare's automation includes robust cash flow reporting, providing managers with real-time insights into collections and financial health. This level of reporting improves transparency and aids in better decision-making.
- Effortless Management: With Intellishare’s automated system, timeshare companies experience smoother operations and increased efficiency, freeing up resources to focus on strategic business goals.