Conrad Acceptance Corporation | Conrad Credit Corporation | Conrad Asset Team
The Conrad Academy | Conrad Education Foundation | Approval One
Conrad is a group of companies headquartered in San Diego, CA. Conrad was founded in 1989 and ownership has remained unchanged over the past two decades. The companies have diversified into a variety of nationwide industries. The Conrad Companies were built with the philosophy that the only two assets of any service organization are its clients and employees. Through Conrad’s growth and diversification, that philosophy remains. Conrad's complete accounts receivable management group provides a “one stop shop” for all aspects of receivable management, from point of sale to servicing, purchasing of qualified consumer contracts, default collections and litigation.
Conrad Credit Corporation Benefits
Technology
The implementation of the latest state-of-the-art technology specific to the collections and finance industry is what distinguishes Conrad Companies from other competitors. In addition to substantial costs of modernization and development, many agencies are reluctant to embrace the rapidly evolving world of technology and are therefore not capable of meeting security compliances associated with the electronic transmission of information. For the Conrad Companies, the substantial investment in comprehensive technological advancements has dramatically increased the productivity. Another distinguishing and important factor is that the technology is understood and properly applied by the companies as a whole. Without this comprehensive understanding, the technology and costly investment is rendered useless.
Predictive Dialer
Integration of a predictive dialer is an indispensable tool for effective collections and agency success. In an effort to increase productivity, Conrad’s predictive dialer is an advanced outbound dialer and offers personalized voice messaging for leaving unattended messages and interactive voice response for automated access. The term predictive dialer and auto dialer are often used interchangeably; however, an auto dialer simply dials a telephone number on demand without manual input. A predictive dialer is much more sophisticated and is a vital tool in today’s collection
environment. Conrad's predictive dialer capabilities:
- Multiple telephone line capability
- Connection to a live agent upon detection of a “live” voice while simultaneously displaying the debtor’s account information on the agent’s computer screen
- Seamless integration with the Collector System for up-to-the-minute account updates
- Eliminates non-responsive calls, busy signals, no answer and answering machines
- 300% increase in productivity over an auto dialer
- Increased agent/consumer talk time to 45-50 minutes per hour
While other agencies may have a Predictive Dialer at their disposal, a Predictive Dialer itself has no strategies. It takes an experienced agency with effective collection strategies to utilize its full potential.
Profiling Software
Conrad Credit's profiling software is an analytical tool that uses mathematical and statistical data to predict an account’s propensity to pay and create a rank ordering of accounts by highest potential collected dollars. The software produces highly accurate and competitive scoring data.The software uses a medal scoring system as listed below:
- Platinum - High balance accounts with a high liquidation rate
- Gold - Accounts with a high balance and moderate liquidation rate
- Silver - Accounts with a high balance and low liquidations rate
- Bronze - Accounts with low balance and low liquidations rate
This “smart” system regularly identifies which 50% of accounts assigned will generate 85% of the dollars recovered. By sorting the accounts, Conrad Credit can prioritize and focus on selected accounts which will yield a higher recovery rate.
