Dealers: Get More Out of Your GPS Device with ACT

GPS devices offer cus­tomers more inno­v­a­tive solu­tions than ever before.

• Auto­mat­ed Col­lec­tion Tech­nol­o­gy or ACT can be offered as a stand-alone prod­uct or in com­bi­na­tion with GPS device offer­ings. It auto­mat­i­cal­ly warns a cus­tomer when they have an upcom­ing or late pay­ment and can even be pro­grammed to dis­able the vehicle’s starter, ren­der­ing the vehi­cle unable to start if pay­ment is not received by the lender.

• The pri­ma­ry dif­fer­ence between GPS and Auto­mat­ed Col­lec­tion Tech­nol­o­gy is that GPS is a reac­tive solu­tion acquired more for locat­ing and repos­sess­ing the vehi­cle, where­as ACT is a proac­tive solu­tion, designed to help col­lect pay­ments.

• The appeal of the device is that near­ly all of the work is done for the lender. With a true auto­mat­ed col­lec­tion tech­nol­o­gy device, once the device is pro­grammed at the begin­ning of the pay­ment cycle, the rest is han­dled, auto­mat­i­cal­ly. The com­mands are sent wire­less­ly to the device, warn­ing tones are auto­mat­i­cal­ly enabled and the device will even dis­able the starter if need be, all auto­mat­i­cal­ly.

• By using an ACT sys­tem, a lender can improve its col­lec­tion process by becom­ing more effi­cient. For exam­ple, a lender using a stan­dard GPS device, or no tech­nol­o­gy at all, may have to look through their entire port­fo­lio each day to deter­mine who is delin­quent. They would then need to man­u­al­ly send a pay­ment reminder or locate the vehi­cle on spe­cif­ic accounts. With ACT, the device auto­mat­i­cal­ly does the work for the lender, includ­ing send­ing pay­ment reminders and dis­abling the vehi­cle if nec­es­sary.

• The Auto­mat­ed Col­lec­tions Tech­nol­o­gy improves cus­tomer pay­ment per­for­mance that helps reduce delin­quen­cies and helps keep cus­tomers pay­ing on time. By com­bin­ing ACT with GPS, the lender has a solu­tion that facil­i­tates improved cus­tomer pay­ment per­for­mance and has the added ben­e­fit of GPS loca­tion fea­tures for the accounts that do require it.

For more infor­ma­tion, please con­tact Jeff Karg, direc­tor of cor­po­rate com­mu­ni­ca­tion, PassTime or [email protected].



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