What are the most effective tools for "collection and recovery"?

 Negotiation 

 

Continuous follow up, pressurising the guarantor, hitting the weaknesses, writing to the employer ( if any ) in case the dues have become chronic in nature.

1. Reports which support your collection strategy
2. Collection Performance managment system
3. Control Dashboard
4. Customer performance/rating tools
5. Objectives and KPIS of receivables team

• Which are aligned with your collection strategy 
• Which drive performance
• Which manages risk