Help CenterUnpacking myFinView Buckets: A Comprehensive Guide
In the world of FinView, 'Buckets' are an essential component of the Customer Portfolio(s). They provide businesses with an extra layer of organisation, offering a more detailed and granular understanding of their unpaid cases.
What is a Bucket?
A Bucket in FinView is a subcategory within a Customer Portfolio. It allows businesses to further categorise and organise their unpaid cases based on various factors such as the age of debt, value of debt, or geographical region.
How is a Bucket Used?
Buckets are created within the Customer Portfolio. Once a portfolio has been set up for a specific customer, businesses can establish multiple Buckets within this portfolio. Each Bucket is given a unique name and description to reflect its specific criteria, ensuring easy identification and management.
The Benefit of Buckets
The utilisation of Buckets offers several key advantages:
- Enhanced Organization: Buckets help businesses to divide their portfolios into more manageable and identifiable segments, enabling a more systematic approach to debt recovery.
- Granular Analysis: Buckets enable detailed, granular analysis of unpaid cases, allowing businesses to gain deeper insights into the characteristics of their debt portfolio.
- Targeted Strategy: By categorising cases into Buckets, businesses can devise targeted collection strategies based on specific bucket criteria, improving overall efficiency and effectiveness.
- Streamlined Process: The use of Buckets simplifies the process of managing and monitoring unpaid cases, leading to a more streamlined and efficient operation.
In summary, Buckets are a powerful feature within FinView that enhance the management and analysis of unpaid cases, providing businesses with the tools they need to optimise their debt recovery process. By understanding and utilising Buckets, businesses can significantly improve their collections performance and outcomes.