When a delinquent customer is not ready to make a payment immediately or plans to send payment later, you can enter a promise to pay to help resolve the delinquent account. You record the customer's promise to pay specific amounts at specific times. You can enter a promise to pay for a single transaction or for a group of transactions.
Oracle Advanced Collections tracks the expected payment automatically. If payment is made, then the promise status shown on the Promise tab on the Processing Payment window changes from Collectible to Fulfilled. This information is also available on the History tab for promise records. Advanced Collections displays Yes in the Promised? column for the transaction records.
To keep promise information up to date in your system, run the IEX: Promise Reconciliation concurrent program daily. This program verifies reconciles payments against open promises and populates the Promises node in the Collector's Work Queue when payment is not received by the promise due date.
If a promise to pay is not fulfilled and no payment is made, then the promise status changes to Broken when you run the IEX: Promise Reconciliation concurrent program. Advanced Collections updates the Broken Promise node on the Collector's Work Queue and adds a broken promise task on the Task node. This alerts the collector to follow up with the customer. Until the promise is paid, No remains in the Paid? column of the transaction record on the History tab.
If you want callback tasks for broken promises to appear in the Task node of the Collector's Work Queue, then run the IEX: Create Dunning and Broken Promises Callbacks concurrent program after the promise reconciliation program. Collectors will be able to see broken promises in both the Task node and the Promises node. Running this program is optional.
Note: You must set the IEU: Queue: Promises profile option to Yes in order to display the broken promises node in the Collector's Work Queue. You can set this profile option manually or by using the Collections Checklist.
Set IEX: Callback Days for Promise profile to create callback work items. To correctly schedule callbacks, this concurrent program needs to be run every day after IEX: Promise Reconciliation concurrent program is run. The callback will only be created on this date. If the date is missed and the date passes without the concurrent program being run, then the callback will not be created.