Jim McDermott, CEOAltus is the perfect partner for lenders, equipping them with tools to assess risk, monitor repayment behaviors and intervene swiftly to prevent defaults.
As a leading provider of commercial collections and accounts receivable management solutions, it helps businesses recover outstanding debts while ensuring compliance, data security and seamless technology integration.
This is achieved through a comprehensive risk assessment tool, data-driven insights and proactive recovery strategies that prevent minor repayment issues from escalating into significant financial losses.
“We provide our clients with peace of mind by offering a comprehensive solution that gives clients clear insights into their receivables,” says Jim McDermott, CEO. “Leveraging cutting-edge technology and extensive industry scale, we provide full portfolio coverage, delivering better feedback, stronger recovery rates and overall improved results.”
Central to Altus’ offering is its commercial collections service, which is designed to recover outstanding debts efficiently and maintain compliance throughout. Its solution suite is built on a highly customized Salesforce-based ERP instance that stands apart by integrating with the client’s existing framework.
These flexible integration capabilities enable seamless connectivity with a wide range of client platforms, from accounting software and CRM tools to financial databases. By eliminating compatibility issues caused by outdated collection systems, it helps businesses break down data silos and streamline operations for greater efficiency.
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Leveraging cutting-edge technology and extensive industry scale, we provide full portfolio coverage, delivering better feedback, stronger recovery rates and overall improved results
More than just improving efficiency, security and compliance are also deeply embedded into Altus’ integration process. With Salesforce’s built-in security features, including encrypted data transmission, multi-factor authentication and strict access controls, sensitive financial information remains protected at every stage.
The system also ensures compliance with data privacy and consumer protection laws by offering detailed, real-time reporting and audit trails. This enables clients to track every aspect of the collections process, ensuring all transactions meet industry regulations and avoid compliance violations.
Clients benefit from automated compliance monitoring that guarantees all collection activities adhere to industry regulations, minimizing the risk of complaints, lawsuits and reputational damage.
Effective AR management, however, isn’t just about recovering overdue payments—it’s about preventing them from becoming delinquent in the first place. This is where the company’s AR Management Support plays a crucial role. Through the service, it acts as an extension of the client’s internal team, offering trained specialists who engage with customers and collect outstanding receivables before they become severely overdue.
Altus leverages a team of over 200 collection specialists to handle high volumes of receivables for clients dealing with staff shortages, budget constraints or reliance on outdated manual processes. This accelerates recovery timelines while minimizing non-payment risks and improves cash flow, benefiting clients dealing with large-scale debt portfolios or limited internal collection resources.
Together, these two services create a layered recovery model that adapts to the client’s needs. First-party collections serve as a preventive measure, ensuring that businesses stay ahead of their receivables, while third-party collections provide the necessary escalation when payments remain outstanding. This dual approach optimizes cash flow and reduces operational risks, allowing businesses to focus on growth rather than debt recovery.
A notable example involved a fast-growing technology company that was overwhelmed by a backlog of delinquent receivables due to its reliance on spreadsheets and an unstructured AR process. With limited staff and little training in collections, the client struggled to track payments and follow up on overdue accounts, leading to cash flow issues. They recognized the need for change and turned towards Altus for a scalable and efficient solution.
The company began by clearing the backlog using its collection agents, who acted within strict timelines to guarantee that collections were handled efficiently.
But fixing the backlog was just the beginning. Altus connected the client with one of its technology partners, allowing them to implement a modern AR management system that automates tracking, payment reminders and collections.
Altus further ensured long-term success by training their AR agents and management, equipping them with the skills and tools to run an efficient, technology-driven collections process. This resulted in them operating with a structured AR team, integrated technology and a streamlined process, significantly reducing overdue receivables.
The force behind this success is its team and the company’s culture of respect, transparency and collaboration that directly enhances the client experience. Altus encourages strong communication through regular meetings, virtual meet-ups and open feedback channels. Employees can submit ideas for process and technology improvements, which are reviewed weekly and often implemented, ensuring continuous evolution to better serve clients.
Over the coming years, Altus is all set to broaden its services, expand into new markets and continue to enhance its technology. Bankruptcy monitoring, UCC lien services and mechanics lien services are all on the horizon-aimed at expanding beyond its core collections expertise to give clients even more ways to safeguard their financial interests.
The company is making advancements by doubling down on AI-driven automation to streamline processes, reduce manual tasks, and boost overall efficiency. Altus is also considering international expansion, strengthening its network of partners to serve clients better globally.
As the company continues to expand its services, invest in AI-driven automation and strengthen global reach, one thing remains constant-its commitment to helping businesses take control of their receivables with confidence.
This dedication comes to life through seamless technology integration, real-time data visibility, and airtight compliance, all of which empower businesses with a smarter, more efficient approach to accounts receivable management. Whether businesses seek to modernize their AR operations, accelerate cash flow or eliminate inefficiencies, Altus ensures that its clients stay ahead of the technology curve.
