Why Lateral Technology is a Smart Move for CUBS Users

As the collections industry continues to evolve with advancements in automation, data analytics, and artificial intelligence (AI), it's essential for businesses to partner with platforms that offer flexibility, efficiency, and scalability. If you’re a user of Columbia Ultimate Business Systems (CUBS), you may be evaluating where to move to next after having your hand forced, along with wondering how to enhance your collections capabilities. Lateral Technology offers a smart future-proofed solution that provides seamless migration from CUBS while delivering enhanced features and tools to support modern collections.

Here’s why transitioning from CUBS to Lateral Technology is a smart move…

1. Future-Proof Your Collections with AI-Driven Technology

CUBS has been a reliable choice for many years, providing the basics needed to manage collections. However, as the collections industry moves on, software becomes outdated and companies are slow to respond to market conditions and new innovations. Indeed, with the industry becoming more complex with evolving regulations, debtor behavior, and technology, relying solely on traditional, older software like CUBS may limit your ability to function, let alone grow your business…and if it’s being de-comissioned then it makes your job pretty much impossible to do! The time is now to make the leap to a modern, flexible, fully compliant cloud-based software platform.

Lateral Technology is designed with AI at its core, allowing for smarter collections management. It uses machine learning algorithms to predict debtor behavior, optimize communication strategies, and maximize recoveries. AI-driven insights help identify the best times and channels to contact debtors, leading to more successful outcomes with fewer resources.

Additionally, Lateral Technology automates repetitive tasks such as payment processing, correspondence, and report generation, freeing up your team to focus on more complex issues. With automated workflows, you can expect increased operational efficiency while staying compliant with regulatory frameworks.

2. Enhanced Data Analytics for Informed Decision-Making

One of the key advantages Lateral Technology offers over CUBS is its advanced data analytics tools. Collections are more effective when they are data-driven, and Lateral gives users access to powerful reporting and analytics features that enable better decision-making.

Lateral’s dashboards are customizable, providing real-time insights into key performance metrics like recovery rates, agent productivity, and debtor engagement. The system’s built-in analytics identify patterns in debtor behavior, helping you refine your strategies for higher success rates.

CUBS users may have experienced limitations in data visualization and analysis, but with Lateral, every aspect of your collections can be optimized through data. This means you’ll have better control over your operations, improving both client relationships and recovery outcomes.

3. Seamless Migration with Minimal Disruption

One major concern for any business moving from one system to another is the complexity of migration. Lateral Technology has extensive experience in helping CUBS users transition smoothly, ensuring minimal disruption to your ongoing collections processes.

The Lateral team provides end-to-end support throughout the migration process, from data transfer to system configuration and training. They understand the intricacies of moving from CUBS and have developed best practices to ensure that your data is accurately migrated and your team is fully up to speed on the new platform.

The onboarding process is designed to minimize downtime and keep your collections running without major hiccups. Lateral Technology’s robust API integrations also make it easy to connect with your existing tools and systems, reducing the burden of managing multiple platforms.

4. Scalability to Support Growth

As your collections business grows, so do your needs. CUBS, while solid, and now being wound down, was built at a time when scalability and cloud-based solutions were not as critical. Lateral Technology is built for scalability, offering cloud-based infrastructure that allows you to easily expand your operations without the need for costly upgrades or hardware investments.

Whether you’re a small collections agency looking to grow or a larger organization seeking to optimize multi-location operations, Lateral’s platform can scale with your needs. The cloud infrastructure ensures you have access to the latest features and updates without downtime or complicated upgrades.

5. Superior Compliance Tools

Compliance is a top concern in the collections industry, where regulations such as the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act (TCPA) can have serious implications. Lateral Technology provides built-in compliance tools to help you navigate the complexities of collections law with ease.

With CUBS, staying compliant often requires manual tracking of regulations and adherence to best practices. Lateral streamlines this process by automating compliance checks, ensuring that all communications and activities adhere to industry standards. From automated communication logs to detailed audit trails, you’ll have the peace of mind that your collections practices are in line with regulations.

6. Improved Client and Debtor Experience

Customer experience is increasingly important in the collections world. Debtors now expect more personalized and respectful interactions, and businesses need to balance recovery with maintaining positive client relationships. Lateral Technology’s platform is built with a focus on enhancing both the client and debtor experience.

Through automated yet personalized communication, Lateral helps you manage debtor relationships more effectively. The platform integrates email, SMS, and phone communications into a single interface, allowing you to offer debtors multiple channels for resolution. This leads to faster payments, improved satisfaction, and better overall outcomes.

Lateral also allows for flexible payment plans and scheduling, which can be a challenge in more rigid systems like CUBS. By offering more options to debtors, you’re more likely to see successful recoveries while maintaining a positive reputation.

Conclusion: LATERAL TECHNOLOGY IS A Smart Investment in Your Collections Future

Moving from CUBS to Lateral Technology is a strategic decision for collections businesses that want to future-proof their operations. With its AI-driven platform, advanced analytics, seamless migration process, and focus on compliance, Lateral offers the tools you need to thrive in today’s collections landscape. You won’t need to migrate again!

Whether you’re looking to improve operational efficiency, scale your business, or simply modernize your collections system, Lateral Technology provides the innovative solutions that will take your operations to the next level.