A promise and a recovery are different stages
An agreement represents intent and defined terms. Recovery happens when payment is identified. Monitoring receipts is therefore part of the operation.
Record the terms
Amounts, installments, due dates and negotiation limits must be clear. History prevents contacts without context and helps handle exceptions.
Prepare the next move
When an installment is late, the team needs to identify the event and determine the next action. This information also informs the understanding of portfolio behavior.