Patent ID: 8335740

Claim:
A method for managing and collecting receivables, the method comprising: providing at least one pre-existing account with first account information, the first account information having first account party data; providing at least one new account, each new account comprising new account information, the new account information having new account party data; determining, by a processor, whether the first account party data of the at least one pre-existing account matches the new account party data of the at least one new account and if so, tying the at least one new account with the at least one matching pre-existing account to create a tied account; calculating, by the processor, a collectability score for any unmatched new account and any tied account based on at least one financial parameter; determining, by the processor, one or more collection strategies for any unmatched new account and any tied account based on the calculated collectability score; and applying, by the processor, the one or more collection strategies to any unmatched new account and any tied account.