What’s the difference between “collection rate”, “windshield rate”, “payment rate”, “closure rate”?
What about partial payments and dismissed tickets?
What if we can’t find the registered owner’s name and address?
What figure should go in the numerator? Number of paid tickets? Dollar value? And what about the denominator?
Over what time period should we calculate the rate?
Doesn’t my software system have a report showing this number?
Is there really a difference in collection rates between vendors?
If you run a parking program, you may have asked yourself these questions and others. Maybe you calculate your collection rate on a periodic or even regular basis. Or maybe you haven’t thought about it much because there’s a lot on your plate.
Did you know that accurately calculating and then regularly monitoring your collection rate is the most powerful tool you have and allows you to identify:
• Citation issuance errors and areas for PEO retraining
• DMV data problems and the value of skiptracing
• Missed noticing cycles
• Missed or delayed payment postings
• Additional sanctions or strategies that can improve compliance
• Issues with your adjudication process including your court
• Whether your processing vendor is delivering high quality service.
This webinar will lay a foundation for understanding the importance of collection rate and how to calculate yours.
Finally, we will discuss whether and how an agreed “collection rate” data standard could benefit the industry.
As an attendee you will:
• Learn how to calculate your program’s “Citation Collection Rate”
• Understand the importance and variety of the information that can be gleaned from understanding your collection rate
• Learn how these insights will help you identify areas for improvement in your citation processing program
• Be better able to measure and compare your processing vendor’s performance.
Key take away: How to calculate your program’s citation collection rate