AdvoTrac ® is the proprietary software at the heart of Advocate Capital’s AdvoTrac Case Expense Funding Service. AdvoTrac ® is used both by our team members internally and by our clients via the AdvoTrac Web Portal. Since Continuous Improvement is one of our Core Values, we listen to our clients and employees about ways we can improve AdvoTrac®.
Here are the Winter 2018 AdvoTrac® improvements:
Online Payoff Reports– Clients have the option to pay off cases online within the AdvoTrac Web Portal. If you are a client electronically paying off a case, you will notice we have improved and clarified the Payoff Report. We have removed the remittance address and per diem amounts and the text “amount payable” has been changed to “amount paid” since payment was just submitted online. We hope this will help avoid any future confusion!
Payoff Reports – The “Type” and “Memo” columns were showing the same information on Payoff Reports and, therefore were redundant. So we removed the “Type” column and changed the “Memo” label to “Description.” The “Description” column now shows the transaction type for each row including interim finance charges, loan advances (“advance” is showing if the memo was blank during a funding request), advance plus memo information, and origination fees.
Monthly Summary Emails – Each client receives an automated email from AdvoTrac® each month that recaps their account activity. This email contains three sections. The first section shows the number of cases, case expense line of credit availability, and working capital availability if a firm has a working capital line of credit; the second section shows the firm’s activity for the past month, and the third section shows recent activity. Through client feedback, we determined that the second section could be confusing. So to more clearly define when the activity occurred we added a date range instead of just “as of today” or the email send date.
We want to hear from you! If you have ideas for additional improvements, contact our Accounting department at firstname.lastname@example.org or 615.577.5448 to share your suggestions.