LexisNexis, a major waterfall data resource for collectors across the nation, announced this week that it has debuted a product that marries its data capabilities with a third-party provider’s collection workflow and payment capabilities. The end result: a more robust cloud-based collection tool launched just in time to make a cameo at this week’s DBA International conference.

Collect Point, the name of the new product, is a hosted receivables management platform that comes with a range of functionality, like Web Agent. That feature uses customizable avatars to walk debtors through the payment process online, and even negotiate the terms of payment with them. [Read about avatars in collections here.]

“Everybody is looking for alternative channels,” says Robert Fite, vice president of receivables management.

By 2Q 2011, Collect Point will also offer the industry two other notable features, including:

• Web Collections Manager: A capability used for in-house collection efforts that aims to streamline collection workflow; and

• Vendor Management: An application that offers users tracking and delivering functionality regarding their outsourced collections.

Collect Point has been in the hopper for about a year and a half. Four customers are in beta right now, with the caveat that the technology itself isn’t new to market, rather its integration with LexisNexis is. The primary subscription model for Collect Point is a charge per seat, says Fite. Additionally, the service is customizable, so users can implement all or any of the above modules. The initial user target, according to Fite, are mid-tier companies who are on a growth curb.