transmodus Automated Secondary Collections Sees High Adoption Rate

transmodus, the technology leader in on-demand payment and collections automation reports that they have seen a high adoption rate of their Automated Secondary Collections (ASC) service. The service was introduced in the third quarter of 2005 delivering automation to a previously labor-intensive stage in the collections process. The automation more efficiently routes the processing of ineligible transactions that may have been returned from a closed account or from transactions that failed during the re-presentment process to trigger system-generated notification calls and collection letters. Clients are using ASC as the first stage in their secondary collection process. Any returned ACH or checks that fail to be collected using this method are automatically forwarded to legal departments or collection agencies for further action.

The service can also deliver calls or letters independently. The notification calls have been put into service by check collection firms looking to improve their process and results. Check collection firms using the service follow a file exchange protocol provided by transmodus.

“We added transmodus call notification to our secondary collection processing and saw immediate results. In fact, our success rates doubled. Needless to say, we are making it a standard part of our process,” – Actual Processor.

Another benefit of ASC is the consistency it brings to the process as it relates to interaction with client customers and their outstanding collection items. The call script and letter content are approved by the client and only altered at their request and approval.

“My clients are wide open to the idea of automating secondary collections. This service from transmodus improves efficiency throughout the process. My clients definitely see the value,” ? Actual Processor.

The service is provided in a transaction fee model that with even a modest collection rate represents a significant cost savings when compared to more traditional collection models. Developed and tested over the past two years ASC has consistently produced results on par with the national average of collection agencies that make live calls and use letter campaigns.

“Currently we are working to offer call and letter creation, editing and ordering functionality online so our clients can refine their own content and campaigns. This will give them more control to apply calls and letters for collections and additional applications that include automation of billing statement mailings and second notice call notifications,” according to Richard McShirley, CMO of transmodus.