transmodus Adds Online Partial Payment Acceptance

transmodus, the technology leader in on-demand payment and collections automation, announced today that it has added new functionalities that include the acceptance of partial payments against outstanding collection debts. This will enable transmodus clients to collect a payable amount from a returned check debtor and apply that payment to adjust and manage the balance. Subsequent automated collection letters will reflect the adjusted balance as the new amount due.

?Our clients have always enjoyed more control over the management of their customer relationships. These new tools are a further extension of that control,? says Richard McShirley, CMO of transmodus, ?Many times one of their customers may owe $100.00 for a returned check, but can only pay $50.00 at that time. Now our client can secure that payment and the transmodus site will recalculate the balance, update the next letter, and continue the collection process. This is the type of functionality that is good for everyone involved to hasten resolution.?

New functionality on transmodus.net also includes the ability for the client to record a police report or bankruptcy notice. Both of these adjustments will automatically stop the collection process of the affected transaction. Also included in the functionality is the ability to update a bad address for ma il returned undelivered to resume the automated mailing process. All of these new features and functions are designed to let the transmodus client have much more real-time control over the management of their customer relationships than they would have in the typical outsourced model.

?Our goal is to provide our clients with the tools to automate what are otherwise disjointed and labor intensive business processes, and in turn to optimize their check collection processing. Listening closely to our clients since going live online in 2002 has allowed us to build an extensive silo of business rules into our processing platforms, and to integrate the best of outsourced and client in-house solutions through a single interface,” according to Michael Shirman, CTO of transmodus. “The transparency and simplicity of our platforms enable our clients to access rich functionality in an online click. This in turn spawns a complex workflow and series of tasks that once required many layers of communication and redundant labor practices that can now be eliminated.”