Kinum, a Salt Lake collection company with a national presence, is celebrating their first year of business. The company, which previously operated as Fidelis Collections for six years, focuses on helping businesses implement better collection procedures while maintaining their client base.
Kinum’s President and industry veteran Bruce Klinger states, “We recognized our clients’ two primary concerns of assigning slow pay and non-paying accounts into collections: They did not want to lose a customer and they did not want to further decrease their margins by paying a collection agency.”
To address these challenges, Kinum developed a pre-collection solution that businesses can purchase for an average rate of $18 per account. This “Connect” phase consists of 9 automated payment reminders designed to encourage repayment while remaining positive and diplomatic. Businesses are able to add debts, pause, or halt the collection process at any time through Kinum’s cloud based debt software. “Our Connect Phase is a solution to both concerns because it provides our clients early diplomatic intervention at a nominal cost,” says Klinger of the product.
After the pre-collection process, Kinum gives clients the option to automatically transfer uncollected accounts to their full-service contingency collection agency. Known as the “Collect” phase, further efforts are made to collect the debt. In addition, Kinum partners with a network of attorneys to pursue legal action when necessary. “It’s an end-to-end solution” says Brent Sloan, Kinum Founder and CEO. “By intervening early and following up regularly, most businesses can see a huge improvement in their cash flow. Clients have achieved recovery rates of up to 70% after fully implementing our system.”
Kinum continues to grow and offer services across the country. Chief Compliance Officer Rick Rainho, head of the Indianapolis collection office, states, “Kinum has just turned one and looks forward to the terrible two’s. The groundwork has all been laid and with national licensing just about behind us, we look forward to our expansive growth phase. Soon we will be unveiling a new state-of-the-art client portal, which will propel us as the agency with the easiest, most effective solution at the best value.”
“It’s a system that just makes sense,” continues Sloan. “It’s easy to implement, easy to use, and easy to see results.”
Kinum is a professional collection agency founded on the idea that businesses deserve to keep their customers and their cash. Since launching in 2013, Kinum has added locations in Sacramento, Iowa, Virgina, Florida, and Indianapolis, with plans of franchising the sales model. Kinum is a registered trademark of BaseCamp Franchising located in Salt Lake City, UT.