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ECSI Presentation Delinquent Receivables Management

ECSI Presentation Delinquent Receivables Management. Gary Hauser ECSI, Senior Vice President. 26% of Americans admit to not paying their bills on time. FACT. Higher Tuition Prices & Lower Enrollment Fewer Campus Initiatives Increased Job Loss. Results of Unpaid Debt on Your Books.

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ECSI Presentation Delinquent Receivables Management

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  1. ECSI Presentation Delinquent Receivables Management Gary Hauser ECSI, Senior Vice President

  2. 26%of Americans admit to not paying their bills on time. FACT

  3. Higher Tuition Prices & Lower Enrollment • Fewer Campus Initiatives • Increased Job Loss Results of Unpaid Debt on Your Books

  4. Manual Processes • Letters • Phone Calls • Email • Paper & Postage • Costly • Time Consuming • No Online Payment Options • Paper Checks • Credit Card in Person How is Delinquent A/R Solved Today?

  5. We have also found that at a high number of institutions, people are hired to do one job but end-up having to do another…such as collections. • Don’t understand best practices • Don’t have necessary tools or training • Don’t have time How is Delinquent A/R Solved Today?

  6. Lastly, we discovered that many institutions will just dump a high number of accounts to a collection agency and hope that some money comes back. No system of accountability. How is Delinquent A/R Solved Today?

  7. Slow turn-around times to get bills/notices to debtors. Decreased success rates due to outgoing info never reaching debtor. How Does This Impact Collections? • Limits the number of accounts a staffer can work on, thus limiting the number of debtors being contacted at any one time.

  8. Makes collecting your money costly to you. • Makes it difficult for your debtors to pay you. How Does This Impact Collections?

  9. Implement Automated Processes • Phone Calls • Emails • Letters • Agency Placement • Skip Trace Accounts • Ensure contact info is up-to-date & accurate • Track progress of collection agencies • Make sure they are working the best they can for you 3 Ways to Increase Collections

  10. Easiest & least expensive way is to outsource to a 3rd party. • Implement “soft collection”process & tools. • Benefits school, agency, & debtors. How Do I Do This?

  11. 24x7 On-line Data Access Monthly Bill Creation and Data Back-Up Integrated Collection Module Management Tools Automatic Collection Agency Placement Options Automatic Collection Fee Assessment Single System How Do You Benefit?

  12. Electronic Payment Options available 24/7/365 • Electronic ACH • Electronic Credit Card • Automated Skip Tracing Services • Automated Phone Call Services • MS Word Document Writing Capabilities • Credit Bureau Reporting Services How Do You Benefit?

  13. Automatically places accounts with agency. • Ensures agency works every account you send. • Keep debts moving. • Increases effectiveness. ECSI’s Delinquent A/R Management

  14. Debtor pays less fees. • Online account & tools to assist in managing debts. • Multiple payment options that ensure they have several ways to get you your money. How Does the Debtor Benefit?

  15. Time • Resources (postage & paper) • People • …Plus Increased Returns What Savings Could I See?

  16. How it Works Updated Demographic Information COLLECTION AGENCY Bills Delq. A/R Files Phone Calls & Emails (WEB-ACCESS) SCHOOL DEBTORS Delq. A/R Return Delq. A/R Return BANK * As illustrated above, a client simply sends their Delinquent A/R files to ECSI, and then ECSI does the rest.

  17. Questions

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