Fairfax, VA (PRWEB) November 30, 2011
CR Software, the world's leading collections and receivables management software supplier announced today the establishment of a Government Solutions Division.
“As most of us know, the private sector isn’t the only area struggling with decreased operational funding, record debt levels and high consumer expectations,” said Martin Germanis, CEO, CR Software. “The public sector is being asked to do more with less. Government budgets have been cut and staffs have been reduced. Budgets across the country are stretched tighter than ever,” he stated.
Government leaders are rethinking debt collection, recognizing the impact increased collection revenue has on budgets at every level. “We’ve been helping agencies at the Federal, state and local level increase collection revenue for years. Creating a government division is a natural step as we continue to expand our expertise in this area,” Germanis said.
The U.S. Department of Education, collecting more than $33 billion debt from three million borrowers and more than 15 million active loans recently implemented CR Software’s Titanium ORE (Open Receivables Environment) platform as their system of record. The office of Federal Student Aid plans to increase student loan recovery by almost three percent by the year 2015, using Titanium as the basis for this increase.
The State of Mississippi doubled collection revenue in one year following the implementation of Titanium. Other states, agencies and counties across the country are experiencing similar, tangible success.
Property taxes, unemployment insurance overpayments and fraud detection, child support, DMV fees, fines and other charges are included in the debt types Titanium specializes in collecting. “The beauty of the Titanium platform is its’ ability to collect every type of debt, integrating with legacy and any other system or application an agency requires, using one platform, one download and one support system” said Germanis.
Germanis went on to document the savings government agencies realize using Titanium. Designed to accommodate a wide variety of business processes to support the most complex environments, agencies gain the ability to significantly improve processes in real time, independent of vendor assistance with little additional cost.
“Configurability is key. Not only do government agencies save a tremendous amount of money because the system is so flexible, it also puts them in control. They collect more because they’re meeting their own specific requirements, revising workflow processing to meet ever-evolving needs,” Germanis stated.
About CR Software
Established in 1984, CR Software has more than 27 years experience implementing collections recovery and debt management platforms, currently offering Titanium ORE (Open Receivables Environment), considered by industry experts the best open architecture platform on the market. CR Software offers government agencies an enhanced set of capabilities as the basis to dramatic increases in recovery revenue, as a Configurable Commercial off the Shelf (CCOTS) solution with a configuration, flexibility and security unavailable from any other software provider.