Recently, CR Software announced the establishment of a Government Solutions Division.
CR Software’s CEO Martin Germanis said, “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. 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.”
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.
“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.