Tsi Challenger Overview
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New Solu)ons for Managing Cash Flow Consulta*on & Service Overview
Transcript of Tsi Challenger Overview
New Solu)ons for Managing Cash Flow
Consulta*on & Service Overview
What We Do
① We have been delivering progressive cash-‐flow solu*ons to businesses, medical offices and organiza8ons of all sizes since 1970
② We have assisted over 200,000 clients in resolving $6 billion in A-‐R over the past decade, helping them to eliminate their need for tradi8onal collec8on agencies and aEorneys
③ Our services are based on fixed-‐fee pricing of around $10 per account, depending on account volume
④ TSI is fully compliant with all regula8ons affec8ng 1st & 3rd party collec8ons, and we provide a hold harmless agreement to every client
⑤ Our services allow you to react quickly and appropriately to slow paying accounts and avoid the serious issues associated with accounts receivable
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Industry Feedback
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“In addi*on to the superior collec*on rate and speed of recovery, Transworld’s low fees provide the client with a 30% -‐ 70% savings.”
“Transworld gets credit for the highest recovery rate in the industry.”
“This company has a collec*on rate of well over 50%.
The typical collec*on firm only gets 20% and keeps 25%-‐50% of recovered funds.”
“Transworld Systems, Inc. has a BeSer Business Bureau ra*ng of A+”
Can you think of anything in your business that you are doing exactly the same as you did five or ten years ago?
Where has technology made a difference in your business?
Are you open-‐minded about new ideas for solving old problems?
Some of Our Clients
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A Healthcare Leader
Over 20,000 medical prac*ces, hospitals & dental prac*ces na*onwide trust Transworld Systems
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-‐ Consistent, effec8ve follow-‐up can be challenging and expensive -‐ Different kinds of debtors require different kinds of responses -‐ Most businesses would prefer to never use a collec8on agency at all -‐ The older an account gets, the harder it is to collect
Let’s Agree on a Few Things
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Let’s Review Your Current Situa*on
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Four Kinds of Payers
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Type
1. Reliable
2. Distracted
3. Disrespec]ul
4. Professional Debtors
Why They Pay
1. Statement
2. Reminders
3. Third Party Impact
4. Professional Collectors
* The good news is that over 90% of all customers (or pa8ents) fall into the first two categories for most businesses.
The Problem
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STATEMENT
Challenges with the Tradi*onal Approach: -‐Debtors know they owe, but may not care -‐It is very expensive to follow up in-‐house ($31.60) -‐Customers less likely to respond as 8me goes on -‐No cap on 8me or money spent on follow up -‐No way to create real urgency with slow payers
Reliable Distracted Disrespec]ul Professional Debtors
An Op*mized Solu*on
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STATEMENT
STATEMENT
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A New Solu*on to an Old Problem: -‐An appropriate response for each type of debtor -‐Transi8ons from 1st Party reminders to Collec8on Demands -‐Allows you to automate & control your en8re A-‐R process -‐Fixed-‐fee based services, averaging $10 per account -‐You can create real urgency when it becomes necessary
Hello. This is not a telemarke8ng call. This is <TSI Client Name> calling regarding your account and a leEer we recently sent you on <Date>. This message is for <Debtor Name>.
Please contact us at your earliest convenience at <Phone> and reference your account number <Account>. Again, that’s <TSI Client Name> at <Phone>.
Thank you for your immediate aEen8on to this maEer. To be connected directly to your creditor, press 1.
Reminder 1 & 3:
Friendly Reminder LeSers
Reminder 2 & 4:
Friendly Reminder
Calls
For those that need a simple reminder to pay
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Most people have paid by now. Those who haven’t need a consequence, a real reason to respond
Increasing Urgency
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Time to Move to Stage 3
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STATEMENT
Reliable Distracted Disrespec]ul Professional Debtors
Collec*ons Demand 1
Demand 2 Collec*on
Call
Create a real consequence, without paying a percentage
Hello. This is an important message from Transworld Systems, a debt collec8on company. This is an aEempt to collect a debt and any informa8on obtained will be used for that purpose.
We are calling in reference to a leEer we sent you on <Date> regarding our client <TSI Client Name>. Please return the call to <TSI Client Name> at <Phone>. Again, that’s <TSI Client Name> at <Phone>.
When calling please refer to your id code <Account>.
Transworld Systems is a debt collec8on company and any informa8on obtained will be used for that purpose. To be connected directly to your creditor, press 1.
Thank you.
Making Cash Flow®
Collec*ons Demand 3
Demand 4 Collec*on
Call
Hello. This is an important message from Transworld Systems, a debt collec8on company. This is an aEempt to collect a debt and any informa8on obtained will be used for that purpose.
We are calling in reference to a leEer we sent you on <Date> regarding our client <TSI Client Name>. Please return the call to <TSI Client Name> at <Phone>. Again, that’s <TSI Client Name> at <Phone>.
When calling please refer to your id code <Account>.
Transworld Systems is a debt collec8on company and any informa8on obtained will be used for that purpose. To be connected directly to your creditor, press 1.
Thank you.
Increasing urgency creates greater chance of recovery
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Collec*ons Demand 5
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Thank You LeSer (op8onal)
Making Cash Flow®
Placing Accounts is Easy
• Submit through our secure Online Client Portal (OCP) 24/7 • Upload accounts one-‐by-‐one or in a batch format • View or stop accounts, report payments and pull
performance reports all from your custom client portal • You are in control of your accounts at all 8mes
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Seeng Up Your System
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Transworld Collec*ons
Servicing the few high-‐risk accounts that go uncollected:
• Na8onwide team of professional collectors who will turn up the heat on these overdue accounts
• Services include skip-‐tracing, asset discovery, consumer and commercial collec8ons, & legal efforts
• Con8ngency based fee structure • You pay only for dollars recovered on these high-‐risk
accounts • Submit the accounts and pull repor8ng directly from
your Online Client Portal (OCP)
It is 8me for the professional
debtors to deal with professional collectors
Making Cash Flow®
Sales
Resources
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What the Experts Say:
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On The Challenges of Collec*ng Internally:
"Despite the fact that cash is the lifeblood of a business -‐-‐ the fuel that keeps the engine running -‐-‐ most business owners do not truly have a handle on their cash flow”
“It costs businesses approximately $31.60 to recover a past due account.”
“American businesses have a growing amount of their capital 8ed
up in accounts receivable, poten8ally making it harder for them to kick-‐start growth.
“53% of surveyed small business owners said they are experiencing
cash-‐flow problems.”
Dartnell’s Institute of Business
Benefit Summary
TSI’s key benefits:
• Innova8ve staged approach to cash-‐flow management • Fixed-‐fee based • Lower your internal follow-‐up and collec8on expenses • 24/7 client access to ac8vity and performance reports • Service all of your accounts, regardless of age, balance
or loca8on • Our processes are compliant with all state and federal
requirements (FDCPA, HIPAA, TCPA, & others) • Your personal Account Execu8ve will make sure you get
the best possible results from our services • Our Performance Guarantee
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Unit Cost on Monthly Usage
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Es*mated Usage Per Month Number of Accounts: Price per Account:
9000+ 200,000 $5.25 6000 -‐ 9000 150000-‐199999 $5.50 5000 -‐ 6000 100000-‐149999 $5.75 3000-‐4000 75000-‐99999 $5.99 2000-‐2500 50000-‐74999 $6.25 1000-‐1500 25000-‐24999 $6.75 750-‐900 15000-‐24999 $7.25 500-‐700 10000-‐14999 $7.75 250-‐400 5000-‐9999 $8.75 100-‐250 2500-‐4999 $9.50 40-‐50 1000-‐2499 $9.99 20-‐40 500-‐999 $10.99 10-‐15 250-‐499 $12.50 3-‐5 100-‐249 $13.25
Regulatory Compliance
Compliance is one of TSI’s key benefits and corporate mandates. We are fully compliant with the TCPA, FDCPA and HIPAA requirements.
How important is priori8zing compliance in today’s regulatory environment? Here are just a few of the companies that have had lawsuits, judgments or seElements in just the last year:
Making Cash Flow®
Dell, Jiffy Lube, Google, Microsoi, Dish Network, Arrow Financial, Sallie Mae, TwiSer, The Huffington Post, Wilcrest Healthcare, Standard Mutual Insurance, and many more.
Recommended Four Stage Approach
Outsourced In-‐House Efforts
In Your Name
Pre-‐ Collec*on
3rd Party Demands
3rd Party Verbal
Demands
90 Days
Demand
1
Courtesy no*ce
100 Days
Demand
2
Call #1
110 Days
Demand
3
WriSen Demand
120 Days
Demand
4
Call #2
130 Days
Demand
5
Final Demand
We contact slow-‐paying accounts every 10 days increasing intensity in each demand, without aliena8ng your customers.
Early use of a diploma*c Third Party at a controlled cost. You maintain control of your accounts.
150 Days + Intensive Collec*ons and/or Legal Ac*on
This is where professional debtors must deal with professional collectors
30 Days
Diploma*c Reminder
LeSer #1
40 Days
Diploma*c Reminder
Call #1
50 Days
Diploma*c Reminder
LeSer #2
60 Days
Diploma*c Reminder
Call #2
70 Days
Final Warning LeSer
Ayer 1st invoice or ini8al statement, accounts go to Accelerator – limi8ng internal efforts & expenses. You control the whole process
Systema*cally engage your customers with 5 reminders
Your In House Efforts
Send Invoice or Ini*al Statement
Client
Tradi*onal Accounts Receivable Model:
• Debtors know they owe, but may not care
• Customers are less likely to respond as aEempts con8nue
• There is no cap on the 8me or money spent on follow-‐up
• Businesses and prac8ces follow this model due to the high cost of collec8on agencies, and fear of aliena8ng their customers or pa8ents
• There is no way for a business to know who is a “casual” delinquency, and who is a serious non-‐payer
0 60 90 120 150 30
The Challenge
Making Cash Flow®
Customer Concern Level
The Solu*on
0 60 90 120 150 30
Accelerator Profit Recovery
Accelerator®
• 1st Party: You are asking for payment, but TSI is doing the work • Five Contacts in 40 days, all in your businesses or prac8ce name • Caps 8me and money spent on follow up – Limits your touches • Standardizes your AR process • Accelerator separates casual delinquencies from serious ones
• 3rd Party: Five Collec8on Agency Demands in a span of 40-‐60 days • TSI fills “bill collector” role • Every demand creates greater urgency • S8ll allows you to help the debtor resolve their debt • Greater leverage allows you to control the process (payment terms, credit, etc.) • Services are fixed-‐fee based
TSI Collec*ons
Making Cash Flow®
Urgency
