Post on 29-Aug-2014
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New Solutions for Managing Cash Flow
Consultation & Service Overview Wolfgang KovacekThe CEO's New Best Friend
818.710.0244 x51Wolfgang.Kovacek@transworldsystems.com
http://web.transworldsystems.com/malibucanyon/
About Wolfgang Kovacek
11 years experience in the Financial Industry working on the floor of the Stock Exchange in Vienna, Austria
13 years of running my own business in the Communications, Web Development and Technology Industry
Your personal Account Executive for Transworld Systems with the commitment:
Making Cash Flow®
“ My commitment is to excellence and the best service for the benefit of the client”
What We Do a) We have been delivering progressive cash-flow solutions to businesses,
medical offices and organizations of all sizes since 1970.
b) 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 traditional collection agencies and attorneys.
c) Our services are based on very low fixed-fee pricing, which ranges usually between $10 - $30 per account, depending on account volume.
d) TSI is fully compliant with all regulations affecting 1st & 3rd party collections, and we provide a hold harmless agreement to every client.
e) Our services allow you to react quickly and appropriately to slow paying accounts and avoid the serious issues associated with accounts receivable.
Making Cash Flow®
Industry Feedback
Making Cash Flow®
“In addition to the superior collection rate and speed of recovery, Transworld’s low fees provide the client with a 30%-70% savings.”
“Transworld Systems Inc. has a Better Business Bureau rating of A+”
“Transworld gets credit for the highest recovery rate in the industry.”
“This company has a collection rate of well over 50%. The typical collection firm only gets 20% and keeps 25%-50% of recovered funds.”
- Can you think of anything in your business that you are doing exactly the same as you did it 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
Making Cash Flow®
A Healthcare Leader
Making Cash Flow®
Over 20,000 medical practices, hospitals & dental practices nationwide trust Transworld Systems
Let’s Agree on a Few Things: - Consistent and effective follow-up can be challenging & expensive - Different kinds of debtors require different kinds of responses - Most businesses would prefer to never have to use a collection
agency at all - The older an account gets, the harder it is to collect
Making Cash Flow®
Let’s Review Your Current Situation
Making Cash Flow®
Four Kinds of Payers
Making Cash Flow®
Type
1. Reliable
2. Distracted
3. Disrespectful
4. Professional Debtors
Why They Pay
1. Statement
2. Reminders
3. Third Party Impact
1. Professional Collectors
* The good news is that over 90% of all customers (or patients) fall into the first two categories for most businesses.
The Problem
Making Cash Flow®
Challenges with the Traditional 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 time goes on-No cap on time or money spent on follow up-No way to create real urgency with slow payers
Reliable Distracted Disrespectful Professional Debtors
The Four Recommended Stages
Making Cash Flow®
Your Initial Invoice
An Optimized Solution
Making Cash Flow®
A New Solution to an Old Problem: -An appropriate response for each type of debtor -Transitions from 1st Party reminders to Collection Demands-Allows you to automate & control your entire A-R process-Fixed-fee based services, averaging $10-15 per account-You can create real urgency when it becomes necessary
STATEMENT
The Solution
Making Cash Flow®
Opinions from Clients
Making Cash Flow®
“The beauty of this service is that all demands for payment look and sound as if they are actually coming from us. Transworld is not acting as a collection agency with the GreenFlag Accelerator service. They are enhancing our in-house efforts and the money that is collected.”
– BMA Tax Service (NATP member and client since 2008)
Time to Move to Stage 3
Making Cash Flow®
STATEMENT
Reliable Distracted Disrespectful Professional
Debtors
Making Cash Flow®
CollectionsDemand 1
Create A Real Consequence, Without Paying A Percentage
Demand 2Collection
Call
Hello. This is an important message from Transworld Systems, a debt collection company. This is an attempt to collect a debt and any information obtained will be used for that purpose.
We are calling in reference to a letter 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 collection company and any information obtained will be used for that purpose. To be connected directly to your creditor, press 1.
Thank you.
Making Cash Flow®
CollectionsDemand 3
Increasing Urgency Creates Greater Chance of Recovery
Demand 4Collection
Call
Hello. This is an important message from Transworld Systems, a debt collection company. This is an attempt to collect a debt and any information obtained will be used for that purpose.
We are calling in reference to a letter 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 collection company and any information obtained will be used for that purpose. To be connected directly to your creditor, press 1.
Thank you.
Making Cash Flow®
CollectionsDemand 5
Making Cash Flow®
ThankYou
Letter
Thank You Letter (optional)
Transworld Collections
Making Cash Flow®
Servicing the few high-risk accounts that go uncollected:• Nationwide team of professional collectors who will turn
up the heat on these overdue accounts• Services include skip-tracing, asset discovery, consumer
and commercial collections, & legal efforts• Contingency based fee structure• You pay only for dollars recovered on these high-risk
accounts• Submit the accounts and pull reporting directly from
your Online Client Portal (OCP)
It is time for the professional debtors to deal with professional
collectors
Bottom Line Results
Making Cash Flow®
Placing Accounts is Easy
Making Cash Flow®
• Submit through secure Online Client Portal (OCP) and submit accounts for any or our services, 24/7access
• Upload accounts one by one or in a batch format
• View or stop accounts, report payments and pull performance reports all from your client portal
• You are in control of your accounts at all times
Some of our Affinity Partners….
Making Cash Flow®
Ask about member discounts!
Benefit Summary
Making Cash Flow®
Transworld Systems’ Key Benefits:• Innovative staged approach to cash-flow management• Fixed-fee based• Lower your internal follow-up and collection expenses • 24/7 client access to detailed activity and performance
reports• Service all of your accounts, regardless of balance or
location• Our processes are compliant with all state and federal
requirements (FDCPA, HIPAA, TCPA, & Others) • Your personal Account Executive will make sure you
maximize our services • Our Performance Guarantee
Opinions from Clients
Making Cash Flow®
“Transworld Systems has saved us time and money on chasing past due customers who are not yet seriously delinquent and has given my staff the time to do all the other things they have to do on a daily basis.” – Mail Services of Houston
“GreenFlag Accelerator takes the place of our business office having to make time-consuming phone calls, and send costly collection letters. We send one bill to our patient, and at 30 days transfer it to Transworld and they do all the work for us.” – Delta/Medix
Setting Up Your System
Making Cash Flow®
Unit Cost on Monthly Usage
Making Cash Flow®
Estimated 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
New Solutions for Managing Cash Flow
Consultation & Service Overview Wolfgang KovacekThe CEO's New Best Friend
818.710.0244 x51Wolfgang.Kovacek@transworldsystems.com
http://web.transworldsystems.com/malibucanyon/