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CR Software Updates Collections and Recovery Solution

Collections and recovery software solutions provider CR Software (News - Alert) is this week announcing the release of Titanium 4.7, a new version of the company’s product that includes enhancements such as extensive customer-driven functionality added to improve collections and recovery through the use of alternate communication channels. Titanium, which is built on an open architecture platform, offers credit issuers, government organizations, collection agencies, healthcare groups and retail chains a commercial, off the shelf (COTS) solution with highly functional configuration, scalability and security.

With the changes in the new version, CR Software says it is responding to a major shift in the collections and recovery industry. Integration of multiple communication channels in the updated version helps ensure a best practices collections environment. Within Titanium 4.7, users send encrypted e-mails to opt-in consumers through the Titanium platform, significantly reducing the cost of communication, said the company.

"Combining alternative methods of communication with the traditional contact strategies will help accelerate the collections process," said Jewel Vu-Sheridan, director of Product Management for CR Software, in a statement announcing the new version. "As new consumer channels continue to emerge, it's important to optimize your collection operations to include them."

Titanium 4.7 also includes robust enhancements to the consumer portal; the self-service feature enables consumers to submit e-check payments, create payment schedules and submit SIF (settle In full) offers.

"This new Titanium functionality gives companies and agencies a flexibility that will augment collection rates while simultaneously reducing operational costs." Vu-Sheridan said.

Edited by Brooke Neuman