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When BFIS approached a credit collections agency with offices in
Cleveland and Columbus, Ohio, the customer indicated a need to outsource the constantly growing task of printing and mailing daily collection letters and notices.
After a study of the in-house manual process procedures, current forms, and postal expenses, BFIS was able to propose changes that reduced costs, improved efficiencies and provided increased client data security including:
- Decreased cost of postage and forms by 20%
- Increased revenues on the first collection letter by 22.8%
- Reduction in the number of forms from 15 to 3
- Redesign of letter formats to industry standard 8.5 X 11
Using Advanced Function Print (AFP) software, BFIS was able to create unique and custom-tailored letters and notices, using one single base form and a standardized mailing envelope. Additionally, this allowed for economics of scale by making large purchases at reduced
costs. New printing and programming procedures, along with BFIS’s use of intelligent inserting equipment reduced the total number of mailed pieces by placing multiple lines of detail on a single page and afforded the ability to produce and mail multi-paged collection letters.
The result was a decrease in forms and postage costs of 20%, an increase in the payments received of 22.8% on the initial collection attempt, and a very satisfied customer for BFIS.
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