Technology

Our dedication to advanced systems and software enable us unsurpassed opportunities in our field. CMI is dedicated to bring you the following technologically advanced services. Please click on a link below to find out more detailed information.

	Collectnet		Electronic Payments
	New Business Uploads		Paperless Reporting

CollectNet

One of CMI's main focuses is client retention. As a result of our extensive market research, CMI has placed real-time interaction as a top priority.  We have listened to your requests for the following:

1. Real-time interaction with collectors and management.
2. Access to your debtor information.
3. Specific reports regarding payments, and statistics.
4. Easy access from most computers with no special software to be purchased.
5. An easy to use, point-and-click interface.

In an effort to satisfy this need, CMI implemented CollectNet in 1999 making us one of the first collection agencies to offer a web based, real-time client interaction system.  Through this system, CMI's clients can do the following:

Please schedule an appointment with one of our sales representatives to find out more about our CollectNet system by clicking here, or calling 1-800-456-3328 ext 147.

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New Business Uploads

CMI emphasizes that placing your accounts with us should be easy. Most of our clients are using some type of accounting software (such as PeachTree, Quickbooks, SAP, etc) to keep track of their receivables. These software programs usually have the ability to export the information that is necessary to collect a debt. This is why we offer our clients the option to send us "uploads." These uploads can be in a Comma Separated Values (CSV) file, a Microsoft Excel file, or almost any other type of common file containing the basic information about the debtor.  This information includes:

Download the Simple Upload Spread Sheet (Excel Format) by clicking the link. Not all fields on this spreadsheet are necessary. The ability to add additional information specific to the placement is as easy as adding fields to the file that you send to us.

When an upload is sent, your dedicated sales representative will review the file, and it will be directly entered into our collection system. CMI begins work on your accounts the next business day.

Please schedule an appointment with one of our sales representatives to find out more about our ability to upload your new business placements by clicking here, or calling 1-800-456-3328 ext 147.

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Electronic Payments

When a debtor agrees to pay the bill, the CMI collector offers to process that payment through one of our electronic payment systems. This makes it more difficult for the debtor to say no and resolves the bill very quickly, often within hours. In the time it takes for a check to arrive by mail, CMI has the payment in our office, posted and cleared. All electronic payments collected by CMI are verified twice to insure the correctness of the payment information.  CMI currently uses 4 types of electronic payments.  They are as follows:

ACH Payments: This dynamic technology has proven to be one of the most valuable collection programs for CMI's clients. Our ACH technology allows CMI to automatically draw funds from a debtor's bank account. The debtor simply provides their banking information and CMI electronically withdraws the funds from their account and deposits it into our fully insured escrow account. An ACH withdrawal takes precedent at the clearinghouse and is paid before other checks are cleared. For example if a debtor has $1,000 in their account, and the bank receives our ACH withdrawal for $800, and a check for $1,000...you guessed it our ACH withdrawal gets paid, and the check bounces. We will also know if the debtor's funds have cleared within 3 business days compared to the standard 5-7 business days.

Tele-Pay: The Tele-Pay System gives CMI the ability to generate a debtor's check in our office. By simply obtaining the debtor's banking information and their verbal approval, CMI can produce a valid check ready for deposit.  This allows a debtor to receive a physical cancelled check drawn from their bank account.

Credit Card Payments: Another innovative collection technique CMI offers the debtors is the ability to pay our client's bill with their Visa, MasterCard, or American Express. CMI has found the additional flexibility credit cards offer to be worthwhile. Debtors can make the small payments they want and, at the same time, you receive the balance in your bank account without risk of non-sufficient fund checks. Credit Cards provide a distinct advantage for CMI's clientele.

All payments are authorized through a third party verification system which includes the recording of the approval.

Through the aforementioned systems, debts are collected in minutes instead of days or weeks.

Please schedule an appointment with one of our sales representatives to find out more about our Electronic Payment options by  clicking here, or calling 1-800-456-3328 ext 147.

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Paperless Reporting

We know that knowledge is power, and the faster you can gather that power the better. This is why CMI has moved towards a paperless reporting system. We have the ability to send you reports via email, to better assist your collection department. These reports include Status Reports, Daily Payment Reports, Monthly Payment Reports, Stair Step Reports, Collection Performance Reports and Customized Reports.

Status Reports: You have the ability to set up a  monthly schedule with your service representative to receive a status report on either all of your active accounts, or all accounts since becoming a client. These status reports are sent in Microsoft Excel format and include the following information:

1. CMI's reference number for the debtor
2. The name of the debtor
3. The original balance of the debt
4. The total amount paid to date
5. Current balance owed
6. The date originally placed at CMI
7. The date of the last payment
8. An acronym describing the status of the account
9. Your reference number for the debtor (if given to CMI)
10. Your client number with CMI
11. Your Company Name

Click Here to see a sample Status Report

Daily Payment Report: Clients now have the option to view their daily payment reports in real-time over the internet. CollectNet's real-time daily payment report allows you to see:

1. The debtor's account number
2. The date of the payment
3. The debtor's name
4. Your reference number for the debtor if provided
5. The city, state, and the phone number for that debtor
6. The payment type
7. Payment amount
8. Amount retained
9. Fees
10. Amount you should receive on your invoice
11. Summary information about the types of payments you have received
12. Month to date number of transactions and dollar amounts
13. Year to date number of transactions and dollar amounts for the current year
14. To date number of transactions and dollar amounts since you have been a client

Click here to see a sample Daily Payment Report

Monthly Payment Report: The monthly payment report gives you the same information listed for the daily payment reports, but in a monthly listing.

Click here to see a sample Monthly Payment Report

Stair-Step Report: This report is perhaps the most powerful tool offered through CollectNet. This report summarizes the amount placed in a month, and a monthly breakdown of when  the money is collected. It also gives you a percentage figure. This will very quickly give you an average timeline of CMI's collections.

Click here to see a sample Stair-Step Report

Client Performance Report: The client performance report allows you the client to see summary information regarding the collection of your bills.  The report contains the following information about your accounts for the 2 previous years, twelve month rolling, and the current year to date:

1. Number and dollar amount placed
2. Number and dollar amount cancelled
3. Net number and dollar amount placed
4. Average dollar balance of accounts
5. Any interest, or adjustments on the accounts
6. Monthly and to date dollar amount collected
7. The liquidity percentage
8. The number and dollar amount returned
9. The number and dollar amount still active or being worked

Click here to see a sample Client Performance Report

Customized Reports: CMI knows that part of our job is to make your job easier. Therefore, if you are looking for specific information, information in a different format, or the ability to pull what you want when you want it, CMI is for you! With over 10 years of combined experience CMI's MIS department is dedicated to providing you with the report you need.  We are able to pull information directly from our system and deliver it to you in Microsoft Excel, Comma Separated Value (CSV), or almost any other format you can imagine. This information will be gathered, processed and delivered to you via email.

Please schedule an appointment with one of our sales representatives to find out more about our Paperless Reporting Services by clicking here, or calling 1-800-456-3328 ext 147.

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