Phoenix, Ariz. – October 14, 2010 – BillingTree, Inc, one of the nation's leading on-demand payment processors, is now offering its express check recovery tool to additional industries including Utility and Healthcare. The Check Collect solution enables companies to streamline the returned-check process by optimizing collection rates for Non-Sufficient Funds (NSF) items and centralizing management of outstanding balances.
As a common policy, NSF checks are typically re-presented automatically over three consecutive days, not allowing overdrawn account owners a realistic window to deposit more funds. BillingTree's express recovery process strategically manages returns, holding checks and re-presenting them on specific dates that are the most likely to yield a return. For example, Check Collect re-presents checks on specific dates such as the first or fifteenth of the month, rather than successive days, increasing the likelihood of funds being available as well as saving time and resources on wasteful resubmissions.
The solution also helps Utilities and Healthcare providers centralize their volume of returned checks across the entire enterprise, which not only simplifies the management process, but further decreases the risk associated with these transactions, as they are carried out by one system. By directing checks with insufficient funds from current depository banks to BillingTree's central system, Check Collect users are ensured to receive optimum return on check funds via a convenient and flexible fund-collection management process.
"A broader range of industry verticals, including Healthcare and Utility, have been requesting additional components of our comprehensive suite of billing and payment solutions," commented Scott McCollum, BillingTree's president. "Now more businesses can take advantage of our unique check fund collection strategies not available within the typical return process."
BillingTree supplies the leading fully integrated, multi-channel electronic payment platform to a growing list of Industries, including Utilities such as power, cable, municipal, and phone as well as Healthcare and Subscription-billed services. Benefits of electronic payment solutions include an accelerated availability of consumer funds, reduced costs associated with manual-payment processing, improved cash management, and integrated processing by managing all payments, returns, and corrections through a single portal.
The proven leader in on-demand payment processing, BillingTree empowers customers with competitive advantage through a simplification of the billing and receivables process. By delivering the most innovative technology while making it as easy and inexpensive as possible to accept payments, BillingTree has revolutionized the payments landscape. Our software-as-a-service (SaaS) model delivers industry-leading payment solutions, proven integration, and point-and-click simplicity. BillingTree’s focus on innovation has allowed us to help more than 1,500 customers eliminate manual processes and automate their payment cycles. BillingTree – Growth is our Business. For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.
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