CR Software (News - Alert) has collaborated with Verx Communications Inc. for offering compliant text messaging functionality to software users. The GoLiveSMS offering, which improves collection and recovery rates through Free To End User, or FTEU text messaging distribution, is offered by Verx Communications. CR Software users of the Platinum platform will now be able to avail the GoLiveSMS offering, which also complies with the state-by-state regulations.

In a release, Marisa Zalmanis, Strategic Alliance manager, CR Software said, "GoLiveSMS has had tremendous success with both Third Party collectors as well as Direct Lenders over the last 4 years. Their FTEU messaging and Non Autodialer Platform eliminates the prohibitions previously placed on collectors to communicate with their customers via cell phone. We're really excited to bring this tool to our Platinum users."

It has been observed that the rates of recovery are greater when consumers are contacted via text-messaging. Text-messaging is therefore an economically viable offering for agencies.

According to Chris Baggett, VP, Business Development, Verx Communications, this type of communications tool will ensure the highest collection results for CR Software Platinum users.

Baggett said, "We've had collection agencies report as high as a 12% inbound call rate with 80% of those calling in to make a payment. All of this generally occurs within the first 3 hours, for a fraction of the cost of a postage stamp. GoLiveSMS attributed much of their success to their strict data security and management policies. We manage the opt-out process and monitor the data content for regulatory compliance, allowing us to provide quality service without a single complaint for over four years."

CR Software has vast experience in deploying collections recovery and debt management platforms. The organization has developed the Titanium ORE or Open Receivables Environment, which is thought as the best open architecture platform currently available in the market. A Commercial off the Shelf or COTS offering is provided by Titanium to credit issuers, government organizations, collection agencies, healthcare groups and retail chains.  

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