Higher Education Accounts Receivable Management
For over twenty (20) years ERS’ specialty has been serving the Accounts Receivable Management needs of the Higher Education Community. ERS’ Clients include Colleges & Universities, Guarantee Agencies, Private Lenders, and the Department of Education (ED). ERS provides a wide array of Industry services including; traditional delinquent receivable & loan account collections, first party call center services, skip tracing, a default aversion program and more.
Campus Based Services
Enterprise Recovery Systems, Inc. (ERS) was incorporated in 1988 for the sole purpose of bringing Higher Education a new level of service and collection success. For over twenty (20) years now ERS has specialized in assisting Colleges & Universities with meeting their Accounts Receivable Management needs. We are proud of our record in helping clients turn their most challenging student customers into an ongoing revenue stream. With every client, we establish a standard of success that is demonstrated through our balanced approach to the resolution of delinquent student accounts, dedication to quality assurance and exceptional customer service.
ERS provides its clients with an outstanding return on their investment. Thanks to our professional methods, veteran staff and unique technology, we consistently are achieving a higher recovery rate than our competitors. At ERS, we have the staff, industry partnerships and proprietary systems that allow us to assure you that we will recover a greater percentage of your delinquent portfolio and do it in a shorter timeframe.
The deep collections experience of our management team and extensive training and development of our personnel have become the catalyst for the high standards we have set as an agency. In an industry notorious for high turnover, many of the management, customer service, and collection staff members have been on board 10 years and more. This makes all the difference in the world for program performance and client satisfaction.
At ERS, we provide advanced, user-friendly technology for our clients and their students. Using our robust client portal (Navigate), clients can get real-time reports, review all notes & transactions on accounts, securely upload placements & records, in addition to a multitude of other functions. ERS additionally offers your access to our online bill pay website (www.HelpuPay.com) 24/7 to set up payment arrangements. Finally, ERS leverages the latest technology to offer better skip tracing to our clients, because the more students we can locate, the more dollars we can collect on your behalf.
ERS’ broad array of services assists our clients in managing their receivables—and then some. Services alone, however, are just “table stakes.” The reason each of our clients enjoys so much success with ERS is because we create a tailor-made collection strategy just for them. No two programs are alike. Some of our customized solutions include
- Federal Loan Recovery (Perkins, Nursing, HPSL, etc.)
- A Dedicated Perkins COHORT Resolution Team and COHORT program
- Accounts Receivable Recovery
- First-Party Inbound/Outbound Call Center Services
- Text Messaging
- Virtual Agent
- International Collections
- Skip Tracing Services
- Free Credit Bureau Reporting
Today, we have developed a client base that exceeds 300 Colleges and Universities. Our College and University clients operate in forty (40) states, with delinquent or defaulted borrowers in every state and many foreign countries. All told, ERS has serviced more than 1.5 million borrower accounts totaling more than 4 billion dollars. Our educational market focus has led to the development of a sophisticated collection system with the capacity to manage contractual obligations as well as the intricate timelines associated with both federal and state regulations. These contracts have also challenged ERS to successfully develop sophisticated individualized interfaces for the exchange of data in effective and efficient manners.
Guarantee Agency Services
ERS has been performing FFELP collection services to the Guarantee Agency Community since 1993. ERS’ success within this market is largely due to our ability to maximize borrower interaction and produce the most direct collection dollars possible while providing borrowers with opportunities to benefit through programs such as loan rehabilitation.
ERS has created a strategy that incorporates the appropriate corporate fee incentive for desired activities, strengthened work flow and quality control over the collection process. This strategy maintains the integrity of the collection goals. The requisite collector incentive and compensation programs direct their activity to the appropriate collection actions.
In addition to being an expert in the collection of defaulted FFELP Loans, ERS is also an expert in Federal compliance requirements. Understanding the critical need for program compliance ERS has developed a systematic Due Diligence Safeguard Program. The programming modifications implemented in the Due Diligence Safeguard Program (DDSP) are in keeping with contractual requirements.
ERS offers our clients;
- Immediate access to superior industry and technical resources that will be leveraged to meet your requirements.
- Engagement team expertise. Expertise has a tremendous impact on the value we bring to our clients and the efficiency with which we execute our service approach. Key people who have served both student-loan and collection environments in the past will have leadership roles on this project.
- Alignment of our team to meet the needs of your College or University. As regulatory changes occur, you will face a myriad of issues–operational, technological and financial. As you address new regulations and industry changes, you will need the ability to quickly analyze and implement changes in the regulations and reporting requirements. To capitalize on this, you need to partner with a firm that will understand the issues and can deploy its resources immediately.
- Dedicated, experienced collection and student loan industry professionals to address your issues and challenges. The professionals we have chosen to assist you work in no industry other than the student loan sector. They have the depth of experience that can only result from years of serving prominent institutions in the student loan industry. They will leverage this knowledge base to your College or University with insight, direction and practical solutions to proactively address your tough issues and ensure that defined parameters are met.