Beam Software Paying Close Attention to Decline in Residential Telephone Lines

Beam Software has released Pay Harbor, the newest addition to BEAM, its debt purchasing and collection software platform.

“According to a study by the National Center for Health Statistics, there has been a continual incline in the number of households with only wireless service or no telephone service at all.  Approximately 1 in 4 residential phone lines have been lost or replaced with a cell phone,” said Bob Morris, CEO of Beam Software.

In an effort to present a broader range of tools to facilitate more successful contacts, Beam Software has developed an innovative tool called Pay Harbor to provide customers with a connected web portal for consumers that are unresponsive to traditional telephone campaigns.  Pay Harbor’s back-end is integrated in real time with the customer’s website.  A unique letter campaign is generated from BEAM to target specific groups of consumers with an offer code, redeemable through the customer’s website.  Once consumers authenticate their identity, they are provided with up to three options to cure their unpaid balance.  Current metrics show 35% of consumers that visit a BEAM Pay Harbor customer’s website make an online payment or accept a settlement offer.

“We believe that the decline in residential telephone lines provides a challenge to the entire ARM industry,” said Bob Morris.  “High contact rates and right party contacts are harder to come by today.  The challenge is to find out how we can properly motivate debtors since they won’t pick up the phone.  A tool like Pay Harbor is a move in the right direction to empower credit issuers and collection companies.  Pay Harbor has improved gross recoveries by providing a new, digital rendition of the traditional right party contact.”

Beam Software is a subject matter expert on debt purchasing and collections software.  Its product development team is a Microsoft Gold Certified Partner and has written software for Wall Street while each of its executives has been involved in the debt industry for over 25 years.  The company’s innovative collection software is built from real experience using leading edge technologies.