Experian Introduces ePin+ for CollectionsExperian, Orange, CA, an information solutions company, yesterday announced the launch of ePIN+, a data analysis solution that helps collections organizations reduce expenses and improve operations by tracking the location of payments and statements in the postal system.
The system is based on the U.S. Postal Service's Confirm solution. Confirm uses a barcode called Planet Code that lets mailers track the processing and delivery of outgoing and incoming Standard Mail, Periodicals, First-Class Mail, Priority Mail and Package Services.
Confirm has two services: Destination Confirm and Origin Confirm. Destination Confirm tells mailers when outbound pieces such as bills, statements or advertising solicitations will be delivered. Origin Confirm provides information for inbound pieces such as business reply or courtesy reply mail.
The USPS board of directors approved the market-based pricing for its Confirm tracking service Aug. 6.
When a business provides its data file, Experian uses ePIN+ to build a database for each mailing and then assigns a unique Planet Code to each communication. The system securely stores data on a scalable server platform that is accessible over the Internet or via a company's intranet. Information gathered through ePIN+ can be seamlessly integrated with a user's predictive dialing capability, providing information on the status of the mailed invoice or returned envelope for the debtor with whom they are speaking.
"Our ePIN+ system simply takes the guesswork out of knowing when a payment has entered the postal system," said Laura DeSoto, vice president of marketing, Experian Information Solutions. "Now users know for sure if a customer's check really is in the mail -- before it arrives -- and the date it was sent. With this information, users can improve cash flow forecasting and reconciliation while avoiding costly and unnecessary follow-up calls when remittances have already been sent."
Standard and customized reports are available along with data feeds from custom ePIN+ database queries that can be sent automatically or as requested to individual users or existing information systems.