Press Releases
Introducing Recover: smart software for automated recovery and collections management
March 14, 2006
On Point Technology introduced its newest software application, Recover, at the NASWA Winter Policy Forum in Washington, D.C. last month. With the introduction of Recover, which automates overpayment recovery and streamlines collections management, On Point Technology strengthens its position as the nation's largest independent solution provider dedicated to state workforce agencies and addresses a large unmet need in the unemployment insurance industry.
Recover improves the collection of UI overpayments by automating many components of the process, which allows state workforce agency staff resources to be used more efficiently and facilitates much higher recovery rates. And because every state handles collections differently, Recover is highly configurable in order to accommodate each state's unique statutes, regulations and processes.
States have good reason to implement Recover. New regulations being discussed at the federal level would lead to intensified scrutiny of collections effectiveness. The U.S. Department of Labor's FY 2007 budget overview proposes to establish for recovery at least 60 percent of the amount of estimated overpayments that states detect. States that do not collect overpayments efficiently could be subject to corrective actions by the DOL.
Recover is the first product of its kind, and has the potential to strengthen state workforce agency recovery rates and bring more money back into state trust funds. To schedule a Recover demonstration at your state workforce agency, contact Bob Yokavonus at 908-526-0426 or e-mail robert.yokavonus@onpointtech.com.