The latest buzz from the market is that Quantrax Corporation Inc. a Bethesda MD company, is continuing its decade long partnership with FMS- Financial Management Systems which has been a successful accounts receivable management company working exclusively in the field of education and student loans.

Financial Management Systems works as a PCA or private collection agency for the United States Department of Education and has been using the debt collection software provided by Quantrax for about a decade since they got the task order in the year 2004 from the Department.

Quantrax has also grown significantly alongside FMS in the recent years by investing significant resources to constantly improve its collection software in order to support the growing footprint of FMS in the accounts receivable management industry.

FMS started its venture as a small business unit within the US Department of Education’s pool of private collection agencies for small businesses. In the year 2009, FMS took a further step as it won a contract in the unrestricted pool of private collection agencies. FMS earned first place rankings on six occasions under this contract and currently is at first place as per the CPCS scores for long term.

Quantrax had initially designed the RMEx / Intelec® application to provide the collection operations using this debt collection platform with the ability to have their system make decisions and think like any human collection agent would. Over the last few years, they expanded this concept, achieving very positive results and increasing the productivity in the different functions of collection workflows, accounts, account representative and compliance management.

Recently Maureen Peterson, the Chief Operating Officer and Executive Vice-President of FMS commented that the organization views the Quantrax’s debt collection software as the primary driving force behind their strategic growth, as FMS continues to expand their collection services for their various clients while being able to serve the students in a better manner, meeting the regulatory requirements at the same time. This statement reaffirmed that the association of Quantrax and FMS will go a long way as both the companies are strategically supporting each other to grow and capture the market in the collections space.

Let’s find out more about both the organizations.

Quantrax Corporation – is a well established technology company that builds state of the art software for collections and other related products for the collection agencies, hospitals, law firms, auto finance, utilities, student loans, banking sector and anyone who manages receivables. RMEx was created in the year 1990 and was designed on the basis of programmed artificial intelligence and a knowledge base. Quantrax is now comfortably positioned as a unique company in the accounts receivable management industry as a result of over 20 years of track record with a knowledge based collections system. In the year 2003, Quantrax created one of the best integrated dialer platforms available in the industry. RMEx operates on the IBM iSeries which is one of the most reliable and powerful hardware platforms ever built.

FMS – is known as a best in the class provider of accounts receivable management or ARM solutions to many high profile entities in the education, government and financial sectors. FMS is a subsidiary of the CEANNATE Corporation which is a recognized business process outsourcing organization and provides key expertise in the financial space with regard to higher education in the US. Their corporate offices are located at Rolling Meadows, Illinois and has approximately 1,000 employees staffed across its headquarters and other branch locations in Buffalo Grove and Rockford, Illinois. The CEANNATE group of companies include FMS, LLC, i3 Group, and Loanlook Inc. and they collectively service education loans to millions of students and other borrowers across the United States of America.