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EPR Archived News |
Druml Group Launches Online Invoice Collection Application for Construction IndustryReleased on = March 15, 2005, 8:05 pm Press Release Author = Druml Group, Inc. Industry = Construction Press Release Summary = Druml Group, Inc., a leading provider of business, financial, and risk management services to the construction industry, announces the launch of its new online E-Collection system. E-Collection is a method of accounts receivable collection that integrates both the Internet and discount incentives into the collection process to speed up the movement of money. As part of the launch, use of the system is free for 30 days. Press Release Body = FOSTER CITY--Mar. 15, 2005--Druml Group, Inc., a leading provider of business, financial, and risk management services to the construction industry, announces the launch of its new online E-Collection system. E-Collection is a method of accounts receivable collection that integrates both the Internet and discount incentives into the collection process to speed up the movement of money. The E-Collection system is perfect for those willing to provide prompt-payment discount incentives to their customers to encourage speedy payment. It uses the power of the Internet to provide an easy, non-threatening way to offer instantaneous prompt-pay discount incentives. For contractors and suppliers trying to collect outstanding invoices, the system encourages early payment and for those who have invoices to pay, the system rewards early payment. "The construction industry leads all other industries in the late-pay category with an average turnaround time for payment of goods and services of 69 days,” noted David Druml, President of Druml Group. “As a result, money is typically in short supply and can be a serious concern for those within industry. Construction-related companies must succeed in collecting money in order to avoid the pitfall of working capital shortages, and the E-Collection system is the perfect solution." E-Collection utilizes a three step process. After signing in, users: 1) Identify a customer from whom they would like to collect payment After the user completes steps 1, 2 and 3 the system sends an instantaneous fax and
e-mail alerting the user’s customer of the discount offer. Then, Druml Group
applies its expertise to encourage the customer to take advantage of the offer.
Finally, Druml Group processes an electronic payment, which is express mailed to the As part of its launch, Druml Group will be providing the E-Collection service free*
for 1 month. For more information, please visit About Druml Group: Founded in 1993, Druml Group is a West Coast-based consulting firm that specializes
in providing business, financial, risk management, insurance, and bonding services
to the construction industry. Comprised of former owners, managers, and CFOs of
construction firms, the company is uniquely qualified to recognize business and *Offer applies to all new users registering between now and May 1, 2005. Minor
shipping and handling charge may apply upon successful collection. Web Site = http://www.drumlgroup.com/collect_services.asp Contact Details = David Mahler
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