Rent-to-own News - New "invisible asset management" products could help RTO industry reduce collections

Collecting has always been the obvious, though arguably less enjoyable dynamic of renting, taking up as much as 16 percent of a rental operation's time and earning variable degrees of results.

Today, new APRO Associate member IContain says it will transform the business of collections with it's new "invisible asset management" line of products -- systems that combine the latest advances in radio, cellular, and satellite technology to provide an accurate tracking and electronic interrupt system aimed at reducing hassles and increasing payments.

"With credit becoming less and less available for many consumers and with the strong growth of the Rent-To-Own category, we saw an opportunity to help consumers get the products they need by helping Rent-To-Own companies be more confident in their ability to get paid on time," said IContain founder and president, Todd Kleperis. "If I can drive a faster return to you on your money, you can decrease your collection costs and increase profitability."

The company's rent-to-own targeted product, ICInside, was designed as an anti-theft, electronic interrupt product to turn off electronics based on payment, eliminating the need for collection calls  and chasing delinquent customers, Kleperis said.

The ICInside product device is a four inch by three inch box that attaches easily to electronics appliances and other merchandise and can be tracked and located online through a computer or Internet capable cell phone requiring no additional software.

Additionally, a remote control device -- which can control 20 items at a time through security key access -- can shut down electronic merchandise based on payment history within 100 feet based. Additionally, the system will also alert the rent-to-own operator when a device has been removed or tampered with.

"IContain products will increase the efficiency of potential collections efforts by remotely monitoring and managing any piece of equipment or electrical apparatus," Kleperis said.

IContain has already secured beta test trials with a handful of top-tier RTO companies around the globe:   

Kleperis, whose previous company built custom tracking applications for law enforcement operations including the Los Angeles Police Department, U.S. Customs and DEA, said the product devices will start at around $45 and the remote control device will be priced between $70-$80 when officially released in March.

Both TRIB Group and RentDirect Nationwide buying groups has expressed great interest in IContain and Kleperis will introduce the company and its product line to rent-to-own dealers at both group's buying shows next month.

"The reality is, if you're falling behind on payments for your refrigerator or big screen you're going to be far more likely to get up-to-date on your payment if your refrigerator gets shut off than you are if you get a letter in the mail reminding you that your payment is past due,"  Kleperis said. "It's a matter of efficiency."

For more information log onto the IContain Web site at http://www.i-contain.com/IContain.htm of contact Todd Kleperis at 208/639-9926 US or 208/871-9524 (Technical Support) or by email at toddklep@gmail.com

mevans@rtohq.org