Treasury Department Building

Financial Innovation & Transformation (FIT)

Centralized Receivables Service (CRS)

Improving agencies' debt collection processes was one of FIT's first initiatives. In close collaboration with the Bureau's Debt Management Services (DMS), FIT developed and promoted a Centralized Receivables Service (CRS) using an experienced private sector provider. FIT was able to create a basic foundation and framework ready for this project and transfer it to DMS for further development.

What problem was FIT seeking to solve?

Every year, individuals and businesses owe government agencies money and each year some of the debt becomes past due (delinquent).

Agencies vary in their ability to collect debts. Across the government, hundreds of program areas are using unique solutions with different business processes.

Many agencies suffer from fragmented, manual, and less-than-optimal receivables management.

How does this solution help?

Using centralized servicing, a civilian federal agency can:

  • offload the end-to-end management of receivables to the Department of Treasury
  • increase the amount of money collected from debtors across the government
  • reallocate debt collection resources in order to focus on the agency's core mission

For the government as a whole, CRS will:

  • deliver cash each year (from improved collections and reduced costs)
  • reduce the number of debts that become delinquent
  • reduce the cost of maintaining multiple systems
  • improve data quality and transparency
  • support the government-wide all-electronic initiative

How to learn more about CRS

DMS is working with a financial agent that has an at-scale service center, a technology platform, and a fully integrated set of tools, including workflow, data storage, a portal for client agencies, document management, credit reporting, skip tracing, and auto-dialing.

For more information, see Centralized Receivables Service (CRS)

Quick References

OMB 16-11, Improving Administrative Functions Through Shared Services

Circular No. A-123 Appendix D, Compliance with the Federal Financial Management Improvement Act of l996

OMB M 13-08, Improving Financial Systems Through Shared Services

OMB M 10-26, Immediate Review of Financial Systems IT Projects

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