MONTREAL — In an industry segment where consumers sometimes stop payments all together, subprime service provider iMetrik Solutions has introduced something that could help asset holders reduce liabilities.

The company announced its new "iMetrik-collect" Web-based software that is designed to help auto finance companies and buy-here, pay-here dealerships increase payments and lower remarketing costs through an enhanced tracking system.

"Collection managers are challenged to reduce operating costs, maximize efficiencies and minimize charge-offs," said Guy Chevrette, chief executive officer of iMetrik Solutions.

"iMetrik-collect helps remove the complexity by providing a single interface to help deliver the latest tools and technology to manage the collection and recovery process, ultimately resulting in better business results for lenders, borrowers and service partners," he remarked.

Basically, the company's collections software offers lenders an enhanced user interface with improved grouping and scheduling views, as well as data integration capabilities that allow for more information at the lender's disposal, officials noted.

Additionally, the new system features network registration data to ensure a connection is stable with the vehicle, eliminating the need to send daily locate commands that can be time consuming to execute, according to the company.

More system features include a "power-loss alert" which is designed to serve as a critical alarm when a power supply is suddenly removed by tampering with the device, something the company said is an early indicator of collection risk.

For more information, visit www.imetrik.com.