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How To Recover Lost Postage

Different ways to recover lost postage from dormant accounts and create visibility across the enterprise. Here are the topics that will be covered: 1. What is dormant postage? 2. Why do funds get lost? 3. How do we get our information? 4. Where does the money go? 5. How much money is out there? 6. How to search for your money? 7. What can be done to avoid this in the future? 8. How can Postal Advocate help? 9. What are other areas of postage and equipment savings? 10. Summary

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Name (18pt)
Title (14pt)
How to Recover Lost Postage
Adam Lewenberg
President
Adam.lewenberg@postaladvocate.com 888-977-MAIL X 501
Meeting Instructions
• All lines are on mute until the end of the meeting when they
will be opened up for questions.
• Type in questions into the chat box as they come up and we
will do our best to answer them.
• If you have issues hearing the webinar, make sure you have
called into the meeting vs. relying on internet audio.
1.781.666.2350 meeting number: 813-677-689, then press #.
• We will be sending a copy of the presentation out after the
meeting.
• If you have any issues during the meeting contact Doris Tam
at doris.tam@postaladvocate.com and she can assist and or
send you a copy of the slides to follow along.
July 13, 2015 2
Adam Lewenberg - Background and Experience
• President of Postal Advocate Inc.
– The only mail audit and recovery firm in the US
– Manage a portfolio of 44,000 pieces of mailing equipment for the largest
US companies.
– Has recovered millions in lost funds from dormant accounts.
– Speak and teach nationally on mail savings and industry trends.
• Vice Co Chair - Boston Postal Customer Council and Mail Systems
Management Association. CMDSS and MDC Certifications.
• Featured Writer for Mailing Systems Technology Magazine.
• Worked for one of the largest mailing vendors for over 17 years
– Director of National Sales for presort, tabletop inserters, addressing
hardware/software and green offerings.
– Was one of the top 5 account managers nationally working with some of
the nation’s top accounts.
July 13, 2015 3
Overview
1. What is dormant postage?
2. Why do funds get lost?
3. How did we get our information?
4. Where does the money go?
5. How much money is out there?
6. How to search for your money?
7. What can be done to avoid this in the future?
8. How can Postal Advocate help?
9. What are other areas of postage and equipment savings?
10.Summary
July 13, 2015 4
What is Dormant Postage?
• Postage funds that have not been
used in at least a year that are most
likely forgotten.
• Money is typically found in:
– Postage meter funding accounts
– On the postage meter
– In unused USPS® permits
– At the states unclaimed property offices
July 13, 2015 5
Why do funds get lost?
Top Reasons:
• Offices closures, mergers, acquisitions, or returned meters.
• Meter vendor changes.
• The money is expensed once sent in for postage.
• The advance account is used when funds sit idle in the prepaid (or vice
versa).
• No central visibility to funds – fragmented control
• Account owners may lack mailing expertise.
• Permits are forgotten and typically fragmented. Example:
– Accounts Receivable - Business Reply Account
– Marketing - Standard Mail permits at different Post Offices based on
where mailing takes place.
– Field Offices – Each with own Business Reply or Postage Due
accounts.
July 13, 2015 6
Ad

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How To Recover Lost Postage

  • 1. Name (18pt) Title (14pt) How to Recover Lost Postage Adam Lewenberg President Adam.lewenberg@postaladvocate.com 888-977-MAIL X 501
  • 2. Meeting Instructions • All lines are on mute until the end of the meeting when they will be opened up for questions. • Type in questions into the chat box as they come up and we will do our best to answer them. • If you have issues hearing the webinar, make sure you have called into the meeting vs. relying on internet audio. 1.781.666.2350 meeting number: 813-677-689, then press #. • We will be sending a copy of the presentation out after the meeting. • If you have any issues during the meeting contact Doris Tam at doris.tam@postaladvocate.com and she can assist and or send you a copy of the slides to follow along. July 13, 2015 2
  • 3. Adam Lewenberg - Background and Experience • President of Postal Advocate Inc. – The only mail audit and recovery firm in the US – Manage a portfolio of 44,000 pieces of mailing equipment for the largest US companies. – Has recovered millions in lost funds from dormant accounts. – Speak and teach nationally on mail savings and industry trends. • Vice Co Chair - Boston Postal Customer Council and Mail Systems Management Association. CMDSS and MDC Certifications. • Featured Writer for Mailing Systems Technology Magazine. • Worked for one of the largest mailing vendors for over 17 years – Director of National Sales for presort, tabletop inserters, addressing hardware/software and green offerings. – Was one of the top 5 account managers nationally working with some of the nation’s top accounts. July 13, 2015 3
  • 4. Overview 1. What is dormant postage? 2. Why do funds get lost? 3. How did we get our information? 4. Where does the money go? 5. How much money is out there? 6. How to search for your money? 7. What can be done to avoid this in the future? 8. How can Postal Advocate help? 9. What are other areas of postage and equipment savings? 10.Summary July 13, 2015 4
  • 5. What is Dormant Postage? • Postage funds that have not been used in at least a year that are most likely forgotten. • Money is typically found in: – Postage meter funding accounts – On the postage meter – In unused USPS® permits – At the states unclaimed property offices July 13, 2015 5
  • 6. Why do funds get lost? Top Reasons: • Offices closures, mergers, acquisitions, or returned meters. • Meter vendor changes. • The money is expensed once sent in for postage. • The advance account is used when funds sit idle in the prepaid (or vice versa). • No central visibility to funds – fragmented control • Account owners may lack mailing expertise. • Permits are forgotten and typically fragmented. Example: – Accounts Receivable - Business Reply Account – Marketing - Standard Mail permits at different Post Offices based on where mailing takes place. – Field Offices – Each with own Business Reply or Postage Due accounts. July 13, 2015 6
  • 7. Our Research • Tried to figure out what happened to lost funds. • Found 18,000 lost Pitney Bowes transactions turned over to 15 states as unclaimed property – Nothing from USPS or other vendors. • Did multiple Freedom of Information Act requests to the USPS to get information. • Had multiple meetings with different USPS account managers and management with no good answers on how to get access to the information. • Wrote the Jan 14 cover article for Mailing Systems Technology exposing the issue “Has the Post Service been holding millions of mailer’s dollars?” • The article prompted the USPS Inspector General to do a research project on Dormant Advance Deposit Permit Accounts. They acknowledged that funds are transferred as income to the USPS. USPS management did not want to make changes. • Wrote the Jan 15 Cover article for Mailing Systems Technology with the findings of the report. • Have had subsequent meetings with the Inspector General’s office where they are researching specific accounts to validate the issues. July 13, 2015 7
  • 8. Where does the money go? Meter Vendors (From our research) • Neopost, Hasler and FP - USPS • Pitney Bowes – Unclaimed Funds Offices throughout US –After they have held the funds for 2-5 years based on that states’ requirements. USPS Permits • Stays with USPS – After 2 years of inactivity they will send a letter. – If you do not retrieve your funds in 60 days of the notice, they transfer to a different GL account and consider it income. – No future notifications will be sent – Money can be redeemed with customer proof of account. July 13, 2015 8
  • 9. How much money is out there? • US Postage Meters - 27% have been turned in since 2008 (USPS Meter Populations by Year) – Feb 08 = 1,513,455 Meters – Feb 15 = 1,104,144 Meters • In 15 states we found 18,000 funds turned over to the states as unclaimed property with Pitney Bowes as the holder. Estimated value $4.9 million. With all states, the value would be over $15 million. • During the Fiscal Year 2012 and 2013 the USPS claimed “$15.6 million of customers’ unclaimed dormant account balances as income to the Postal Service during the same timeframe” FT-MA-15-001 July 13, 2015 9 Entity # of Lost Funds Amount Utility 3 $202,462 Bank 1 $140,000 Bank 30 $98,689 Cable Provider 67 $89,919 Communications 20 $89,403 Bank 1 $83,675 Investments 2 $72,491 Transportation 10 $56,950 Transportation 49 $53,384 Insurance 33 $47,262 $934,235 Top 10 Postal Advocate Lost Postage Recoveries These are transactions since 2013 with the majority still residing with the meter vendors.Estimated Value of Lost Funds = $108,000,000 • Postage Meter Funds = $30,000,000 • USPS Permit Accounts = $78,000,000
  • 10. How to search for your money? – Postage Meters – Find account numbers of your current and past meters. – Enter these account numbers online on the vendor’s website to see if any data is available. – Contact your meter vendor to validate funds available. – Fill out meter refund forms from the vendors. – Check the unclaimed funds websites to see if funds were turned in. (Pitney Bowes Only) • Tips for working with the states: • Check the states where the meter was returned. • Try multiple naming conventions. • Make sure to have proof of address and business name and in some cases vendor relationships. • Submit claims through the states websites. • Keep detailed records for follow up. July 13, 2015 10
  • 11. How to search for your money? – Permits – Build a listing of current and past permit numbers. This can be done by: • Searching accounts payable records for where their was past expenses. • Working with your USPS Account Manager requesting lists of permits. – Enter any permit accounts into the USPS Business Gateway to see what details can be found. – Reach out to the local Post Masters of the closed permits to see what details they have and if they can validate balances. – Fill out PS Form 3533 – Application for Refund of Fees, Products and Withdrawal of Customer Accounts form. July 13, 2015 11
  • 12. What can be done to avoid this in the future? • Get reports from your vendors that list: – Account Numbers (Install, Lease, Prepaid and Advance Postage) – Lease Information – Rate, Term, End of Lease, Items covered – Meter rentals and maintenance agreements. – Model, serial number and description of every item. • Enter your account numbers on the vendor websites. • Monitor your inventory, invoices and postage balances online. • Find all active locations with equipment. • Centralize account payment for equipment and postage. • Enter all USPS permit accounts on the Business Gateway. • Set up a schedule for continual review. July 13, 2015 12
  • 13. How can Postal Advocate help? • We offer a risk-free savings analysis at no charge • We work for you and have no vendor affiliations. • We have helped our clients save and recover millions in fees, overcharges and lost postage. • We are averaging 52% (Range 37-92%) equipment savings for the largest companies in the US. This totals over $15 million since 2013. • We have over 200 years of mailing vendor experience on our team and know every way to save money around this spend. • We manage your inventory and bills while giving you a complete web based dashboard. • We don’t charge for our services and only share in a small piece of any documented savings or recovery. July 13, 2015 13
  • 14. What are other areas of postage and equipment savings? • Mail Equipment Savings – 52% By rightsizing and proactive fleet management. • Eliminate Vendor Fees – We find companies spending tens of thousands on mailing charges that can be avoided. • Recover Vendor Overcharges – Are you getting the correct rates for only the needed equipment? • Web Based Inventory Management – Providing a dashboard of all equipment and postage expenses. – Single place for all mail spends across enterprise. – Provides visibility to postage savings opportunities. July 13, 2015 14
  • 15. Summary • There are huge amounts of lost postage available and the levels are increasing. • Postage gets lost due to fragmented processes in many organizations. • The money can be found and recovered if you are willing to put in the work. • This can be avoided if you set up the right model for visibility and oversight. • Postal Advocate can help you recover these funds and to avoid this from happening in the future. July 13, 2015 15
  • 16. Adam Lewenberg President Postal Advocate 888-977-MAIL X 501 Adam.lewenberg@postaladvocate.com Questions? July 13, 2015 16