Boomerang’s 5 Advantages Over In-House Asset Recovery

It is not an uncommon occurrence for a company to approach Boomerang Asset Recovery after having attempted to manage their own in-house unclaimed property recovery efforts.

While their individual motivations for making such a switch can vary, our clients tend to universally cite 5 key advantages that partnering with us makes possible:

1. Our Search is Wider:
   In-house recovery efforts typically focus entirely on the state-held properties that can be found on individual and aggregated state web sites. Boomerang’s own database also possesses these very same state records. However, we extend our reach by also including the updated property listings from cities, counties, bankruptcy courts, many non-escheating state agencies, and other governmental agencies.
2. We Find What You Never Will:
   On-line search engines are severely limited in their capabilities, especially with regards to performing “wildcard” searches. Because they’re designed to match only the exact search name that has been input, any unclaimed property listing that contains a misspelling, abbreviation, or acronym is likely to go undiscovered. Boomerang has overcome these obstacles by heavily investing in a search engine solution that utilizes non-obvious relationship matching, thereby allowing us to see beyond the common data issues that keep a company’s property hidden from them. Our search software also makes it possible to run a separate query against specific addresses, thereby uncovering additional properties that a name-alone strategy might not reveal.
3. Your Resources Get Freed Up:
   Asset recovery is a tedious and time-consuming task that can easily get sidelined by a company’s more pressing priorities. It can quickly become an on-again/off-again endeavor that suffers from the loss of continuity and momentum…while exerting drag on an already-harried staff.Boomerang assumes all of the work involved in a successful recovery, from start to finish. We begin by executing a comprehensive search for a company’s properties, followed by the completion and filing all the associated claim forms and proof-of-ownership documents. Each claim’s progress is then closely monitored as it winds through the various governmental agencies, helping ensure a speedier payout from the agencies holding your assets.
4. We’ll Save You Money:
   Boomerang gets paid a set commission on every unclaimed property we return to our customer, with no other costs or fees associated with the service. Customers realize that they would be hard-pressed to mount their own recovery efforts at that cost. This is truly a risk-free opportunity for a company to generate additional income in the form of recovered unclaimed property, at a time when every dollar coming in is a welcome thing.
5. We’ll Find More Money…Period
   Companies that rely on on-line aggregate websites for their own asset recovery typically find up to 75% less than what can be uncovered by using Boomerang’s advanced search technologies and expansive property database. Depending upon the nature of a company’s recovery activities, this could reflect a sizeable amount of money that an in-house effort is leaving behind…and unclaimed.