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Rail information services provider RMI recently implemented car hire managed services for the Terminal Railroad Association of St. Louis (TRRA). RMI assumed day-to-day management of the association's car hire settlement process, and began handling advanced reclaim audits and business intelligence reporting.

The advanced reclaim audits have helped TRRA save 15 percent in missing reclaims and decrease the number of counter reclaims against the railroad by 30 percent, RMI said. Through the company's car hire managed services, RMI's car hire business analysts review a railroad's car hire settlements and identify areas of potential discrepancy, such as proper reclaim setup and application, haulage payments, mileage overpayments and claim penalties.

"We needed to look outside for help in managing our unique railroad accounting requirements, especially as many of our senior personnel were nearing retirement age," said TRRA Director of Customer Service Carl Yount in a prepared statement.

Established in 1889, TRRA provides switching services to BNSF Railway Co., CSX Transportation, Norfolk Southern Railway and Union Pacific Railroad, and interchanges daily with Kansas City Southern and Canadian National Railway Co.