Princeton Reorganizes To Focus on Its Business and Consumer Clients.(Princeton eCom)

Princeton eCom, a firm that provides electronic payment and billing services, has adopted a new organizational structure that creates two new divisions: electronic billing solutions and consumer and payment solutions.

"The new structure provides us with a framework to focus our efforts on our two principal lines of business - billing and payments," said Curt Welling, CEO of Princeton. "It will enable us to approach each market aggressively from a sales and product development standpoint and to enhance our product offerings and respond more effectively to customers moving forward."

Mr. Welling said that as a young company, Princeton had grown "horizontally but not vertically."

The reorganization into divisions centered around the company's products and customers and is designed to bring profit and loss discipline to each area of Princeton eCom's business, he said.

GMAC Mortgage is among Princeton eCom's clients, and Mr. Welling told MSN that he believes the mortgage industry may be among the leaders in adopting electronic payment and billing options.

"I would say the mortgage industry has been among the more advanced industries in terms of embracing this," he said.

To date, industry-wide data about how many mortgage borrowers receive or pay their monthly bills electronically has been hard to come by. Mr. Welling said he hopes that an independent organization, such as an industry trade group, will eventually take up this challenge so that more than anecdotal evidence is available.