BELLEVUE, Wash., May 2, 2006 (PRIMEZONE) -- Intelligent Results, a pioneer in customer analytics software for financial services companies, today announced it is expanding the number of targeted applications it offers for debt buyers, collection agencies and debt collection units of financial institutions.
Intelligent Results, which works with five of the top 10 banks and leading collections agencies, offers both an integrated analytics and decision management platform called Predigy and Action Applications developed with Predigy. Ten Action Applications are now available which combine analytics, modeling and simulation to generate specific actions to improve the collections process.
Intelligent Results' Action Applications enable companies to determine which actions to take to improve how quickly they collect, while maximizing the amount they collect. The applications are designed to mesh with the technology infrastructure of a wide array of collections organizations. Partners are building connectors to support ease of deployment for use with leading automated correspondence, dialing and web-based collections systems.
Unlike other analytics software, Intelligent Results' software platform can be used by both analytics professionals and line of business managers, which dramatically increases the availability of a scientific approach to decision making throughout an enterprise.
Debt collection and recovery is an increasingly difficult business and debt collections companies face a squeeze on several fronts. The credit quality of the portfolios they work on behalf of financial institutions is diminishing, which means they may collect less. At the same time, costs, such as information technology expenses, are rising.
"By applying analytics to collections, and linking analysis with specific actions to improve collections, we can enhance the performance of a collections company," said Kelly Pennock, chief executive officer of Intelligent Results. "Each application can enable a collections group to make smarter decisions and take immediate action based on those decisions."
Intelligent Result's action applications help collections agencies determine who the most likely prospects are to pay and when to call them; which debtors are more likely to respond to a letter asking for payment; which ones need other treatments; and who to make settlement offers to and for what amount. The Intelligent Results action applications then initiate specific actions - setting up call management, sending out letters, or sending out settlement offers. The link up between analytics and action improves the efficiency and effectiveness of collections efforts and is a feature unique to Intelligent Results.
"It is becoming progressively more important to quickly determine the right level of effort in terms of resource allocation in relation to recovery," said Johnny Hernandez, outsourcing resources manager, Van Ru Credit Corporation. "Anything that can be done to speed the collections process and maintain good client relations is tremendously valuable."
The new Action Applications are: Letter Manager, Credit Bureau Manager, Skip Trace Data Manager, Outsource Manager, Call Saver, Skip Trace Data Saver and Credit Bureau Saver. The Call Manager, Letter Saver, and Settlement Offers action applications were released late last year.
"We're working with Intelligent Results to create an automated call manager application, said Jeff Mains, chief executive officer of Sentinel Development Solutions. "It's clear that many collections customers are looking to their core systems vendors to provide the intelligence behind their actions. With the Sentinel Call Manager, Powered by Intelligent Results, we are doing just that."
About Intelligent Results
Intelligent Results enables companies in the financial services industry to run their businesses more dynamically with a new standard in customer analytics and decision management. The Intelligent Results software platform allows companies to better understand and predict customer behavior and then quickly plan and operationalize targeted strategies. This empowers companies to improve the customer experience, allocate resources more effectively and produce profitable results.
Intelligent Results' approach, platform and applications result from 20 years of work that began in the national labs. Intelligent Results was founded by leading thinkers in predictive analytics with real-world experience at forward-thinking companies such as Amazon.com. As the company has grown, it has added executives and staff with extensive financial services experience. Since the launch of the beta version of Predigy, over two dozen new customers and partners have chosen to work with Intelligent Results. www.intelligentresults.com.
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