SIMM Associates, a national accounts receivable management firm, has reported reduced operational costs as a result of deploying a debt collection solution from Latitude Software.
“The Latitude software suite’s open architecture has enabled our internal staff to make customizations that adapt to our collection needs,” said SIMM Associates chief operating officer, Jeff Simendinger. “As a result, we’ve been able to eliminate third-party developer fees, which equates to a savings of more than $8,000 per month.”
SIMM has also benefited from Latitude’s user-friendly agent interface. “The Latitude software suite is very collector-friendly, thus helping to speed the collection process,” Simendinger said. “This ease-of-use has also helped us get agents trained faster, with most up and running on the system in less than two weeks.”
SIMM selected the Latitude software suite to replace an existing proprietary debt collection system it had outgrown.
“We went with Latitude because it was built using the latest Microsoft .NET development tools and Microsoft SQL server database technologies, which meant we could modify the system in-house,” Simendinger said. “We were also blown away by the suite’s broad feature-set. This, combined with an incredibly experienced group of industry veterans at the helm of Latitude, made our final decision a no-brainer.”
Today SIMM uses Latitude Software’s Latitude Center, the company’s core product for managing all pre- and post-charge-off accounts and the entire collection workflow process. It also uses Latitude add-on applications to manage collection outsourcing; share data and account information with customers via a secure Web portal; and automate account treatment strategies.
The Latitude software suite supports SIMM’s more than 200 employees at its headquarters in Newark, Delaware.
According to Simendinger, Latitude has continued to benefit the company as it’s grown. “Many of our issuers and debt buyers are also using the Latitude solution, which means we can perform even faster account transfers,” he said. “Because of this, our customers are even more satisfied with our results, and we’ve won more new business. Equally important, Latitude is always developing new features so no matter how much more we grow, we know our needs will always be met.”
Source:http://www.marketwatch.com/story/simm-associates-uses-latitude-software-suite-to-reduce-operational-costs-2011-09-29
