First Reliance Holdings Increases Revenue Using Debt Collection Solution from Latitude Software
April 27 2011 - 10:00AM
Business Wire
First Reliance Holdings has reported increased liquidation rates
as a result of deploying the debt collection solution from Latitude
Software, an Interactive Intelligence (Nasdaq: ININ) company.
“Latitude has given us the tools we needed to better coach and
automatically ‘push’ the right account information to agents for
improved liquidation rates, which has resulted in a 15 percent
monthly revenue increase,” said First Reliance Holdings senior
managing member and founder, Joseph Thompson.
First Reliance, a debt purchasing company, replaced an existing
accounts receivable management product with Latitude Center, a
software suite designed to streamline and manage the entire
collection process, as well as track collection agent goals and
productivity. Latitude Center supports the company’s more than 75
collection agents who are located at its headquarters in Amherst,
N.Y.
First Reliance selected Latitude Center after an in-depth review
of multiple competitive products.
“Many products excel in one area, but not in another,” Thompson
said. “For example, one product might be great for debt collection,
but horrible for reporting. Latitude Center had the most
comprehensive feature-set and proved to be the easiest to use.
Since deployment, Latitude Center has met or exceeded our goals for
increasing liquidation rates, improving agent accountability, and
enhancing portfolio performance analysis.”
First Reliance is also using Latitude Agency Manager to manage
data flow to outsourcing partners; Latitude Portfolio Manager to
manage purchased debt; and Latitude Exchange to develop data import
and export jobs.
The company recently purchased Latitude Workflow, which it will
use to assist in the automation and planning of account collection
strategies, and moving debt when desired metrics have been
achieved.
“The Latitude solution has given us ease-of-use, maximum
interoperability, and flexible customization options,” Thompson
said. “Plus, the company’s been incredibly responsive to our needs.
It’s no wonder Latitude is so well-respected in this industry.”
About First Reliance Holdings
First Reliance Holdings is a debt purchasing company that
provides full service support from beginning to end. The company
purchases several different types of debts, including credit and
private label cards, payday loans, commercial collections, and auto
deficiencies. First Reliance has a large network of collection
agencies and attorneys that service portions of its debt portfolios
and also provides a consulting service that covers debt purchasing
management strategies. With a great support staff, the company is
able to service a wide array of needs for all parties involved in a
purchase or sale. For more information, call 877.495.8938, email
info@frholdings.com, or visit the company’s website at
www.frholdings.com/home.html.
About Latitude Software
Latitude Software, an Interactive Intelligence company, provides
debt collection software and services. Latitude offers hosted and
on-premise solutions that are easy to use and include comprehensive
functionality for faster, more effective debt collection and
portfolio recovery. The Latitude software suite is built using the
latest Microsoft .NET development tools and Microsoft SQL server
database technologies. Latitude was founded in 1997 and serves more
than 200 companies nationwide. Latitude is headquartered in
Jacksonville, Florida and can be reached at 866.396.2599,
sales@debtsoftware.com, or on the Net at www.debtsoftware.com.
About Interactive Intelligence
Interactive Intelligence Inc. (Nasdaq: ININ) is a global
provider of unified business communications solutions for contact
center automation, enterprise IP telephony, and business process
automation. The company’s solutions can be deployed via an
on-premise or hosted model. Interactive Intelligence was founded in
1994 and has more than 4,000 customers worldwide. Interactive
Intelligence is among Software Magazine’s 2010 Top 500 Global
Software and Services Suppliers, and Forbes Magazine’s 2010 Best
Small Companies in America. The company is also positioned in the
leaders’ quadrant of the Gartner Magic Quadrant for Contact Center
Infrastructure, Worldwide report (Feb. 22, 2010). Interactive
Intelligence employs more than 800 people and is headquartered in
Indianapolis, Indiana. It has 19 offices throughout North America,
Latin America, Europe, Middle East, Africa and Asia Pacific.
Interactive Intelligence can be reached at +1 317.872.3000 or
info@inin.com; on the Net: www.inin.com.
This release may contain certain forward-looking statements that
involve a number of risks and uncertainties. Factors that could
cause actual results to differ materially are described in the
company's SEC filings.
Interactive Intelligence Inc. is the owner of the marks
INTERACTIVE INTELLIGENCE, its associated LOGO and numerous other
marks. All other trademarks mentioned in this document are the
property of their respective owners.
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