First Financial Asset Management (FFAM) has realized savings of more than $250,000 per year by deploying the debt collection solution from Latitude Software, an Interactive Intelligence Company (Nasdaq: ININ).
“Latitude software’s open architecture and multitude of pre-built custom interfaces allowed us to quickly and easily integrate it with our back-office accounting and IT systems, resulting in reduced labor costs. implementation and programming,” said FFAM’s chief investment strategist and EVP. , Matthew Maloney. “Combined with cost-effective Latitude licenses and efficiencies in our accounting, IT, and customer service departments, we’ve saved more than $250,000 per year since rolling out the software in 2004.”
FFAM, an accounts receivable management and debt buying company, replaced a legacy debt collection product with Latitude Center, a software suite designed to streamline and manage the entire collection and portfolio management process, as well as to track collection agent goals and productivity.
Latitude Center supports more than 300 FFAM employees, including collections agents and debt portfolio managers located at company headquarters in Atlanta, Georgia, and offices in Phoenix, Arizona, and West Palm Beach, Florida.
FFAM selected Latitude Center after reviewing competing products from some of the most recognized software vendors in the industry.
“Latitude software has proven to be the most scalable to keep pace with our rapid growth and has provided us with the most flexible architecture,” Maloney said. “We can customize virtually every aspect of the product, from views and reports to data and processes. Simply put, Latitude Center has met all of our needs, both on the collection agency side and on the debt buying side of our business. »
FFAM also uses Latitude Agency Manager to manage data flow to outsourcing partners; Latitude Portfolio Manager to manage billions of dollars of purchased debt held by its debt purchasing arm; Latitude Workflow to assist in automating and planning account collection strategies and moving debt when desired actions have been achieved; and Latitude Exchange to develop data import and export tasks.
“Latitude is constantly improving its products and making sure we have the latest features,” Maloney said. “This customer focus, combined with a decade of experience developing essential solutions for the collection industry, has made Latitude an integral and valued part of our business.”
First Financial Asset Management Inc. (FFAM), part of the First Financial group of companies, is an accounts receivable management and debt purchase company that provides strategic outsourcing and portfolio acquisition services. FFAM was founded in 2002 and is headquartered in Atlanta, Georgia. It employs more than 300 people serving more than 100 clients nationwide, including Fortune 500 and 1000 companies.
Latitude Software, an interactive intelligence company, provides debt collection software and services. Latitude offers easy-to-use, fully-featured hosted and on-premises solutions for faster, more efficient 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.
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, which can be deployed through an on-premises or hosted model, include specific vertical applications for insurance and collections. Interactive Intelligence was founded in 1994 and has over 4,000 customers worldwide. The company was named one of Software Magazine’s 500 Global Software and Services Providers in 2010 and one of Forbes Magazine’s Best Small American Companies in 2010. The company employs approximately 900 people and is headquartered in Indianapolis, Indiana. It has 19 offices in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.