SIMM Associates Uses Latitude Software Suite to Reduce Operational Costs

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, an Interactive Intelligence Group Inc. company.

“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.”

SIMM Associates Inc. is a nationally recognized collection firm specializing in delinquent accounts receivable solutions. SIMM’s handles bank and retail credit card, auto finance, private label, commercial, government loans, consumer loans, student loans, deceased and probate loans, and sub-prime debt recovery. SIMM Associates senior management staff has a combined 86 years of collection experience in the credit and collection industry. SIMM is a privately held company that has provided accounts receivable management services to creditors since 1991. It is headquartered in Newark, Delaware and employs more than 200 people.

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.

Interactive Intelligence Group Inc. 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 via an on-premise or hosted model, include vertical-specific applications for insurance and collections. Interactive Intelligence was founded in 1994 and has more than 4,000 customers worldwide. The company is among Software Magazine’s 2010 Top 500 Global Software and Services Suppliers, and Forbes Magazine’s 2010 Best Small Companies in America. It employs approximately 1,000 people and is headquartered in Indianapolis, Indiana. The company has offices throughout North America, Latin America, Europe, Middle East, Africa and Asia Pacific.