Hubbard Systems? Partner-to-Partner Software Reaches $2 bln Mark in Debt Transfers

Birmingham, AL ? Hubbard Systems, a leading provider of debt collections software to law firms, collection agencies, and financial institutions, has announced that $2 billion in debt placements have been transferred over their Partner-To-Partner network. Established in 1996, this ?network of networks? allows law firms and other debt collection organizations to collaborate with geographically distant law firms. Using the Internet, users create a virtual alliance to track and recover delinquent debt. Hubbard Systems serves as a gatekeeper providing access to a secure, password protected Web server configured to store and forward users? files using Partner-To-Partner.

Hubbard Systems? CEO, Gregory E. Jones notes that the system has undergone dramatic growth in usage: ?In 1996, the year Partner-To-Partner was released, it was used to transfer less than $20 million. In 2001 we transferred over $400 million. It took us six years to reach the $1 billion mark. It took only 13 months to reach the $2 billion mark. That is testimony to the value of this service and how quickly and widespread it has caught on. Users quickly see that it is a great productivity enhancing tool.?

Using Partner-To-Partner, law firms establish their own networks of other law firms with whom they electronically share debtor information. The law firms can be located anywhere in the country. The system is an inexpensive, efficient and secure method of transferring data and users have access to the software?s auditing and reporting functionality. Partner-To-Partner users are not required to be licensees of the firm?s debt collections applications software.

Partner-To-Partner will ultimately operate on Microsoft?s .Net™ platform as does Colipso™, the firm?s new collections applications software. When programming is completed, Partner-To-Partner?s use of the XML Internet protocol will afford users even greater collaboration capabilities and access to their legacy data and systems. Although the current version of the file transfer software already provides seamless interfaces to other vendors? collection applications, the XML capability will allow users an even greater level of integration to their existing collections applications, databases, and report generation software. Collection Partner users will continue to use Partner-To-Partner as they do today.

Hubbard Systems
The firm?s applications software manages the debt collections process from start to finish. Its offerings cover the full array of case management, client status, and statistical reporting functions. Colipso™, will be the first and most comprehensive debt collections system built using Microsoft?s .NET architecture. Founded in 1983 and headquartered in Birmingham, AL, Hubbard Systems provides debt collections software solutions to more than 300 clients nationwide. For more information visit www.hubbardsystems.com.