NEW YORK – Performance Engineering PE™ 1.0, a novel proprietary product designed and constructed to add strong analytics methods and systems to portfolio management and performance in the collections industry was unveiled today by IntelliRisk Management Corporation (IRMC), a premier provider of customer management solutions specializing in collections, accounts receivable management, and customer retention services. IRMC has applied for a patent for the new offering with the Patent and Trademark Office in Washington, DC. In the patent application, the invention is described as providing “Performance enhancement methods and systems for designing and implementing collection agency strategies.”
The innovative product, Performance Engineering PE™ 1.0, brings considerable power and performance enhancements to the IRMC client base. “The science, analytics and business methodologies we have developed to maximize portfolio performance for our client portfolios are enormous,” said Sarah Davies, EVP and Chief Analytics Officer of IRMC.
“For the first time, the collections industry is getting the kind of upgrade it deserves in terms of the sophisticated application of portfolio analysis. We think our proprietary technology is a winning part of our overall performance engineering business strategy,” added Davies.
Performance Engineering PE™ 1.0 is already being applied across the company and with many of the existing client portfolios currently under contract. The release of version 2.0 will be by the end of the year, and will include even more robust applications to benefit portfolio performance and increase customer satisfaction.
“Performance Engineering is just one tool in our arsenal of overall performance engineering enhancements,” said Vikas Kapoor, President and CEO of IRMC. “When Performance Engineering PE™ 1.0 is applied, along with our multi-million dollar upgrade in technology, expanded global footprint and our formula for the dynamic allocation of work, IRMC has a large advantage over our competitors. All of these investments take time, but we are proud of the progress to date.”
IRMC employs state-of-the-art analytics and information to bring operations optimization and enterprise-wide performance engineering to all phases of business and operations including work allocation, scoring and segmentation, pricing, location advantages and reporting.
“Our approach to the business is founded on a strategy of proactive dynamic optimization,” continued Davies. “This model is designed to continually evaluate portfolio performance using an analytic framework to ensure that IRMC is effectively applying all resources at the right time to achieve the best result for our clients.”
IRMC has also made enormous capital investments in technology to ensure superior performance across its global network of call centers. This includes investments in dialer utilization, agent utilization, performance metrics and the introduction of new technologies, both proprietary and industry standard, to ensure the highest level of performance. At the same time, IRMC invests in new ideas, innovative applications, and novel inventions that benefit its clients and make IRMC a pioneer in collections and customer care technology and strategy.
IRMC provides client solutions through its 6,000 employees in North America, Europe and Asia. With an experienced management team and top-tier investors, including Goldman Sachs, Wells Fargo Foothill, and Harvest Partners, IRMC is a growing, mid-cap company with more than $300 million in revenue servicing more than 100 key relationships globally.
The IRMC family of companies are united in a corporate vision and mission, while maintaining unique company names, including: Allied Interstate and First Contact in the United States; CBCL in Canada; and Legal & Trade Collections, Legal & Trade Financial Services, Reachflow and Revenues Management Services in the United Kingdom.
