SAS helps SquareTwo Financial recover charged-off assets through better data analysis
CARY, NC (Feb. 23, 2010) – SquareTwo Financial, a leader in the $40 billion asset recovery and management industry, selected SAS, the leader in business analytics software and services, to help make better real-time business decisions. Numerous variables affect the success potential of SquareTwo Financial’s business and a main concern was more effective and efficient data analysis paired with its unique asset recovery model to recover charged-off assets.
“Our rich repository of data and industry-leading analytic modeling is one of our strongest competitive advantages, and we need the ability to run very sophisticated models that are dynamic and scalable,” said L. Heath Sampson, Chief Financial Officer at SquareTwo Financial. “SAS is a leader in providing the solutions that help our talented analysts spend less time coding and more time testing and supporting business decisions.”
SquareTwo Financial plans to run SAS predictive technologies, SAS® Enterprise Miner TM and SAS® Forecast Server, in a powerful grid environment to accelerate charged-off debt from red to black. Since the firm’s financial services business is data-driven, SquareTwo Financial can gain a significant advantage by using powerful analytics to turn internal and external data into accurate business information in real time.
“Although we will save multiple full-time employee hours because we can model better and faster, the real monetary benefit comes because we can make better business decisions on the revenue, which we expect to be in the millions,” said Sampson. “SquareTwo Financial believes all assets deserve a second chance, and with SAS in our arsenal and an innovative approach to recovery, our goal is to bring our customers’ assets back to black.”
SAS Enterprise Miner streamlines the data mining process to create highly accurate predictive and descriptive models based on analysis of vast amounts of data from across the enterprise. SAS Forecast Server generates large quantities of high-quality forecasts quickly and automatically, allowing organizations to plan more effectively for the future.
“With SAS, SquareTwo Financial will be able to discover the diamonds in the data that will help them continue to make the best possible business decisions,” said David M. Wallace, Global Financial Services Marketing Manager at SAS. “SquareTwo Financial’s staff can now accelerate asset recoveries with advanced analytical modeling and forecasting solutions from SAS.”
SquareTwo Financial employs a proven process-oriented approach to asset recovery, and highly sophisticated, technology-driven asset modeling and pricing. This allows the company to provide fast, accurate bids to customers, and a high probability portfolio recovery rate. Partners enjoy a well-structured relationship with the company, which provides the technology and tools to help them thrive.
“SquareTwo Financial provides a service that is more important to banks, health care organizations and corporations now than ever before,” said Wallace. “From its innovative, partner-driven business model, to its industry-leading focus on analytics and data modeling, SquareTwo Financial is a leader in the financial services industry. It is our pleasure to work with clients like SquareTwo Financial who share our commitment to sophisticated data analysis.”
About SquareTwo Financial
SquareTwo Financial is a leader in the $40 billion asset recovery and management industry. Through its award-winning technology and unique Partners Network, SquareTwo Financial creates a more effective way for companies and consumers to resolve their debt commitments. FORTUNE 500® companies in the health care, automotive, banking and credit card industries trust SquareTwo Financial to manage their debt portfolios. The company’s national network of legal partners is dedicated to treating consumers fairly and ethically. SquareTwo Financial is based in Denver. Visit www.squaretwofinancial.com for more information.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 45,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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