Forseva Integrates PredictiveMetrics' Suite of Predictive Scoring Solutions
July 6, 2010
Forseva integrates statistical-based scoring models into its software for the application of risk based collections, credit line management, and portfolio monitoringTinton Falls, NJ -- July 6, 2010 - PredictiveMetrics, Inc. (http://www.predictivemetrics.com) the leading provider of statistical-based predictive scoring and analytical solutions and Forseva (http://www.forseva.com) a provider of award winning sales, credit, and collection software applications announce the integration of PredictiveMetrics' suite of portfolio credit and collection scoring models within its systems. PredictiveMetrics' portfolio credit and collection scoring products predict the specific probability of a current GOOD customer going BAD at some point during the six month period from the date of the score. Each client defines the "BAD" definition used in the model. This timely strategic partnership allows Forseva users to utilize the predictive power of statistical-based portfolio scoring as the basis for developing collection strategies based on risk, order release or repeat transactions with existing customers, portfolio management, and credit line management. "PredictiveMetrics' portfolio scoring models leverage a company's internal accounts receivable data, which is proven to be the most predictive data for portfolio credit and collection management. PredictiveMetrics' statistical-based scoring solutions have helped many leading companies reduce DSO and losses while increasing the efficiency of operations through optimal resource allocation" stated Michael Banasiak, President of PredictiveMetrics. "These models provide superior collection prioritization by knowing the probability of BAD (PBAD) and the dollars at risk based on a model validation of the company's accounts." "We are very excited about the benefits that the PredictiveMetrics and Forseva partnership will deliver to the marketplace. Companies are continually seeking ways to accurately forecast their customers' ability to pay," said Mike Horvath, Forseva CMO. "Combining ForsevaTRM, our award-winning CRM-enabled credit and collections management application, with PredictiveMetrics' statistical scoring models, will enable companies to make more informed sales, credit and collections decisions throughout the quote-to-cash cycle with customers--in a fully automated fashion." Prior to purchase, PredictiveMetrics offers a free retrospective validation analysis to see how well its model predicts future payment performance on the clients' portfolio or a champion / challenger analysis to compare the current model they are using to its model. This analysis shows the model's ability to differentiate future problem payers from future timely payers and quantifies how accurately the model predicts future customer payment behavior. About PredictiveMetrics
Founded in 1995, PredictiveMetrics, Inc. is the leading provider of statistical-based predictive scoring and analytical solutions. Working with customers in an array of industries including Financial Services, Leasing, Manufacturing, Distribution, Energy & Utilities, Shipping, Transportation, Communications, Banking, Debt Collections, Debt Buying and others, PredictiveMetrics' customer focus is to work with clients to create a strategic relationship ensuring their resources are optimally utilized to make automated, knowledge-based, profitable decisions that are proven accurate through statistical validation. PredictiveMetrics utilizes proprietary software and state-of-the-art hardware, designed specifically to conduct vigorous and sophisticated analytics coupled with innovative, advanced statistical techniques. Applying customers' business expertise together with PredictiveMetrics' data, modeling, and resource capabilities allows PredictiveMetrics to provide extremely powerful decision support systems to companies worldwide. PMI is a privately-held corporation that is self-funded through the profits of the company and headquartered in Tinton Falls, NJ. For more information, please visit www.predictivemetrics.com or call 732-530-9303. About Forseva
Our award-winning, software-as-a-service solution, ForsevaTRM , uniquely empowers customers to align sales with credit and collections management resulting in fast, consistent and more intelligent business decisions throughout the quote-to-cash cycle. Key features include real-time business identity/fraud checks, credit decisioning, portfolio risk monitoring, online credit applications w/electronic signatures, predictive scoring, collections prioritization, collections activity management, payment dispute/deduction resolution and enhanced cash forecasting. Includes native support for decision support data from PredictiveMetrics, D&B, Experian, Equifax and Ansonia. Delivered on the #1 cloud computing platform (72,000+ customers) for business applications, Force.com, ForsevaTRM is highly reliable, secure, customizable and affordable with annual subscription fees as low as $300 per year/user. For more information, please visit www.forseva.com. Contact: Eileen O'Hare
Vice President of Marketing
PredictiveMetrics, Inc.
732 530 9303 ext. 101
eohare@predictivemetrics.com
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