Business Challenge:
To be successful, a company must first understand the core value they provide to their customers. The company must then marshal people, design processes, and (usually) implement technology to bring that value to the market. A winning business is one that strikes the right balance between its people, processes and technology to deliver its core value to the marketplace.

Empowered Applications also automates key parts of a company's business process that create a competitive advantage, thereby greatly multiplying the leverage achieved.

We focus on the following areas:

• Customer Relationship Management (CRM)
• Professional Employee Organization (PEO) Management
• Collections Management
• Personal Financial/Debt Management Services

Customer Relationship Management

Customer Relationship Management (CRM) is an umbrella term for business applications that focus on customer and prospect databases.  They fall into a number of areas:

·         Sales Cycle/Sales Force Automation – including Opportunity/Contact Management, Sales Pipeline Forecasting/Management…

·         Marketing Automation – including Campaign Management, Lead Management, Product Tracking…

·         Customer Support Automation – including Customer Support Tracking, Knowledge Bases, Self Help systems…

·         eCRM – including Customer Ordering Systems, Configuration Systems, Self Help Systems, Customer Collaboration Systems…

Many people put the eCRM systems into the Sales, Marketing and Support buckets.  Others try to combine the areas into a single term – Lifetime Customer Information Systems.  Regardless of how people try to classify CRM systems, CRM systems tend to have a prospect/customer database, efficient ways of entering and accessing the database and some sort of business process automation. 

CRM Systems tend to vary widely depending on their intended use, both by design and through customization.  Customization is a big issue for purchasers of CRM systems often being 60% of the total cost.  The result is that many companies are moving away from monolithic CRM Systems and towards focused, scalable CRM systems.  EMPOWERD Applications has built a Business Component Library that allows it to build Exactly what you want or need, faster, with higher quality at a competitive price. 

Price is often lower than the software costs of competitors before customization, and the value is always higher because it is exactly what you need!

Collections

Debt Collection has become big business as the delinquent consumer debt placed for collection has doubled from $73 billion in 1990 to $135 billion in 2000.  With 6500 collection agencies and 1600 credit reporting agencies in the U.S., the market is increasingly more competitive and specialized.  Customized collection systems (very similar to custom CRM systems) have become essential to compete in this market.

Empowered Applications delivers products that address major issues and challenges facing debt collections including:

·         High Volume – Making sure nothing “falls thru the cracks” is essential in the collections business. Careful selection of your system and its underlying database will allow you to grow your business by orders of magnitude and make sure nothing will get lost or neglected.

·         Speed – Debt ages quickly.  Profitability of the collections business is dependent on the speed of case acquisition, debtor contact and follow-up.  Automating demand letters, call lists, and to do lists increase the speed of collections.

·         Customized Workflow – Different clients want their cases to be handled differently.  Systems that allow for customized workflow by case type and client increase your ability to meet client desires.  Customized workflow also allows you to go after sub-market specialties that need to be handled is different ways.

·         Labor Costs, Turnover, and Training – Collection Systems must relieve employees from generating documents, contact lists, and managing payments.  Then your people can concentrate on dealing with debtors.  The answer is automation of contacting and collecting processes.  Automation also shortens the learning curve for new employees and ensures that the desired processes are being followed.

·         Client visibility – Clients want to have easy access to the status and progress of each individual collection as well as the total remittances.

·         Remittance Accounting – Clients demand accurate and on time payment remittance reports, and overall performance reports.

 Most Collection systems include at a minimum:

• a database integrated with a document generation system,
• produce collection letters and documents on demand
• accurately maintain cost and payment history, contact history and payoff balances. 

The more sophisticated systems incorporate a workflow manager to expedite each collection through a specific process while automatically generating necessary output such as letters, notices, legal documents reminders and outbound calls at various points in the process.  Furthermore, in the sub market categories of case of outsourcing and specialized law firms, the need for client visibility of each collection as well as summary reporting is necessary.  Many clients become frustrated with collection companies because they cannot easily track performance at a individual collection level.  EMPOWERED Applications’ Collector’s Advantage product does all these things and more.

Financial / Debt Management

[Financial Management has always been a concern of wealthy individuals and they have had many types of advisors to help them meet their obligations, invest for the future and secure a good retirement.  As the wealth of the rest of us has grown and the availability of consumer credit has grown, a need for these financial services has extended to include almost all families.  This is particularly true in this time of economic stagnation where many families have become overextended.  The result has been the emergence of an industry focused on helping families resolve their consumer debt issues, structure their financial affairs and save for the future.] *footnote in separate link

Empowered Applications enables players in this industry to stay competitive by allowing them to clearly express how they will help their clients restructure their financial life  via M.A.P.S. (Mortgage And Pre-qualification Systems)

Our solutions help companies serving this market  address a number of needs that can be automated.  At the front end these include:

·         Prospect Management – Keeping track of prospects and following them through the sales process

·         Loan Qualification – Automatic checking of credit bureaus for credit worthiness

·         Loan Pruning – The automatic selection of loan products depending on the customer’s personal situation

·         Customized Sales Presentations (M.A.P.S.) – Taking the information from potential loan products and using it to create a sales presentation of a potential new debt stack and financial plan.

At the back end, Financial and Debt Management firms often help their clients manage their debt.  This includes:

·         Debt Stack Maintenance – Keeping track of the clients debt obligations and the order in which they should be paid.

·         Sweeping Client Accounts – Automatically transferring funds out of client accounts to pay their bills.

·         Bill Paying – Automatically paying customers bills.

·         Keeping Clients Informed – Providing clients with summaries of bills paid and the status of each of their debt accounts.

Empowered Applications has two software programs that help companies providing services in these markets:

Financial Advantage (FA) – Financial Advantage automates the front end of the process.  It is a mortgage pre-qualification and sales collateral system (MAPS).  The sales agent enters data about the prospect and then the system determines whether an applicant is qualified for a mortgage by pulling the applicant’s credit, finds all loan products for which the applicant qualifies, and ranks them in an order best suited for the applicant.  Upon selecting a loan, the system creates a sales presentation that shows how the loan will improve the applicant’s personal financial situation.

Debt Management System (DMS) – A debt reduction management system.  The system implements an accelerated debt reduction program for clients by sweeping a fixed amount of funds per pay period from the client’s account and using the funds to payoff the debt stack in an optimal order for the client.