iovation Partners with Joseph, Mann & Creed on Debt Collections Solution

iovation, the Device Reputation Authority for the Internet, and Joseph, Mann and Creed (JMC), a leader in accounts receivable management, today announced a partnership that will help online businesses mitigate their risk of fraud, which reduces service charges associated with debt collections.

Under the partnership, JMC will offer iovation’s real-time ReputationManager’ device reputation service to help customers enhance their online fraud detection capabilities by establishing reputations to the devices in their network. By stopping fraudulent orders from reaching the collections process, JMC’s customers are able to reduce additional processing fees that are a result of fraudulent and unrecoverable accounts. It will also increase account recovery rates for unpaid claims.

"Chasing phantom accounts is both cost-prohibitive and counter-productive to the collections process," said Perry Creed, co-founder and partner at JMC. "JMC continues to take proactive steps to protect our customers’ business assets and streamline the accounts receivable process. Bringing iovation’s innovative fraud detection service into the process helps eliminate fraudulent accounts from reaching our office in the first place. This allows JMC staff to spend more time pursuing legitimate accounts and lowers our processing costs. As a result, we are able to pass the savings on to our valued customers."

According to JMC, 55 percent of the delinquent accounts it received from its customers from 2006-2007 were deemed uncollectible. Along with costing the agency more than $130,000 to process to no avail, uncollectible accounts also contributed to increased service fees. With iovation’s device-based fraud management service, which exposes computers and accounts with histories of fraudulent behavior, JMC’s customers are better equipped to reduce fraudulent orders, improve account recovery rates, and lower costs as fraudulent orders are removed from the recovery process.

"iovation’s ReputationManager service identifies computers with a history of fraud and dramatically reduces repeat offenders where fraud is unrecoverable," added Creed. "Because of this, when an account has been screened by iovation, it increases the likelihood that it is recoverable. As a result, JMC can offer our customers more competitive pricing because we know our costs will be lower."

"JMC has earned a solid reputation across multiple industries providing reliable debt collection services that produce highly effective results," said Jon Karl, co-founder and vice president of business development at iovation. "We are extremely excited to partner with a proven leader like JMC, who understands the operational inefficiencies and financial setbacks fraud can have on the collections process. Combining iovation’s device reputation service with JMC’s groundbreaking approach to accounts receivable management provides a cost-effective and efficient solution for JMC’s customers."

About Joseph, Mann & Creed
Joseph, Mann & Creed is one of the leaders in accounts receivable management. JMC’s client-driven philosophy, leading edge technology, and renowned Client Services department makes JMC unique among mid-sized collection firms. Through its client-driven technology, JMC is able to focus on both first and third-party collections. JMC has become the leader in many industries such as Insurance, Media, Internet Transactions, and Technology Advertising, building a reputation of being able to handle all types of receivables, commercial and consumer, with the professionalism necessary to keep the goodwill of the customer and collect outstanding debt. The company also offers market-leading web access to view accounts. Through JMC’s Client Web Access (CWA), clients are able to view all notes and activity on accounts. CWA also allows clients to pull on-demand customizable reports, which can allow for complete auditing. JMC’s standards of excellent work for its clients prove that not all collection agencies are the same. To learn more about JMC, visit www.jmcbiz.com.

About iovation
iovation, headquartered in Portland, Oregon, pioneered the use of device reputation for managing online fraud and abuse. Today, iovation manages the reputations of more than 60 million Internet-enabled devices worldwide, allowing its customers to control online fraud and abuse while benefiting from sharing device reputation intelligence. Processing over 2 million device reputation queries per day, iovation helps customers stop over 10,000 daily fraudulent activities and will perform more than a billion fraud checks in 2008. For more information on iovation, visit www.iovation.com.