DENVER, July 9, 2012 /PRNewswire/ -- IDG's CIO magazine is announcing SquareTwo Financial, a leader in the $100 billion asset recovery and management industry, as a recipient of the 2012 CIO 100. The 25th annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT).
"For 25 years now, the CIO 100 awards have honored the innovative use of technology to deliver genuine business value," said Maryfran Johnson, Editor in Chief of CIO magazine & events. "Our 2012 winners are an outstanding example of the transformative power of IT to drive everything from revenue growth to competitive advantage."
SquareTwo Financial's CIO 100 Award is the result of a successful consolidation to a state-of-the-art single-platform asset management and servicing system known as "eAGLE." In 12 months, SquareTwo Financial's IT team successfully converted more than 7.5 million accounts valued at more than $23 billion to eAGLE, resulting in a 350% increase in system volume to 103 million transactions. The conversion helped drive SquareTwo Financial's record-breaking 2011, including adjusted EBITDA of $266 million.
"It is an honor to be recognized with a CIO 100 Award for the excellence and innovation of our IT organization," said Paul A. Larkins, president and CEO of SquareTwo Financial. "The award pinpoints our significant strides in advancing our technology infrastructure, which directly contributed to our record-breaking financial growth. I know the achievements of our IT team will continue to give our company a competitive edge."
Executives from the winning companies will be recognized at the CIO 100 Symposium & Awards Ceremony, to be held Tuesday evening, Aug. 21st at the Terranea Resort in Rancho Palos Verdes, Calif.About the CIO 100
The recipients of this year's CIO 100 award were selected through a three-step process. First, companies filled out an online application form detailing their innovative IT and business initiatives. Next, a team of judges reviewed the applications in depth, looking for unique practices and substantial results. Finally,CIO
editors reviewed the judges' recommendations and voted on the final 100.
Complete coverage of the 2012 CIO 100 awards will be online at www.cio.com on August 1, 2012 and in the August 1st issue of CIO magazine.About SquareTwo Financial:
SquareTwo Financial is a leader in the $100 billion asset recovery and management industry. Through its award-winning technology and unique Partner Network, SquareTwo Financial creates a more effective way for companies and consumers to resolve their debt commitments. Fortune 500 companies in the health care, 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, Colo. Visit www.squaretwofinancial.com for more information.
About CIO Magazine
CIO produces award-winning content and community resources for information technology executives and leaders thriving and prospering in this fast-paced era of business, as well as creates opportunities for information technology and consumer marketers to reach them. The CIO portfolio includes CIO.com, CIO magazine (launched in 1987), CIO Executive Programs and the CIO Executive Council. CIO properties provide business technology leaders with analysis and insight on information technology trends and a keen understanding of IT's role in achieving business goals. The U.S. edition of the magazine and website are recipients of more than 200 awards to date, including the American Society of Business Publication Editor's Top B-to-B Magazine since 2000 and two Grand Neals from the Jesse H. Neal National Business Journalism Awards. CIO websites and printed publications appear in more than 25 countries, including Australia, Canada, Finland, India and Sweden. CIO Executive Programs—a series of face-to-face conferences including the CIO 100 Awards & Symposium™—provide educational and networking opportunities for pre-qualified corporate and government leaders. The CIO Executive Council is a professional organization of CIOs created to serve as an unbiased and trusted peer advisory group. CIO is published by IDG Enterprise, a subsidiary of International Data Group (IDG), the world's leading media, events, and research company. Company information is available at www.idgenterprise.com.
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SOURCE SquareTwo Financial