DUBLIN, August 21, 2014 /PRNewswire/ --
Insolvency industry reports astonishing speed of new technology application launch
Aquarium Software has reacted with incredible speed to a recent development in the Irish personal insolvency sector by unveiling integration with the Regulator in a matter of days. The Aquarium technology platform will now allow users to seamlessly import personal insolvency cases into their case management system at the click of a mouse, saving practitioners (PIPs) a massive amount of time and money, and allowing them to focus on dealing with customers' queries, and generating new business.
(Logo: http://photos.prnewswire.com/prnh/20140821/702827-a )
(Photo: http://photos.prnewswire.com/prnh/20140821/702827-b )
Just one week after The Insolvency Service of Ireland (ISI) released version 1.8 which enabled Personal Insolvency Practitioners (PIPs) to securely export case details for use in 'Third Party Systems', Aquarium Software had developed their import procedure and were busily testing the process with beta users, clearly demonstrating the enormous flexibility and credibility of the Aquarium product.
"Practitioners simply don't have the time to dual input cases into both the ISI and their chosen case management system. They need access to the information straight away so that they can get on with their job. We understood this and recognised that the Aquarium software was the key to PIPs making the most of this development in the ISIs system, so we got to work on it immediately," explained Ed Shropshire, Managing Director of Aquarium Software, and Chair of the Irish Insolvency Software Suppliers Association (ISSA).
"PIPs are having to deal with an ever increasing number of cases and it is vital that they are able to manage them all effectively and promptly. The greater level of access granted by ISI is fantastic news for the industry, however accessing data in this way is only the first step and we look forward to further integration developments. Without Aquarium's software there is a real danger that processing the files could create a bottleneck and slow PIPs down, thanks to this new integration by Aquarium, this is now less of an issue," said Tara Cheevers, Personal Insolvency Practitioner of Aco Financial & Business Solutions Ltd.
Latest Central Bank figures show over 130,000 (17%) of mortgages were in arrears, of which over 93,000 (12%) were in arrears of more than 90 days. The insolvency sector in Ireland is going through a period of rapid development as a growing number of people find themselves facing difficult financial situations.
"The overriding aim for us as PIPs is to find agreeable solutions between debtors and creditors and avoid the heart-breaking situation where people are forced to leave their family homes," explained Tara. "Ultimately, time is vital, and so anything that saves time is a real asset. This development by Aquarium will prove extremely useful, and allow PIPs to process larger numbers of case files with the same levels of effectiveness," she added.
Aquarium's model for software development has been proving itself in the financial and insurance industry for years. The company does not have 'one size fits all' packages, instead they meet with their clients to identify their individual needs and then build a bespoke piece of software around them. "This development for the insolvency sector would not have happened if we did not have an innate understanding of the sector and the needs of our clients," added Mr Shropshire, "whilst this greater level of integration with the ISI is good news for PIPs there is still more that can be done from a technological perspective to remove any future bottlenecks as data gets transferred. This is something here at Aquarium we look forward to addressing on behalf of our increasing client base."
The Aquarium solution is already being used by more than 20 PIPs across the country and many more are expected to take advantage of the unique developments in the near future. Aquarium Software produce systems for the financial and insurance sectors. They have extensive experience in the Irish insolvency market and build packages around each individual client.
For more information call Mark Harrop on +353-(0)1-902-2542 or visit http://www.aquarium-software.com
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