Daily News: July 9, 2012

SquareTwo Financial Receives CIO 100 Award

IDG’s CIO magazine announced that SquareTwo Financial is 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, CA.

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.