Bond Partners buys DebtFlow software

Sawfish Software is installing its debt-management solution DebtFlow in London-based Bond Partners LLP to enable the firm to meet the demand from increased levels of insolvency in the UK.

Insolvency figures published for the third quarter of 2006 show a 55% rise year-on-year.

Bond Partners LLP is installing Sawfish Software's DebtFlow to streamline the processes involved in Individual Voluntary Arrangements (IVAs), and to automate much of the work, enabling administrators to handle higher numbers of cases.

The Personal Debt department of Bond Partners, which has over 25 years' experience as insolvency practitioners, works with individuals and sole traders faced with debt to organise and manage the repayments.

In many cases this involves an IVA, which places a freeze on interest and penalties throughout the period of the arrangement, and creates a realistic schedule of repayments.

Sawfish Software's DebtFlow solution is specifically designed to automate many parts of the debt management process, enabling administrators to handle a higher number of cases.

By capturing all relevant details for each case, advisors are able to deal knowledgeably with each individual account.

Additionally, each stage of the process is mapped out, ensuring full completion of tasks, with reminders for time-dependent operations.

Steve Hull, managing director of Sawfish Software, said: "Bond Partners has witnessed an increased demand for its debt management services, and was seeking a software solution which would automate the admin-intensive elements of the processes.

"By freeing up the firm's qualified administrators at the front end, Bond Partners will be able to increase its number of clients.

"Additionally, with a centralised source of information at the fingertips of the debt-management team, clients can feel confident that whoever is assisting them has sufficient information to be giving them the best advice".

Theodoulus Papanicola, partner of Bond Partners LLP, added: "With the combination of Bond Partners' extensive experience in debt-management, and Sawfish Software's DebtFlow software, I am confident that the department will be able to meet the increased demand for IVAs.

"Sawfish Software is working closely with the Personal Dept department to configure the DebtFlow system to Bond Partners' working practices.

"There is added value to our business by streamlining the debt-management processes.

"Debt management is often stressful for the people involved, and by freeing up our administrators' time and giving them immediate access to all relevant information, clients can be confident that Bond Partners will provide the very best service throughout the period of the arrangement.

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