Singularity Eases Insolvency Blues

London, 29 June 2010

Business software innovator Singularity is helping ease the insolvency plight of some of the UK's poorest debtors.

A technology tool it has designed for The Insolvency Service is giving hard-pressed small debtors in England and Wales a cheap way to start afresh.

The Insolvency Service, says rollout of its new Debt Relief Orders (DRO) scheme, which uses Singularity's highly automated tailored technology, is a major success.

Singularity, a specialist in business process management (BPM) and case management design, says the trouble-free launch and operation reflects a high-level of shared expertise that was invested in the project.

The Northern Ireland company has 250 staff in offices in Derry, Belfast, New York, London, Singapore and Hyderabad.

Insolvency Service (http://www.insolvency.gov.uk/) and Singularity (http://www.singularity.co.uk/) teams worked closely for nine months to build a flexible, user-friendly computer application that still leaves room for the human touch.

They produced the finished goods on budget and on time.

The Insolvency Service unveiled the DRO scheme on 6 April 2009 and take-up has been rapid. In the first 12 months of operation, 17,475 DROs have been awarded and monthly take-up is approaching 2,000.

The scheme helps the poorest individuals by offering them a fast and cheap way of dealing with their debts. Aimed at people with debts up to £15,000 and just £300 in assets, it gives them the chance of a fresh start after 12 months.

The traditional path to entering bankruptcy, with availability of the debt relief that it provides, is not an option for many low-paid and debt laden individuals, often because they cannot afford the £600 entry fees. The new DRO costs just £90. Graham Horne, Deputy Chief Executive of The Insolvency Service, says: “It's about making services available when the users want them and trying to improve the flexibility of service delivery. It's about cost, efficiency and accessibility. We had a launch deadline that we were determined to meet and the whole team, and I include Singularity in that, worked very hard to ensure we met it.” Singularity has an international client list for its BPM and case management systems. It provides solutions to blue chip companies in financial services, telecommunications, healthcare and many other sectors, as well as to local authorities and government agencies. Padraig Canavan, CEO Singularity, said: “It was a big challenge with a great reward.  Working with IT and policy colleagues in The Insolvency Service, we successfully front-loaded a transformational electronic application that is having an immediate benefit for people who need it. Singularity continues to work with The Insolvency Service on another very extensive BPM process which will radically overhaul the service's electronic workflow processes.”

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Notes To Editors:

The Insolvency Service is an executive agency of the Department for Business, Innovation and Skills (BIS). It deals with insolvency matters in England and Wales and some limited insolvency matters in Scotland.

The law in England and Wales relating to insolvency and bankruptcy is different from that in Scotland and Northern Ireland.

A Bill to set up a Debt Relief scheme in Northern Ireland has been introduced in the Assembly. It is hoped to have the scheme operational by early 2011.

Singularity increases the performance and agility of business processes by rapid implementation of its industry-leading Business Process Management (BPM) products.

BPM eliminates unnecessary steps and reduces manual inputs in a process, increasing the number of activities that can be carried out in parallel. The results are streamlined operational processes with reduced costs, increased throughput capacity and reduced management overhead.

Singularity operated as prime contractor on this project, managing the work of several subcontractors including Equiniti ICS.

For further information:
Email: Olivia.Bushe@Singularity.co.uk: Tel +44 (0) 28 7126 7767
or
Email: Ade.Daramy@insolvency.gsi.gov.uk: Tel.+44 (0)20 7596 6187

About Singularity:

Singularity increases the performance and agility of business processes by rapid implementation of its industry-leading Business Process Management (BPM) products.

Singularity’s mission is to populate the world with agile organizations. As the leading Business Process Agility specialist we today serve clients in over 30 countries from our offices in London, New York, Singapore, Ireland and India and through our network of partners globally. Acclaimed by leading industry experts, as the best in our field, we provide a unique combination of thought leadership and practical help that creates a new generation of successful organizations.

For further press information please contact Kathryn McDevitt at Singularity.
Email: marketing@singularity.co.uk, or telephone: + 44 28 71 267767. For more information, please visit http://www.singularitylive.com or http://www.singularity.co.uk

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