NEW ENCOMPASS VISUAL INFORMATION MANAGEMENT TECHNOLOGY SET TO DRIVE STEP CHANGE IN UK INSOLVENCY INDUSTRY

Encompass Corporation, provider of industry-leading visual information management technology to the insolvency and restructuring sector, has announced its Encompass platform is now on general availability release across the UK.

Founded in Australia in 2011 by seasoned entrepreneurs Roger Carson (now Global Sales Director) and Wayne Johnson (CEO), Encompass is based on the premise that the best decisions are made when people understand the full picture.

Encompass enters the UK insolvency and restructuring sector following extensive research and referrals from Australian customers to their UK counterparts.  The company also recognised close parallels between the two markets in terms of use cases, legislation and types of information employed.

The UK launch of Encompass follows a period spent developing close relationships with prospective information provider partners and organising beta testing and solution prototyping with a pre-release group of insolvency practitioners.

“The latest UK insolvency statistics show that, in 2014, the number of administrations was at its lowest since 2004 while receiverships and CVAs declined to their lowest level since 2007,” says Encompass CEO Wayne Johnson. “With fewer cases up for grabs, the industry has become more competitive and therefore needs to be more effective when it comes to business development and more efficient with the work they do win. Encompass enables firms to do this by allowing them to assess the circumstances of a company more quickly to make better, faster commercial decisions.”

Kevin Pinkerton, Partner at law firm Freeths, who took part in the Encompass pre-release program says “A sizeable element of insolvency work is speculative. This means that inevitably costs will be incurred which may ultimately be irrecoverable. Assessing possible Insolvency Act claims is not something you can dumb down or make simple. With Encompass, information is able to be assessed more quickly, which is ultimately going to be helpful to us and our clients.”

Further strengthening its position in the UK, Encompass has developed a close partnership with R3, the leading trade body for insolvency professionals, business recovery and turnaround specialists in the UK. As a Key Sponsorship Partner, Encompass will present at a series of R3 technical meetings across the UK.

Giles Frampton, president of R3 says “An important aspect of R3’s role is to support insolvency practitioners to adopt best practice and to continue to innovate in the market. We are excited at signing up Encompass as a technology partner that understands, identifies with and fully supports these core goals. We look forward to growing the relationship with Encompass as they continue to develop their role in the UK.”