Ontario Systems, a leading provider of enterprise workflow automation software – which accelerates revenue recovery and removes friction from the payments process for clients in the accounts receivable management (ARM), healthcare, and government markets – today announced its acquisition of Katabat, a leading cloud-based collection platform providing cutting edge solutions to debt resolution for both lenders and borrowers.
Ontario is officially expanding its substantial collections workflow footprint into the $2.5B+ first-party collections market segment—making them one of the few technology companies to serve both first- and third-party collections.
Katabat's debt collection platform leverages machine learning, a robust strategy engine, and leading compliance capabilities to help businesses ranging from globally recognized lenders to nimble debt collectors improve collection rates, enhance operational efficiencies, and reduce compliance risk. Katabat has grown its customer base to include entities ranging from international banks to leading digital consumer finance companies. Through the acquisition of Katabat, Ontario continues to expand upon the value it brings across the continuum of the accounts receivable market, where it has been the industry's most dependable collection platform for over forty years.
"As we grow and evolve as a company, we want to continue identifying smart ways to expand upon the value we bring to both our customers as well as our teams," said Ontario Systems CEO Tim O'Brien. "We see the Katabat acquisition as reinforcing our ambitious strategic growth plan by allowing us to serve a more expansive portion of the accounts receivable market. We are delighted to welcome Katabat's impressive customer base into the Ontario family and are committed to driving value for them by providing innovative solutions to address their business challenges."
A CIOReview Top Customer Experience Management recognized company, Katabat's platform provides customers with a flexible, secure collections solution built by a team of former collections executives with a deep understanding of the industry and its specific needs.
"We are incredibly excited to join Ontario," said Katabat CEO Ray Peloso. "Their decades-long position as the collections industry leader coupled with their established history of helping customers attain bold business outcomes provides the perfect point from which to expand the reach of the innovative work we have been doing at Katabat."