Provana Announces Acquisition of ComplyARM

CHICAGO, Ill. and PORT SAINT LUCIE, Fla. -- Provana, a leading provider of innovative technology solutions and knowledge process outsourcing for the Receivables Management industry, is proud to announce their acquisition of the ComplyARM compliance management platform.  This acquisition will assist Provana with the continued expansion of their core products into the creditor, debt buyer, and collection agency business verticals. As part of the acquisition, ComplyARM co-founder Adam Parks will participate as an executive advisor with Provana, adding his unique perspective to their knowledge base. 

The combination of the Provana IPACS® and ComplyARM Dashboard SaaS compliance management systems will provide clients of both systems with improved and enriched functionality, features, and tools. Users of both platforms are expected to see enhancements before the end of 2019 but should expect no immediate changes to their services.   

“I am very excited to connect two leading compliance management platforms. This unification will significantly strengthen the innovative solutions we collectively provide to our clients” says ComplyARM co-founder, Adam Parks. “The Provana team consistently impresses me with their talent and expertise. This strategic integration of two powerful platforms will take compliance solutions to the next level. With regulatory changes in the works, Provana’s development team is poised to quickly develop and execute comprehensive solutions that meet the evolving needs of the industry.” 

 “The acquisition of ComplyARM is an incredible opportunity for us,” says Provana Vice President of Platforms, Sean Clark. “It is a natural fit, giving us the chance to incorporate valuable new features and insights into our IPACS® platform.“

About ComplyARM

ComplyARM began as a company that audited debt buyers and collection agencies to assist in the development of their policies and procedures manuals. They quickly evolved into a software solution used by receivables management firms to manage compliance-related tasks. Co-founded by industry veteran Adam Parks, ComplyARM offered a unique perspective to managing compliance.

About Provana

Founded in 2011, Provana is an information technology company that specializes in cutting-edge technology platforms for the credit and collections industry. Provana partners with organizations of all sizes to increase profitability and improve performance across the collection lifecycle. Provana is headquartered in Chicago, Il.