The PRWIRE Press Releases https:// 2004-05-06T04:00:00Z River Dynamics Wins Prestigious AIIA iAward 2004-05-06T04:00:00Z river-dynamics-wins-prestigious-aiia-iaward Last night, at a gala dinner at CeBIT, the Australian Information Industry Association announced that River Dynamics has won the Outstanding Australian Product Innovation award in the 2004 iAwards. River Dynamics? success follows its win in the Innovations in Claims Management category, awarded by the Australia and New Zealand Institute of Insurance and Finance (ANZIIF) last September. River Dynamics? flagship product, smartAlloc, is a web-based system that intelligently allocates work to service providers based on their historical performance in important performance measures such as cost, quality, timeliness, and impact on outcomes. The system also connects purchasers and their suppliers electronically to enable a highly efficient business process. smartAlloc is already being used by some of Australia?s largest insurers and WorkCover Authorities, with outstanding results. In every implementation, provider performance has been enhanced in direct correlation to the relative importance placed by the insurer on the various performance measures. However, the system is equally applicable to other business sectors. Derek Brand, River Dynamics? director, sales & marketing, said that the business opportunity for smartAlloc, worldwide, is enormous. ?smartAlloc?s patented intelligent allocation process is unique. Across the globe, more than 50% of companies? expenditure relates to service providers. Intelligent allocation of new work to these providers, which motivates them to provide optimal performance so that they receive more work in the future, was the missing link. Merely connecting purchasers and service providers electronically has little or no impact on optimising providers? performance?. River Dynamics has ambitious growth plans. ?We are beginning to execute our international expansion,? said Brand, ?with our first reseller already established. We also want to apply our technology, and our approach to other industries. For example, a GP could allocate a patient to a specialist based on their proven historical ability to deliver optimal outcomes for a particular medical condition. And a telecommunications company could allocate service jobs to the providers who are most likely to do it quickly and efficiently.? ?We are very proud to win this award,? said Brand. ?We are hoping that this endorsement will open more doors, so that we can share the benefits of intelligent allocation across more Australian companies and government organisations?. The AIIA iAwards recognise companies with outstanding products or solutions for the information & communications technology (ICT) industry. AIIA assists the ICT industry to meet its business objectives and set strategic directions. ends River Dynamics takes smartAlloc, its intelligent supplier management system, to new markets 2004-03-31T05:00:00Z river-dynamics-takes-smartalloc-its-intelligent-supplier-management-system-to-new-markets Australian software company River Dynamics is launching into new markets its flagship product smartAlloc, a system for intelligent work allocation to suppliers. The company is expanding from its established base in insurance to new business sectors both here and overseas. Originally developed for insurance companies to manage external service suppliers, smartAlloc is applicable to any business managing a number of external or internal service suppliers. Work can be allocated to suppliers in real time based on their historical performance against defined criteria. Within the insurance sector, the criteria most commonly used to assess performance are the cost, timeliness and quality of suppliers? work. However, the system can use any quantifiable outcome measure to assess performance, with different measures weighted by the client to meet particular business needs. In addition to its primary purpose of intelligent work allocation, smartAlloc also improves communication between clients and suppliers through its electronic messaging, document storage and online invoicing features. Reports within the system allow the client to compare the performance of different suppliers, to evaluate the impact of supplier management strategies on outcomes, and to assess the performance of internal staff dealing with suppliers. smartAlloc is a web-based system which is easily implemented without disruption to normal business activities. Installation and training generally takes two days, and users find the system straightforward to use. The savings achieved following implementation rapidly offset the transaction-based fees for the system. Existing clients have achieved savings of up to 30% within 3 months of implementing the system, as well as improvements in supplier timeliness and work quality. An additional benefit for staff dealing with suppliers is their reduced workload and less time spent dealing with queries from suppliers. Supplier response to the system has been extremely positive. Suppliers have welcomed the improved communication channels with the client, knowing what criteria their work will be measured against, and getting feedback about their performance relative to other suppliers. ?Following the success of smartAlloc in insurance, we are confident that the product will provide similar benefits to other business sectors. In particular, we think there are opportunities in government, health, telecommunications and utilities?, said Derek Brand, Sales and Marketing Director for River Dynamics. ?The benefits from smartAlloc are apparent so quickly, and the implementation costs so low, that any company dealing with suppliers can manage this aspect of their business with minimal risk and with the expectation of reduced costs, improved outcomes and better supplier relations.? QBE has been using smartAlloc since 2000. ?The adoption of smartAlloc has provided the business with an effective capability to monitor the performance of suppliers, streamline work practices and achieve cost savings without compromising the quality of our service,? said Grant McDonald, QBE?s National Claims Manager, Workers Compensation. ?We plan to extend the use of the system to other supplier chains. smartAlloc will enable us to measure and optimise the value of our interactions with suppliers for the benefit of both our clients and QBE.? In parallel with its expansion within the Australian market, River Dynamics is also looking at international opportunities. Last month the company signed an agreement with its first international reseller, a South African company already in talks about smartAlloc with a number of large organisations in that market. River Dynamics is also in the early stages of looking for partners in the US and Europe. With an Australian patent for the management of suppliers based on their historical performance, and worldwide patents pending, the company is well positioned for this planned expansion. River Dynamics won the 2003 Innovation in Claims Management Award presented by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), and is a finalist for the 2004 iAwards presented by the Australian Information Industry Association (AIIA). About River Dynamics River Dynamics, an Australian software company established in 2000, is a leading provider of supplier management software to the insurance industry. Privately owned and funded, the River Dynamics is currently developing partnerships to assist in its expansion into additional markets in Australia and overseas. smartAlloc, the company?s flagship product, already installed in a number of major insurance companies, including AAMI and QBE, uses a patented process to allocate work to suppliers in real time based on their historical performance. It also provides a variety of features, such as electronic messaging and online invoicing, to facilitate communication with suppliers. The overall result is optimisation of the outcomes achieved from suppliers. www.riverdynamics.com For further information please contact: Derek Brand River Dynamics 0407 689 994 Shuna Boyd BoydPR 02 9418 8100