Tier Signs Child Support Customer Service Unit Contract with State of Tennessee.RESTON, Va. -- Tier Technologies, Inc. (Nasdaq: TIER), a leading provider of transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and packaged software See software package. and systems integration solutions for public-sector clients, announced today that it has signed a multi-year contract with the Tennessee Department of Human Services to operate the state's Child Support Customer Service Unit. This contract, valued at approximately $5.8 million for the initial three-year term, runs through June 2007 and includes extension options for up to two years. Under this contract, Tier will operate Tennessee's Child Support Customer Service Call Center, fielding all child support customer service calls, and providing accurate information in a timely manner. This unit will be collocated with the child support payment processing center that Tier currently operates for Tennessee. Unifying the operations of these two previously separate child support service units builds upon the benefits of Tier's partnership with Tennessee, and provides the potential to enhance service delivery to Tennessee's child support community. In providing this service, Tier will leverage the customer service solution design and implementation expertise of its recently acquired EPOS (Electronic Point Of Sale) See point of sale. business unit. Tier's extensive child support experience and understanding of Tennessee's child support program, combined with the technology focused customer service experience of EPOS, will provide Tennessee with a customer service solution designed to meet the needs of the State today, as well as providing scalability for future growth. "It is critical that all requests for information or assistance, no matter how complex, be addressed correctly and efficiently by the Child Support Customer Service Call Center," said Mike Adams Mike Adams may refer to:
"Tier is committed to the success of Tennessee's child support program," said James R. Weaver
The Weavers are small passerine birds related to the finches. These are seed-eating birds with rounded conical bills, most of which breed in sub-Saharan Africa, with fewer species in tropical , Tier's Chairman and Chief Executive Officer. "We are delighted to have the opportunity to build on our relationship with Tennessee in providing this comprehensive child support solution. We look forward to combining our first-hand knowledge of Tennessee's child support operations with our proven child support customer service methodologies for the benefit of Tennessee's child support community." Tier has provided the State of Tennessee with child support payment processing services since 1999. From October 1999 through December 2003, Tier processed over 11.5 million child support payments totaling more than $1.4 billion in payments to Tennessee's custodial parents. Tier announced its contract renewal to operate Tennessee's Child Support Payment Processing Center on June 3, 2004. Today's announcement regarding Tier's Tennessee Child Support Customer Service Unit contract is in addition to the previously announced Payment Processing Center contract. About Tier Tier is a leading provider of transaction processing and packaged software and systems integration services for public-sector clients. We combine our understanding of enterprise-wide systems with domain knowledge enabling our clients to rapidly channel emerging technologies into their operations. We focus on sectors that we believe are driven by forces that make demand for our services less discretionary and are likely to provide us with recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. long-term revenue streams. Tier is included in the Russell 3000(R) Index. More information about the Company is available at www.Tier.com. Statements made in this press release that are not historical facts, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Each of these statements is made as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" based only on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including but not limited to the potential loss of funding by clients, including due to government budget shortfalls or revisions to mandated statutes; failure to achieve anticipated gross margin levels with respect to individual projects, including due to unanticipated costs incurred in fixed-price or transaction-based projects; the timing, initiation, completion, renewal, extension or early termination of client projects; the Company's ability to realize revenues from its business development opportunities and achieve cost savings from its restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). activities; and unanticipated claims as a result of project performance, including due to the failure of software providers or subcontractors to satisfactorily complete engagements. For a discussion of these and other factors which may cause our actual events or results to differ from those projected, please refer to the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Sept. 30, 2003, Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2004, as well as other filings with the SEC. |
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