FOR IMMEDIATE RELEASE
Compliance Systems Corporation Provides Business Update and
Details On Proposed Transaction With Execuserve Corp
Glen Cove, N.Y. – November 19, 2009 (Globe Newswire) - Compliance Systems Corporation (OTC BB: COPI) today released an update on the Company’s previously announced intent to acquire Execuserve Corp. On November 12, 2009, Compliance Systems announced that it had entered into a non-binding Memorandum of Understanding to acquire Excuserve. Compliance Systems Corporation believes that upon acquisition of Execuserve, it will be able to leverage its connections within the telemarketing industry to market and distribute Execuserve’s Hire-Intelligence™ and Hire-Choice™ software program to more than 56,900 call centers nationwide which historically have some of the highest rates of employee turn over, averaging more than 300% annually. USA call centers employ approximately 5,219,000 workers nationwide, almost 4% of the US workforce. The software’s dynamic assessments of prospective job seekers entering the telemarketing industry will assist call center operators in identifying which candidates have the potential to achieve higher rates of success, thus reducing new hire costs and increasing call center performance for the software user.
“The follow up on last week's meetings and executed MOU, are being promptly engaged," stated Dean Garfinkel, CEO of Compliance Systems Corporation. "I am optimistic about a timely closing, and I am even happier to include in my update that we have confirmed Execuserve’s software capabilities to sustain, and improve, call center employment efficiencies without additional development of the Execuserve software offerings. We believe the market opportunity for the Hire-Intelligence™ and Hire-Choice™ software suite is significant when considering that on average each of the 50,000 plus call centers typically hire 3 employees just to maintain one agent position.”
Upon completion of the proposed acquisition of Execuserve Corp, Compliance Systems believes that it should be able to offer a complete solution ready for marketing to an existing call center customer base accustomed with the Company’s patented TeleBlock “Do-Not-Call Blocking” system, currently sold by telephone carriers worldwide such as AT&T, Verizon Business and Qwest Communications. While the TeleBlock system assists teleservice professionals to maintain compliance in the highly regulated Do-Not-Call environment by automatically screening and blocking outbound calls against USA and Canadian Do-Not-Call lists, Execuserve’s software suite will offer the potential for improved employee performance and reduced cost. “When bundled together, following the Execuserve acquisition, Compliance Systems believes that it will be able to offer a fully integrated vertical suite of software to call centers that address their most pressing needs, qualified employees and compliance with national Do-Not-Call regulations,” concluded Mr. Garfinkel.
About Compliance Systems Corporation
Headquartered in Glen Cove, NY, Compliance Systems Corporation (www.callcompliance.com), is a developer of technology-based compliance solutions for the teleservices industry. Its prime focus is ensuring 100% compliance with government “Do-Not-Call” laws through its flagship patented product, TeleBlock®, as well as its associated suite of telecommunication products. The company sells to corporate companies and businesses across a wide-range of industries and sectors. Additional information on the company and/or its suite of products can be obtained at www.callcompliance.com or by calling (888) 674-6774. Call Compliance Inc. is a wholly owned subsidiary of Compliance Systems Corporation (OTC BB: COPI).
About Execuserve
Execuserve Corp. is a Virginia corporation with offices located at 929 Williams Wharf Road, Mathews, VA 23109. Execuserve was founded in 1987 as a search/services firm dedicated to helping clients increase revenue and decrease attrition by making smart hiring decisions. From the start, Execuserve differentiated itself from other search firms by using a detailed process model, along with profiling and reporting tools to evaluate candidates and employees from a behavioral perspective. It is this depth of experience that provided the basis for Hire-Intelligence, a revolutionary online behavioral assessment tool.
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