TSS Software Corporation’s First Quarter Results Signal Strong Market Presence

May 2, 2007

Annapolis, MD -- TSS Software Corporation, a nationwide, independent provider of settlement services software, announced it closed the first quarter of 2007 as its most successful financial quarter in company history. TSS Best known in the industry for its independence from underwriter influence and ownership.

TSS credits its success and solid growth to a strong referral network among its customers, securing a 98-percent customer retention rate—a natural consequence of the company’s sound customer service philosophy. By winning new customer referrals, boosting its professional services offerings, and maintaining steady focus on reliable customer support, the company has furthered its position as the industry’s leading independently owned software provider for title, settlement, and abstracting companies.

During 2007’s first quarter, TSS realized a 20-percent increase in revenues over the first quarter of 2006 based on sales of its complementary menu of ancillary services designed to help users of TitleExpress, TSS’s popular title and settlement platform, maximize the performance of their TSS software. The company strengthened its training services by expanding options to include an extensive Webinar curriculum as well as user seminars annexed with state and regional land title association conferences.

Accompanying expanded training, the company launched its Hosted Solutions service, which offers title agencies an alternative to traditional local or wide area networks. The service makes off-site, Web-based hosting available to users of TSS’s suite of software products, allowing customers to realize savings from costs typically generated with setup and maintenance of an on-site network. Since its release in late 2006, the service has been adopted by more than 120 users.

To better serve TitleExpress customers, the company augmented its specialized Escrow Account Reconciliation Service (EARS) by adding trained consultants with background experience in underwriting, auditing, or quality control disciplines. The service is designed to thoroughly reconcile title agents’ TitleExpress escrow accounts by detecting inaccuracies and highlighting actions needed to bring bank statements and escrow accounts into agreement. 

TSS doesbusiness in all 50 states and the District of Columbia, and claims a nationwide customer base of over 16,000 users encompasses title agencies, settlement services providers, and abstracting companies of all sizes. Because TSS is dedicated exclusively to the settlement services industry, it offers its clients title-oriented customer service and knowledgeable sales staff with broad title industry experience.

“Our first quarter success is a testament to the strength of the TSS commitment to customer service with a clear-cut focus on delivering value. Our customers’ loyalty demonstrates a high level of trust in TSS and its products,” said Robert Miller, TSS CEO. “Looking ahead to the rest of 2007, we anticipate continued growth as the real estate market stabilizes, interest rates fall, and settlement services firms become more optimistic.” 

Source: TSS Software Corporation

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