SOURCE: eCredit

August 10, 2005 10:55 ET

eCredit and PredictiveMetrics Announce Strategic Alliance

Partnership Sets New Standard for Credit and Collections Decision Support and Accounts Receivable Portfolio Risk Management

DEDHAM, MA and TINTON FALLS, NJ -- (MARKET WIRE) -- August 10, 2005 -- eCredit, a leading provider of online software and industry-specific reports for credit and collections professionals, announced today that it has entered into a strategic alliance with PredictiveMetrics, a leading predictive scoring company specializing in statistical modeling and knowledge-based risk management solutions for credit risk analysis, collection strategy design, debt recovery, and debt buying. This alliance will allow eCredit's customers to further streamline their operations and gain greater visibility into their accounts receivable portfolio risk through integration with PredictiveMetrics' Net30Score™. Net30Score is a multifunctional decision support system that leverages internal accounts receivable data (the most predictive, readily available, and free) to help predict delinquency, improve DSO, and minimize write-offs. The Net30Score model and other products from PredictiveMetrics combined with eCredit's powerful credit and collections automation platform and credit reports offers commercial credit professionals an easy to implement, cost-effective solution for improving credit and collection operations and lowering overall portfolio risk.

"The alliance with PredictiveMetrics is an excellent fit for us and will add significant value to eCredit's customers," said Jeff Dickerson, eCredit CEO. "Linking our leading online credit and collections management solution and our industry-specific credit reporting information with PredictiveMetrics' statistical scoring models will enable companies to make better credit and collections decisions, with better information, in a fully-automated environment."

"We are very excited about the benefits the PredictiveMetrics and eCredit alliance presents to the marketplace. Companies are continually seeking ways to accurately forecast their customers' ability to pay and to quickly determine when the money will arrive," said Michael Banasiak, PredictiveMetrics' President. "Using our Net30Score and customized scorecards to leverage internal A/R data to predict the probability that an existing customer will become seriously delinquent, go to loss, or bankruptcy together with eCredit's superior credit and collections management platform offers unprecedented advantages, including better decisions at a lower cost and improved operational efficiencies."

About eCredit

eCredit is the leading provider of online solutions for credit and collections professionals. Its award-winning on-demand software family -- Personal Edition, Professional Edition, and Enterprise Edition -- supports the mission critical processes of granting credit, monitoring portfolio risk, resolving disputes and collecting accounts receivables. Within the Transportation industry, eCredit's solutions also include credit reports with over 35 million trade experiences on over 7 million unique companies. With deep roots in the credit and collections community, eCredit has over a decade of experience helping companies reduce bad debt and DSO while improving productivity, lowering costs and demonstrating results. eCredit is a private company headquartered in Dedham, Massachusetts. Major clients include American Airlines, Chevron, Cisco, Continental Airlines, Con-Way Transportation Services, Samsung Electronics, Cargill, NEC Financial, Graybar, CDW, Sun Microsystems, and Ryder System. For more information, please visit www.ecredit.com.

About PredictiveMetrics

PredictiveMetrics (PMI) turns probabilities into profits by helping customers improve credit and collection department productivity, reduce DSO and bad debt write-offs, and optimize collection effectiveness. PMI, established in 1995, is the leader in providing predictive scoring and knowledge-based decision support systems for credit granting, accounts receivable portfolio management, collection prioritization, debt recovery and debt buying. The technical staff is comprised of Ph.D. and masters level econometricians and statisticians that have extensive experience developing statistical-based decision support solutions utilizing PMI's proprietary software and state-of-the-art hardware. The combination of PMI's analytical staff and its internal systems, specifically designed to achieve maximum results in the shortest possible time, provides customers with sophisticated, yet easy to implement, profitable solutions at a reasonable cost. Major clients include several divisions of GE Capital, Florida Power & Light, De Lage Landen, Wright Express, West Asset Management, NCC Commonwealth, OSI Portfolio Services, and Rent.com. PMI is a privately held corporation headquartered in Tinton Falls, NJ. For more information, please visit www.predictivemetrics.com or call 732-530-9303.

Contact Information

  • Press Contacts:

    Kate Anderson
    eCredit.com
    (781) 752-1250
    Email Contact

    Eileen O'Hare
    PredictiveMetrics, Inc.
    (732) 530-9303
    Email Contact