The Receivables Exchange Forms Alliance with American Staffing Association

NEW ORLEANS & ALEXANDRIA, Va. - The Receivables Exchange, the world’s first online marketplace for real-time trading of accounts receivable, today announced that it has partnered with American Staffing Association (ASA), the voice of the nearly $90 billion staffing industry whose members account for 85% of U.S. staffing industry sales and operate more than 15,000 offices throughout the nation. One of the greatest challenges for staffing companies – even in the best of times – is to manage their cash flow to meet their significant payroll needs. ASA members can quickly and easily monetize their accounts receivable in The Receivables Exchange’s proprietary online auction marketplace to help them improve their cash flow. All ASA members will enjoy select benefits when they sign up to increase their liquidity on the Exchange.

“The Exchange delivers an innovative cash flow solution to help our members fund growth,” says ASA president and CEO Richard Wahlquist.

For most companies, accounts receivable represent their greatest source of working capital, with more than 60% tied up in outstanding invoices. The Receivables Exchange connects Buyers and Sellers in a real-time auction marketplace to buy and sell receivables. By selling their receivables in an open and competitive marketplace, businesses can reduce their cash conversion cycles, gain access to competitively priced capital and reinvest that cash into growing their business.

The Receivables Exchange helps staffing companies normalize their DSOs and improve the cash flow issues that challenge so many firms in the industry. The transparent, online marketplace allows companies to maintain complete control of the financing – selling only those receivables they see fit and only at the price they’re willing to pay.

“The Receivables Exchange and ASA understand the working capital challenges that staffing companies face and the constraint these challenges can put on their continued growth and success,” said Justin Brownhill, co-founder and chief executive officer of The Receivables Exchange. “Like us, ASA knows that businesses can realize tremendous growth and enhanced financial performance by improving their accounts receivable management. We are a perfect complement to help the association’s Members maximize the efficiency of their working capital and improve their liquidity position.”

Companies of all sizes and from all industries have benefited from selling their outstanding invoices on The Receivables Exchange, with the staffing industry representing its greatest area of growth. Benefits of accounts receivables financing through The Receivables Exchange:

• Increased Liquidity - Access to cash in as little as 24 hours rather than the current 50+ day payables process to fund operations
• Complete Financing Control - Sellers set all auction parameters. If a bid does not meet the Seller’s parameters, the Seller is not required to sell
• Lower Cost of Capital - Competitive real-time bidding by multiple Buyers drives down the cost of capital
• Less Restrictive – No personal guarantee; traditional lending institutions have restrictive covenants and liens on collateral, which can limit a business’s spend flexibility
• Key Financial Benefits – Decrease Days Sales Outstanding (DSO), increase liquidity ratios, enhance ROE
  

Find out more about the American Staffing Association. To learn how staffing companies nationwide have used The Receivables Exchange to increase their liquidity, log onto www.receivablesxchange.com/staffing. Learn more about how to improve cash flow and finance accounts receivables.

About The Receivables Exchange
The Receivables Exchange (www.receivablesXchange.com) is the world’s first online marketplace for real-time trading of accounts receivable. The Receivables Exchange is changing the landscape of small business financing by providing a new dimension in working capital management. The Exchange connects a global network of accredited institutional investors (Buyers) to the nation’s millions of small and mid-sized businesses (Sellers) in search of capital to grow. Buyers get direct access to an $18 trillion new investable asset; Sellers gain access to a new competitive working capital management solution by having their receivables bid on in real-time by multiple Buyers.

About American Staffing Association
The American Staffing Association promotes legal, ethical, and professional practices for the $86 billion U.S. staffing industry. ASA members account for 85% of U.S. staffing industry sales and operate more than 15,000 offices throughout the nation. Some 2.7 million Americans go to work for U.S. staffing companies every business day. Founded to promote flexible employment opportunities and ensure the quality of staffing services, ASA has been the voice of the U.S. staffing industry since 1966. Members provide a wide range of employment services and solutions, including temporary and contract staffing, recruiting and permanent placement, outplacement and outsourcing, training, and human resource consulting. ASA and its affiliated chapters promote the interests of the industry through legal and legislative advocacy, public relations, education, and the establishment of high standards of ethical conduct.