DEDHAM, MA, and ST. LOUIS, MO – eCredit and XTRA Lease today announced that XTRA Lease’s implementation of nFusion®, eCredit’s integrated credit and collections automation suite, has won a 2004 Alexander Hamilton Award for Credit Risk Management. Presented annually by Treasury & Risk Management magazine, a unit of Wicks Business Information, LLC, the Alexander Hamilton Awards were created in 1996 to celebrate excellence in treasury and financial management.
“We are honored to be recognized with a medal of distinction for excellence in Credit Risk Management in this year’s Alexander Hamilton Awards,” said John Pomilio, Vice President, Customer Financial Services, XTRA Lease. “As a leader in the trailer rental and leasing industry, it is of critical importance to us to continue to provide optimal customer service, and a key component of our success in this area has been our ability to make high- quality credit decisions rapidly. For XTRA Lease, credit is an integral part of how we do business and interact with our customers, and we appreciate the role that nFusion from eCredit has played in helping us attain and exceed our corporate objectives.”
In presenting the award, Treasury & Risk Management applauded XTRA Lease for its innovative implementation of eCredit’s nFusion system which allowed XTRA not only to cut dramatically the time for processing credit approvals but also the cost of the data required to make those approvals. The award for Credit Risk management was presented at Treasury & Risk Management’s Alexander Hamilton Best Practices Summit, held this year on October 5th and 6th in New York City, at which eCredit CEO Deepak Verma moderated the panel discussion on effective credit risk management and XTRA Lease’s Pomilio participated as a panelist.
eCredit’s nFusion has helped drive value this year for companies from a diverse range of vertical industries, including leading national rental and leasing agents like XTRA Lease, wholesalers and distributors, financial services companies and a leading national newspaper. Offered in application service provider (ASP) and customer hosted environments, the nFusion suite goes beyond addressing the key pain points of today’s credit and collections departments by enabling companies to gain additional synergies across business process and organizational boundaries. With nFusion, credit information can drive more effective collections strategies, and collections data can improve and inform the credit process. As a result, nFusion not only brings together information that improves credit and collections operations, but also enables advanced modeling and predictive results through its comprehensive portfolio management capabilities.
“We firmly believe that the success of eCredit as a company can best be measured by the success of its customers,” said Jeff Dickerson, eCredit president. “It brings us great pride to see our customers recognized for the operational gains that our software has helped them make. We look forward to continuing to develop strong relationships with customers like XTRA Lease as we build out our trade receivables management suite in 2005 and beyond.”
About XTRA Lease
Based in St. Louis, XTRA Lease, a division of XTRA Corporation and owned by Berkshire Hathaway, is a service-oriented equipment lessor, providing custom-made rental, lease and lease/purchase packages. With almost 90 locations and 600 employees in the United States, Mexico and Canada, XTRA Lease offers a fleet of more than 90,000 trailers that includes dry vans, flat beds, reefers and specialty equipment.
About nFusion
eCredit nFusion is the most comprehensive Web-based credit and collections automation suite of applications available today. The nFusion suite offers credit and collections modules which can be utilized by themselves, or in a completely integrated and seamless environment. As a result, nFusion combines the power of credit decision automation, portfolio and customer risk analysis, and scoring with workflow management capabilities and collections automation features to streamline the financial value chain. As the only solution available today to truly integrate both collections and credit functionality, nFusion offers breakthrough advancements to improve business credit decision processes, reduce costs, optimize risk exposure, improve revenues, reduce DSO, accelerate cash flow and improve productivity.
About eCredit
Since 1993, eCredit has delivered credit risk management and collections software and services to Fortune 1000 companies and financial institutions. The company improves credit and collections decision-making practices to deliver process efficiencies, optimized risk management, reduced operating costs, and increased revenues. Included among the company’s customers are ChevronTexaco, Cisco, CIT Group, Sun Microsystems, and Ryder System, Inc. Headquartered in Dedham, Massachusetts, eCredit is funded by Apex Venture Partners, Internet Capital Group, North Hill Ventures and Sterling Venture Partners. For additional information, visit eCredit on the Web at www.ecredit.com.
