As the industry leader with over a century of experience in credit-based services, Smyth understands the working capital challenges that America's midsize businesses face
South Plainfield, NJ (PRWEB) October 6, 2009
Smyth Solutions and its affiliates Smyth Credit Services and Bernard Sands LLC, leaders in credit, collections and accounts receivable information, services and technology partnered with The Receivables Exchange, the world's first online marketplace for real-time trading of accounts receivable. This will allow Smyth's customers to quickly and easily monetize their accounts receivable in The Receivables Exchange's proprietary online auction marketplace.
"As industry leaders, in credit and accounts receivable management services, and as developers of our own leading Carixa credit and accounts receivables SaaS technology, we immediately recognized the value that The Receivables Exchange's innovative A/R auction platform can bring to companies who are seeking a better way to manage their cash flow," said John Metzger, Chairman of the Smyth Companies. "By working together, and ultimately integrating the A/R auction platform into the advanced technology services we provide to our many hundreds of clients, we will be able to help these clients further improve their financial performance and reinvest to realize even greater growth."
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, Smyth's customers will be able to reduce their cash conversion cycles, gain access to competitively priced capital and reinvest that cash into growing their business.
"As the industry leader with over a century of experience in credit-based services, Smyth understands the working capital challenges that America's midsize businesses face," said Justin Brownhill, co-founder and chief executive officer of The Receivables Exchange. "Like us, they know that businesses can realize tremendous growth and enhanced financial performance by improving their accounts receivable management. We are a perfect complement to helping Smyth's clients maximize the efficiency of their working capital and improve their liquidity position."
Learn more about how to improve cash flow and finance accounts receivables.
About The Smyth Family of Companies - since 1906
Smyth is a leading provider of services for accounts receivable, credit, collections and deduction management, including credit information and risk mitigation, and related Software as a Service (SaaS) technology. Known for its technology leadership and subject matter expertise, Smyth offers its clients a single partnership to help solve all of their A/R, Credit, Collections and Deduction needs. For more information visit http://www.smythsolutions.com.
About The Receivables Exchange
The Receivables Exchange http://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.