News & Events

CREDIT CRUNCH DRIVES THE DEMAND FOR RAPID DEPLOYMENT OF SUPPLY CHAIN FINANCING SOLUTIONS

 

3 October 2007 – Gresham Computing plc, the real-time financial solutions specialist, today announced a landmark deal with Credit-IQ Limited, Europe’s leading provider of accounting data extraction technology to meet the dynamic growth in demand for supply chain financing.

 

The result, Clareti Payables Financing, is an out of the box complete solution to electronic factoring, receivables purchasing and inventory financing. It enables a bank to access the granular information necessary to deliver electronic trade finance solutions. With better access to corporate data, it enables better credit decisions, faster.

 

At its heart, the solution dynamically extracts core accounting information from buyers and suppliers using Credit-IQ’s OSMO™ technology and populates Gresham’s advanced Clareti Payables Financing solution.

 

Andrew Walton-Green, CEO of Gresham Computing plc, explained:

 

“The electronic supply chain finance market is in its infancy but will become mainstream virtually overnight due to huge demand from companies of all credit ratings. Our technology, when linked to banks with a expertise in trade finance, provides an unparalleled and rapidly deployable payments platform and information service to deliver trade finance solutions.”

 

Credit-IQ’s CEO, Oliver Chadwick, said of the new partnership:

 

“Clareti Payables Financing and Credit-IQ provide the back bone much in the same way that Apple’s mini Mac technology is ‘BYODKM’ (Bring Your Own Display, Keyboard and Mouse). With this approach, it’s ‘BYOM’ (Bring Your Own Money) - and we’ll supply the rest.

 

While global supply chain financing can be complex due to the legal and regulatory issues, in many areas the roads are well worn. The ability to quickly enter this market with tried and tested technology enables a bank to respond to the rapidly changing trade finance markets. Project initiation is measured in weeks, not months.”

 

The Clareti Payables Financing solution will be showcased at SIBOS in Boston. Visit stand B01 to discover more.

 

- ENDS

 

Notes to Editors
Gresham Computing specialises in the provision of real-time financial solutions to banks and corporates. We are a recognised payments specialist, and have a well-deserved reputation for innovation, technical excellence, reliability and a strong service culture. Our Clareti solutions help organisations remove duplication, improve connections and deliver the right information to the right place at the right time.

 

Credit-IQ is trusted by an established and fast growing base of customers in Europe and the United States to provide effortless transparency in accessing real-time visibility of client, buyer and supplier financial data from the diverse range of accounting packages run by corporates.

 

Credit-IQ’s OSMO leads the market in the provision of data extraction services for invoice discounters, factoring houses, auditors, outsourced credit management providers, stock finance providers and other asset based lenders. Clients include Bank of Ireland, Close Invoice Finance, Eurofactor, Fortis, Landsbanki AF, and Lloyds TSB. For these firms, right first time, every time automation of daily extracts from their clients’ accounts packages is vital to the operational efficiency of their business.

 

For more information contact:

 

Rob Glenn
Sales and Marketing Director

Gresham Computing plc

+44 (0)20 7653 0272

rglenn@gresham-computing.com