Ferguson Selects eCredit to Drive Credit and Collections Automation
-- Leading National Wholesale Distributor Chooses Integrated nFusion(R) Suite
to Manage $800 Million Credit Portfolio --
DEDHAM, Mass., Aug. 3 /PRNewswire/ -- eCredit, the leading provider of Web-based credit and collections automation applications, today announced that Ferguson Enterprises, Inc. has selected the eCredit(R) nFusion(R) suite to automate its credit and collections processes. Looking to create a centralized system on which credit and collections decisions can be standardized, Ferguson has replaced a competitive credit and collections solution with nFusion 4.0's integrated offering, deployed as an ASP.
Ferguson, a subsidiary of Wolseley, plc, has purchased 400 seats for an eventual rollout to its entire credit and collections department, currently distributed across 170 branch locations in the continental United States, Puerto Rico, Canada and Mexico. The single automated platform will help the company dramatically decrease the amount of time required to process customer credit applications; rather than the 5 to 7 days their existing decentralized system sometimes averaged, Ferguson will now benefit from near real-time processing through nFusion. Additionally, credit and collections staffers will require only an Internet connection in order to have anytime, anywhere access to customer credit and collections profiles.
"The eCredit nFusion suite will have a significant effect on the levels of service that we provide to our customers," said John Culbert, Ferguson vice president of credit. "In order to effectively manage credit and collections data for our 130,000 customers, we needed an automated, integrated suite like nFusion. Using this system, we anticipate lowering our DSO, improving productivity and reducing indirect spend which should give us a full payback on our investment with eCredit within 18 months."
Ferguson will see improvements throughout its organization, notably including the following:
-- An improved ability to monitor risk within their customer portfolio,
which will be able to be segmented by customer size, type, and
geography
-- The security of a central repository for credit and collections data
gathered from 170 separate existing systems
-- The ability to streamline and standardize credit and collections
processes, which will be able to be centrally created and codified
-- Efficient communications regarding credit and collections policies up
and down the chain of command
"For large companies with business models like Ferguson's, the significance of automating credit and collections processes through nFusion is paramount," said Jeff Dickerson, president of eCredit. "Effectively managing a receivables portfolio as diverse as Ferguson's can best be done with nFusion, which offers advancements to improve business credit decision processes, reduce costs, accelerate cash flow and improve productivity."
About Ferguson
Ferguson is part of the Wolseley plc, (NYSE:WOS, LSE: WOS.L) group of U.S. companies that generate annual sales revenue exceeding $7 billion. Headquartered in Newport News, Va., Ferguson is North America's largest wholesale distributor of plumbing supplies, pipes, valves and fittings; and water, heating and air conditioning products. Ferguson has sales of over $5 billion and nearly 13,500 associates in approximately 800 service centers located in 49 states, the District of Columbia, Puerto Rico, and Mexico. For more information on Ferguson, visit ferguson.com. For more information on Wolseley, visit wolseley.com.
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 (Nasdaq:ICGE), North Hill Ventures and Sterling Venture Partners. For additional information, visit eCredit on the Web at ecredit.com.
Press Contacts
Alex Cote
eCredit
(781) 752-1287
acote@ecredit.com
Christiaan Vorkink
Miller Consulting Group
(617) 262-1800
cv@millergrp.com
Jennifer Gwaltney
Ferguson Enterprises, Inc.
(757) 989-2720
jennifer.gwaltney@ferguson.com
SOURCE eCredit
CO: Ferguson; Wolseley plc; eCredit
ST: Massachusetts
SU:
Web site: ecredit.com
prnewswire.com
08/03/2004 09:01 EDT |
