ADP will use eFinance’s Transaction Finance System(TM) (TFS) to electronically accept and evaluate applications and extend credit to ADPCC’s qualified business customers.
Our selection of eFinance as a technology provider to ADP was based on their proven technology, management team, and ability to execute. We were impressed with the comprehensive online credit application and decisioning platform that eFinance will offer ADP, said Mike Flanagan, VP and general manager, ADPCC. Using eFinance technology, our credit associates and regional managers can quickly evaluate applications and deliver real-time credit decisions and fulfillment to our business customers, resulting in reduced costs, greater productivity, and improved service for ADP, our dealers, and their customers.
ADPCC will use the eFinance TFS(TM) in an automated, online mode. This technology platform will enable internal ADPCC credit officers to evaluate a credit application and make real-time credit decisions that incorporate multiple business information and credit scoring databases, and generate documentation, including lease agreements. The eFinance TFS(TM) will incorporate ADPCC’s full underwriting standards that are used to evaluate a prospective customer’s credit standing and repayment ability. eFinance will also provide ADPCC with proprietary fraud detection technology that will enhance ADPCC’s underwriting process.
We are very pleased to be working with ADP, one of the most successful and respected computing services companies, said Reid Rutherford, CEO of eFinance Corp. ADP is committed to providing competitive products and world class client service to its business customers. The eFinance TFS(TM) provides ADP with a powerful technology platform that generates increased revenue through faster decision times and increased profitability through streamlined workflow processing. We have designed the TFS(TM) for seamless integration into ADP’s existing internal credit procedures and workflow processes. This deal represents another important milestone for eFinance.
