Cambridge Technology Partners and eCredit.com Join Forces to Accelerate E-markets; Partnership Brings Real-Time Credit and Financing Engine to Electronic Markets.Business/Technology Editors CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 10, 2000 Cambridge Technology Partners, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CATP CATP Cambridge Technologies (stock symbol) CATP Coverage Acceptance Test Plan CATP Committee of Adaptation to Technical Process ) (Cambridge), a global e-integration services provider, today announced its newly signed partnership with eCredit.com, a leading B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. firm, to provide joint clients with the services necessary to create electronic markets. E-markets - electronic communities of buyers and sellers - are fast becoming a business medium of choice, as they offer efficient and diverse services to buyers through a single Internet site. The new partnership between Cambridge Technology Partners and eCredit.com will bring an element of trust to e-markets by enabling real time credit and finance between two parties that may not have interacted previously. Cambridge will now be able to help customers leverage the eCredit.com Global Financing Network(TM), which connects businesses to global information sources and financing vendors so credit and financing decisions Financing decisions Decisions concerning the liabilities and stockholders' equity side of the firm's balance sheet, such as a decision to issue bonds. can be processed online in real time at the point-of-sale. The network enables Global 1000 organizations, financial institutions and net-market makers to automate To turn a set of manual steps into an operation that goes by itself. See automation. their entire credit decision process - from credit bureau information access to credit scoring Credit scoring A statistical technique that combines several financial characteristics to form a single score to represent a customer's creditworthiness. and notification of decisions. These capabilities will boost the number of customers that can be approved for credit, increasing sales and revenue. To ensure seamless implementation of the finance capabilities needed to enable e-markets, Cambridge and eCredit.com have agreed to engage in joint training of their delivery specialists, and to share information about each other's technology directions. Cambridge and eCredit.com will also work together on sales and marketing initiatives for shared clients. "Companies need to rethink re·think tr. & intr.v. re·thought , re·think·ing, re·thinks To reconsider (something) or to involve oneself in reconsideration. re all elements of their business model in the New Economy, " said Peter McKay
Peter McKay (1925 – 2000) was a Scottish footballer who played mainly for Dundee United and holds the record of being the club's all-time top goalscorer with 158 league , President of eCredit.com. "When it comes to closing transactions online, our partnership with Cambridge will enable eCredit.com to provide mutual clients with real-time credit and financing for their e-businesses, with even faster implementation times." The partnership will enable Cambridge to implement the Global Financing Network for e-markets quickly and effectively. "Cambridge's relationship with eCredit.com is a great move in accomplishing our goal of being the only company that clients think of when they want to establish an online marketplace in their industry," said Peter Ward, director of e-business marketing, Cambridge Technology Partners. "When combined with our strengths in digital business strategy and end-to-end implementation capabilities across the value chain, our relationship with eCredit.com puts Cambridge at the forefront of this market." About Cambridge Technology Partners Cambridge Technology Partners provides management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and systems integration services to transform its clients into e-Businesses. Working in collaboration with Global 1000, high-velocity middle market companies and dot-com companies An organization that offers its services exclusively on the Internet, either via the user's Web browser or a client program that must be installed in the user's computer. Amazon.com, Yahoo!, Google and eBay are examples of dot-com companies. , Cambridge combines a deep understanding of New Economy issues with integrated, end-to-end services, and a proven track record of shared risk and rapid, guaranteed delivery. Cambridge generated $628.1 million in revenue in 1999, with $243.3 million from its global e-Business solutions. Cambridge has approximately 4,000 employees and 52 offices worldwide. Cambridge on the Web: http://www.ctp.com. About eCredit.com eCredit.com is a leading provider of credit, financing and receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed management solutions for business-to-business and business-to-consumer commerce. Its software solutions and services run on the eCredit.com Global Financing Network, an Internet-based platform that connects businesses to financing partners and global information sources in real time at the point-of-sale. eCredit.com is headquartered in Dedham, Mass. For additional information, visit eCredit.com on the Web at www.ecredit.com. |
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