FinanceEdge to Market Robust Front-End System Designed for SMB Commercial Financing
ST. PETERSBURG, FL., March 21, 2006—Michael C. Cumby, an equipment leasing technology veteran, today announced the formation of a new company, FinanceEdge Software LLC, created to deliver the FinanceEdgeCS front-end platform.
FinanceEdgeCS, previously known as ExpressCS, provides robust origination, documentation, and credit underwriting features and functions that small and mid-size financing organizations need to work effectively and competitively in the leasing and financing industry.
“It is a powerful system at a reasonable cost, and it is designed to interface easily with commonly-used lease accounting, credit scoring, and UCC filing systems,” says Cumby, FinanceEdge CTO, who has been actively involved in the finance industry since 1989. Cumby was the original architect of ExpressCS sold by Cyence International, based in Ontario, Canada .
FinanceEdge will be managed by Cumby and Thomas J. McKeon, who originally worked together for Brokerware, Inc., a software solutions provider founded by Cumby in 1993. Cyence,acquired Brokerware, Inc., in 2001 and Cumby was appointed General Manager of U.S. operations, while McKeon served as Vice President of development for the mid-size market. Their strong professional relationship provides FinanceEdge with a correspondingly strong foundation.
While Cyence will maintain a holding in the FinanceEdgeCS platform, its President Greg McIntosh announced late last year that his company will sharpen its focus on large enterprises with its flagship ExpressOS software solution, which is designed for multinational lending solutions and transactions across multiple currencies, languages, and tax environments and is used by major banks, manufacturers, and commercial finance enterprises worldwide.
The small and mid-size business (SMB) market, generally defined as those enterprises employing fewer than 500 people, is growing in the United States and today represents a significant and growing segment of the economy, according to Inc. magazine data. “Many of these banking, manufacturing, and financing firms need systems especially designed to help SMB companies compete with larger enterprises to win business and increase their profitability,” McKeon, FinanceEdge President, explains. “SMBs also require systems that will grow with them and enable them to interface with multiple systems used by their various divisions, partners, and customers.”
“By forming a new company that will exclusively focus on this unique segment of the commercial financing market, FinanceEdge will be in a better position to respond and expand to meet the specific needs of growing companies,” says Cumby.
For further information about FinanceEdgeCS software and the new company behind it, or to arrange an interview with either Cumby or McKeon, please contact Susan Carol, Susan Carol Associates Public Relations, at 540-659-0843.
