FinanceEdge and Diligenz Form Alliance to Provide Complete Solution for UCC Filings
ST. PETERSBURG, FL., October 16, 2006—FinanceEdge Software LLC, a premier provider of software solutions to the equipment leasing and financing industry, has teamed with Diligenz, the country's leading provider of Web-based due diligence services, to offer a complete, user-driven solution for managing Uniform Commercial Code (UCC) filings-recognized in all 50 states as a key component of establishing and protecting lien position in commercial transactions. The solution integrates the financial workflow-based tools offered through FinanceEdgeCS with Diligenz Web Services technology to create a highly efficient means of creating, sending, and managing UCC filings.
"Every part of the loan process can now be done through FinanceEdgeCS, our flagship software product," says Thomas J. McKeon, president of FinanceEdge Software. "With other UCC filing solutions, users have to directly access the service provider or state Web site to do their filing. This new system increases efficiency, virtually eliminates data entry duplication, and puts the control in the hands of the customer through one simple interface."
With all processes and forms interfaced together through the Web Services structure built by Diligenz, the solution enables users to initiate and fully manage their filings, amendments, continuations and terminations. It also includes a robust internal security system that can determine the user's role based on approved access and required fields. A workflow engine enables users to customize their own financing process and associated rules. "A large company may need a series of sophisticated checkpoints, while a smaller company would require a simpler system for filing. By using FinanceEdgeCS/Diligenz, users can build a workflow that best suits their needs," McKeon explains.
"Diligenz is pleased that FinanceEdge chose our industry-leading technology to streamline the funding and perfection process for its customers," says David Hepker, chief technology officer. "Automating highly-manual processes, such as UCC filing, will help users better manage risk and reduce errors."
Michael C. Cumby, CTO of FinanceEdge Software, will demonstrate the new solution at the 45th Annual ELA Convention October 22-24 in Palm Desert, California. The demonstration will be part of a presentation on the practical applications of Web Services. "The industry has been talking about Web services for some time, but few have proven its real-life uses," says Cumby. "The Diligenz/FinanceEdge solution is a prime example of how Web Services can be used to support compliance activities, increase productivity, streamline workflow, and reduce costs."
About Diligenz Inc.
Diligenz Inc., a division of Delaware-based Corporation Service Company, is the country's leading provider of accurate and timely UCC and corporate data search, filing, document retrieval, portfolio management and integration services nationwide. Headquartered in Mukilteo, Washington, Diligenz provides UCC searching and filing, corporate document retrieval, federal and state tax lien, litigation, and judgment lien searches, business credit reports and flood determinations. The company serves a wide range of customers nationwide, from leading commercial banks and capital finance companies to leasing companies and law firms. For more information, visit http://www.diligenz.com.
About FinanceEdge Software LLC
FinanceEdge Software LLC is a long-established provider of software solutions to the equipment leasing and finance industry. Originally a part of Cyence International, FinanceEdge has since spun off from Cyence to focus exclusively on the needs of growing small to medium-sized companies in the leasing and financing industry. FinanceEdge CS, the company's latest evolution of software technology, gives customers the technological edge to succeed in today's financing marketplace. For more information, visit http://www.financeedgesoftware.com.
For Immediate Release
Contact: Susan Carol
Susan Carol Associates Public Relations
(540) 361-1274
