Equifax Inc. (NYSE:EFX) has acquired Forseva, LLC a Chicago based leading provider of end-to-end, cloud-based credit and collections management solutions. The company will become a part of Equifax Commercial Information Solutions.
This is an interesting development. Equifax’s commercial solutions business has gone nowhere since its inception 20 ago. It suffers from a similar fate of other commercial credit information providers – low growth. In Q4 2014 Equifax’s North American commercial solutions business declined by 3%. This acquisition comes right at the heel of the acquisition of UK based TDX offering end to end risk management solutions.
“The addition of Forseva’s cloud-based platform underscores our commitment to be the leading provider of B2B insights by making it easier for our customers to analyze risk, collaborate across functions and transact business wherever they are,” said Alex Gonzalez, President, Equifax Commercial Information Solutions. “The combination of our deep SMB expertise and advanced analytics with Forseva’s market-leading technology enables us to deliver innovative, integrated solutions more rapidly, and will help our customers grow their business more effectively and profitably across the customer lifecycle.”
“We are very pleased to join the Equifax family,” said Charles Craigmile, President and Chief Executive Officer of Forseva, LLC. “Our combined solution will provide customers with the same product innovation and obsession with customer service they have come to expect from Forseva along with the advantage of the analytical expertise and global reach from Equifax. This is a win-win for customers large and small.”
About: Founded in 2009, Forseva develops cloud-computing applications that improve organizational efficiency and risk assessment by automating credit and collections management and aligning these functions tightly with sales, marketing and customer service. Equifax has been a Forseva reseller for two years through its white label QTC Advantage? solution.
Forseva is built on the energy, creativity, commitment and experience of our people. Led by a team that averages over 20 years of industry experience, we value integrity, passion and humility as core principles upon which we have built our culture. We’ve dedicated ourselves to maintaining a working environment where you can enjoy a challenging career while preserving a healthy balance with your personal life. Forseva develops and implements software applications that improve the quote-to-cash process by automating credit and collections management and aligning these functions tightly with sales, marketing and customer service. This “social enterprise” collaboration model delivers unprecedented business results and operational efficiency.
Source: Equifax Press Release