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FOR GENERAL RELEASE
Media Inquiries:
John LaRocca
CreditPointe, Inc.
480-239-7375 |
General Inquiries:
Jim DeWaele
CreditPointe, Inc.
781-493-6923 |
Credit Industry Veterans Launch Company To Provide Credit
Analysis Services
CreditPointe to address the growing need for timely, thorough
and cost-effective analysis of credit risk around the globe
through in-depth credit risk analysis products and client-specific
services
February 7, 2006 - Westwood, MA - An experienced
team of credit industry veterans led by Dr. Venkat Srinivasan
launched CreditPointe Inc., to address the growing need
to provide corporations and financial institutions with
timely, cost effective, thorough business credit risk analysis
services on companies around the globe. CreditPointe intends
to provide a set of credit analysis products and services
that comprehensively address the issues of timely analysis,
resource availability within the enterprise, regulatory
compliance, e.g., Sarbanes-Oxley requirements in the U.S.,
and information availability.
CreditPointe has been founded by Dr. Venkat Srinivasan,
who will serve as the company's Chief Executive Officer.
Venkat was the founder and CEO of eCredit.com, a leading
provider of credit, financing, and receivable management
solutions for the business enterprise. Venkat is an internationally
recognized expert in credit risk management and has pioneered
the innovation of knowledge-based decision support technology
for credit risk analysis. His research on credit related
topics has appeared in a number of prestigious academic
and practitioner journals.
Dr. Srinivasan will be joined by a highly experienced team
that has significant exposure to the credit industry. Joining
Venkat in this endeavor is John LaRocca, CreditPointe's
Senior Vice President, Marketing and Business Development.
John is an accomplished executive with decades of experience
in various leadership positions in the credit industry.
John is currently a founding partner at Quote To Cash Solutions,
a firm dedicated to providing solutions to help corporations
improve their quote to cash business processes. Previously
John was a Senior Vice President for De Lage Landen Financial
Services proceeded by 22 years with Hewlett-Packard in global
credit, leasing and sales management positions.
"CreditPointe has been founded to provide Corporations
around the world with best-in-class credit analysis products
and services on a cost-effective basis. We see a significant
opportunity to provide a complete range of outsourced credit
risk management services to our clients by leveraging our
highly skilled analyst teams, the information and preferences
of our clients and at their direction from third party information
providers, the insight we develop from our independent analysis,
and our proprietary knowledge-based technology. We hope
to dramatically reduce the cost of credit management for
our clients. In addition, working in collaboration with
our information partners, CreditPointe will be issuing detailed
credit risk reports on public and private companies around
the world. We have a robust analyst group that is focusing
on unsecured credit risk and is developing insights and
models of credit risk on an industry by industry basis,"
said Dr. Srinivasan.
CreditPointe is focused to form partnerships with industry
leading providers of information and technology solutions
to effectively distribute its products and services. "We
are not a software company. Rather we seek to use the technology/data
that our clients have at their disposal and complement it
with our expertise, data, technology and analysis, to perform
our services. Our goal is to become a valued partner to
a company's internal credit organization by helping them
optimize orders while managing risk," said John LaRocca.
CreditPointe hopes to alleviate the resource pressure that
most credit groups face internally to adequately analyze
credit risk at the individual account and portfolio level.
"Most companies that I have seen have inadequate resources
to monitor credit risk on their entire portfolio. The credit
team often has ideas on how to add value through their insight
but is frustrated at their inability to not even be able
to conduct basic credit risk analysis on a timely basis.
The result is that the credit team is usually left dealing
with fires after the fact. This also exacerbates the perception
that they are not strategic. CreditPointe addresses this
issue comprehensively," added Dr. Srinivasan.
About CreditPointe, Inc.
CreditPointe, Inc. is a private company specializing in
providing analytical products and services on global public
companies. An experienced team of industry veterans led
by Dr. Venkat Srinivasan launched CreditPointe Inc. to address
the growing need to provide corporations and financial institutions
with timely, cost effective analytical products and services
on companies around the globe. CreditPointe is a subsidiary
of Rage Holdings, LLC, a business incubator focused on incubating
capital efficient, process-aware businesses. To learn more
about CreditPointe, visit www.creditpointe.com.
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