Equipment Street, through a new partnership with Cortera Inc., will now provide its equipment marketplace with business credit risk management solutions. After completing an extensive assessment of the current credit analytics providers, Cortera was selected due to their highly comprehensive and user friendly offerings. Equipment Street chose Cortera as their preferred provider of credit information on businesses and corporations, to deliver on one of the most important goals for the site; enabling trusted buyers to purchase the commercial equipment they need to grow their business from trusted sellers.
Cortera's risk management solutions harness data from thousands of sources to generate analytics that provide insights into companies' purchase trends, payment behavior, major events and a wide range of other characteristics that shape their risk profiles. By providing Equipment Street buyers and sellers with real time credit intelligence, both parties can make better educated partnering decisions. Registered sellers can instantly evaluate buyers to better determine the type of selling terms to offer. Many equipment sellers have limited access to risk information. This integrated credit reporting capability will assist them in mitigating non-payment risk, protecting their companies from potential losses or possibly negative impacts to their cash flow.
The buyer community can also use these leading credit assessment tools to immediately evaluate the stability of potential sellers. By having instant access to critical business risk insights, buyers can select sellers that they view as long term viable entities. Many equipment categories offered on the site require on-going seller support which could include; equipment maintenance, supplies and performance monitoring. Without the seller to stand by the initial equipment sale, buyers can jeopardize their equipment investments and potentially put their businesses at financial risk. The new Cortera offering will assist buyers in making smarter seller selection decisions that will help make their businesses be safer and more secure.
John Tusa, Senior Vice President of Sales at Cortera states, "We see this partnership as an innovative way to provide the business community with the credit risk solutions they need to make better and sounder decisions about how and who they choose to do business with. Sometimes these credit assessment tools are only available to the financial side of the business. Now, by integrating our credit reports directly into the procurement process, Equipment Street is bringing this type of data to the resources making the day to day critical choices that could negatively impact the long term financial condition of a company. We designed the risk analytics so users can quickly and easily get the relevant information they need. The data is presented in a format that makes it accessible to almost anyone in the organization; you don't need to be a financial professional to get real value from the available tools. We at Cortera are looking forward to adding value to this marketplace by helping companies make more educated partnering decisions and reduce the potential risks associated with acquiring equipment."
In the near future, buyers and sellers will have access to a Basic Reporting Package which provides company profile information. This business overview report will be available to registered members at no cost. For members that require more detailed credit information, the Premium Reporting Package will provide users with the ability to purchase highly detailed credit intelligence, such as, bankruptcy history, filed liens, payment performance, industry trends, purchase behavior and much more.
Equipment Street is dedicated to changing the way businesses buy and sell equipment. Visitors receive support across a broad range of equipment categories including: theft prevention, office technology, food service, telecom, automotive, light industrial among others. The site offers access to a comprehensive equipment procurement solution that enables business owners to post needs, research sellers, evaluate bids, and select the best products at the best prices. Equipment Street Finance offers instant access to capital through a variety of lending solutions, to facilitate the purchasing process, for companies that are faced with cash flow challenges.
Equipment Street is headquartered in Ponte Vedra Beach, Florida. The company is dedicated to delivering the preferred digital equipment marketplace where buyer and sellers of equipment can network and form mutually rewarding business relationships. Equipment Street also provides a variety of financing options to assist buyers and sellers of equipment obtain the capital they need to meet their equipment goals.