Equifax Grows through Partnership

• By Zacks Equity Research
• On 10:05 am EDT, Thursday October 8, 2009

Vendor and supplier analysis is the new area, Equifax Inc. (NYSE: EFX - News) is currently focusing on. Enterprise supply and Contract management Software Company Emptoris Inc. and Equifax Inc. joined hands to provide more accurate and value added information to businesses about their supplier and vendor spending. As part of this new venture, Equifax Commercial Information Solutions will give clients an insight into the spending pattern, supplier diversity and financial strength of vendors. 

The Spend Analysis and Supplier Risk Analysis software solution from Emptoris will be used with Equifax’s master data management, which contains information about 45 million businesses globally. Any business that uses this technology will get a nine-digit identification number, which can be used by clients to access supplier and vendor information across multiple data sources. 

We believe that in this time of economic and financial uncertainty, this technology will give businesses a better insight into the financial position of their vendors and suppliers, thus facilitating the process of informed decision making. So, Equifax is constantly rolling out new services through joint ventures and partnership programs to snatch additional customers. 

The company recently entered into a partnership with Exchange Solution Inc. (NYSE: ESI - News). As per the terms of the partnership agreement, both the companies will jointly provide solutions to financial institutions to engage in a two way dialogue with their customers and provide customers the opportunity to cross sell their products and enhance their customer service capabilities. By using this new capability, the financial institution can retain customers, offer competitive pricing of products and improve the quality of services, which should lead to greater customer satisfaction. So introduction of new products and solutions through collaboration is a good strategy adopted by Equifax for growth, but competitive pricing remains a key issue for the success of the products and services.

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