The Receivables Exchange Announces Strategic Alliance with Insperity
The Receivables Exchange, the leading online marketplace for U.S. receivables sales, today announced a strategic alliance with Insperity (NYSE: NSP), a leading provider of human resources and business performance solutions for America’s best businesses. This venture will enable The Receivables Exchange’s working capital solution to be offered to small and medium-sized U.S. businesses, including more than 100,000 businesses supported by Insperity. As part of the agreement, Insperity made a capital investment in The Receivables Exchange. Terms of the agreement were not disclosed; however, the investment is not material to Insperity’s 2011 results.
The Receivables Exchange enables companies to sell their receivables to a global network of institutional investors, who participate in a live auction to purchase the receivables at competitive rates. Companies using the service gain access to affordable capital quickly and without the onerous constraints of traditional financing. As a trusted business advisor for more than 25 years, Insperity continues to identify valued-added services and this offering further demonstrates the company’s commitment to helping businesses succeed, especially during an uncertain economy with reduced access to lines of credit. This strategic alliance will benefit both companies and bring a much-needed liquidity solution to more businesses.
“Access to capital is the lifeblood of any business, and we are pleased to be able to offer The Receivables Exchange’s innovative financial solution to our clients and other small and medium-sized businesses,” said Paul J. Sarvadi, Insperity chairman and chief executive officer. “This joint venture complements our comprehensive array of human resources and business performance solutions designed to help companies run better, grow faster and make more money.”
“This joint strategic initiative with Insperity enables us to help even more businesses access the capital they need,” said The Receivables Exchange’s Co-Founders Justin Brownhill, chief executive officer, and Nic Perkin, president. “Insperity and The Receivables Exchange are both committed to providing innovative solutions to enhance business performance, so it is a natural fit. Together we can help businesses take control of their working capital and achieve their growth objectives.”
About Insperity
Insperity, a trusted advisor to America’s best businesses for more than 25 years, provides an array of human resources and business solutions designed to help improve business performance. InsperityTM Business Performance Advisors offer the most comprehensive Workforce OptimizationTM solution in the marketplace that delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity. Additional offerings include MidMarket SolutionsTM, Performance Management, Expense Management, Time and Attendance, Organizational Planning, Recruiting Services, Employment Screening, Retirement Services, Insurance Services and Technology Services. Insperity business performance solutions support more than 100,000 businesses with over 2 million employees. With 2010 revenues in excess of $1.7 billion, Insperity operates in 56 offices throughout the United States. For more information, visit www.insperity.com.
