FeeSynergy, leading fintech company specialising in debtor management software, has a strategic partnership with Equifax, a global data, analytics, and technology company, in order to provide accounting and legal firms with better tools to assess client risk. The partnership aims to help these firms gain greater visibility into a client’s credit risk and ability to pay, which will help reduce time spent chasing potential future slow paying or bad debtors and ensure optimal cash flow.
The partnership sees FeeSynergy’s flagship Collect Debtor Management platform integrated with Equifax’s credit scoring technology. The platform, which is used by hundreds of leading firms in Australia and New Zealand, provides integrated debtor management, engagement letter, payments (card and direct debit), and fee finance solutions. With this integration, clients of FeeSynergy’s Collect platform have access to Equifax’s business credit scores and credit reports as part of their risk assessment process. This helps them make informed decisions about a client’s creditworthiness and ability to pay, reducing the risk of late payments or bad debts.
Furthermore, the partnership helps FeeSynergy clients identify business advisory opportunities within their client base. By providing them with valuable insights, accounting and legal firms are able to better manage risk and enhance client engagement. According to Malcolm Ebb, Managing Director of FeeSynergy, the partnership with Equifax is groundbreaking and has produced some incredible results. He boasts that their product provides accounting and legal clients with valuable insights (well beyond the what the clients Accounting General Ledger provides the firm), enabling them to better manage risk and enhance client engagement.
In the current economic climate, managing the credit risk of customers and suppliers is crucial. Scott Mason, General Manager Commercial and Property Solutions at Equifax, believes that understanding a client’s risk and ability to pay can help better protect cash flows. Mason also adds that their partnership with FeeSynergy enables the accounting and legal sector to access a more complete picture of prospective and existing clients so that they can make informed decisions when it comes to credit risk and client engagement.
In summary, the partnership between FeeSynergy and Equifax provides accounting and legal firms with better tools to assess client risk, reduce time spent chasing bad debtors, ensure cash flow, and identify business advisory opportunities within their client base. This integration of Equifax’s credit scoring technology into FeeSynergy’s Collect platform enhances its client risk management and reporting capabilities, providing more accurate and complete information to clients.
For more information contact hello@feesynergy.com.au
About FeeSynergy
FeeSynergy is Australasia’s leading provider of integrated Debtor Management, Engagement, Payments and Fee Finance solutions to the accounting and legal industries. Our flagship FeeSynergy Collect platform is used by hundreds of firms to automate cash collection processes, issue engagement letters, process online card payments and provide direct debit and monthly instalment facilities. The unique integration with Equifax credit scoring technology further enhances FeeSynergy Collect’s client risk management and reporting capabilities. For more information, visit www.feesynergy.com.au or follow the company’s news on LinkedIn.
About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employees, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drive insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit www.equifax.com.au or follow the company’s news on LinkedIn.
