IDEA/eCredit To Provide Credit-Reporting Database

eCredit, Dedham, Mass., a provider of online solutions for credit and collections professionals, has entered into a strategic alliance with the Industry Data Exchange Association (IDEA), Rosslyn, Va. According to the terms of the agreement, eCredit will host, maintain and support an industry specific credit-reporting database for IDEA customers. In turn, IDEA will leverage its ability to create standards for credit data exchange helping to drive down costs through the sharing of business information within a secure eCredit data network.

"Clearly, this partnership with eCredit will provide a high level of value for our customers," said Tim Powers, chairman of IDEA; and president, CEO and chairman of Hubbell Inc. "By aligning with a value-added service provider that will host and maintain the receivables data, eCredit allows IDEA to remain focused on its core mission of creating standards and tools that enable commerce to flow more quickly: driving down cycle times, improving the order-to-cash process and ultimately bolstering customer satisfaction."

eCredit and IDEA have also entered into a software referral agreement. This agreement will provide discounts to those IDEA customers in the electrical distribution and manufacturing industries who use credit and collections management software from eCredit.