GE Business Credit Services Provides Account Receivables Outsourcing; Businesses Can Improve Cash Flow and Streamline Their Commercial 'Trade Credit' Program

JACKSONVILLE, Fla.--Jan. 8, 2004--Accounts receivables certainly impact a company's cash flow and working capital needs. In the past, many factoring companies have concentrated on individual invoice factoring instead of providing a broader accounts receivable factoring solution.

Finding an organization that specializes in business process outsourcing (BPO) has become critical. "We find that many businesses are ready for a more comprehensive approach to accounts receivables management," said Chris Little, vice president and general manager of GE Business Credit Services. "We manage all aspects of commercial open account trade credit functions, and we do more than just reduce costs. Credit management is always a key part of our programs."

Little said GE Business Credit Services' integrated and customized solutions are structured so that all invoice, billing and customer service functions are performed under the client's brand. "We operate as an extension of our client's business, helping them increase commercial sales through credit marketing, building customer loyalty, enhancing brand value, reducing back office expenses, enhancing cash flow and improving credit servicing processes," added Little.

Based in Jacksonville, Fla., GE Business Credit Services is the commercial unit of GE Consumer Finance. The company provides business-to-business trade receivables management solutions, including private label credit programs, account receivable financing and inventory financing for national and regional clients. More information can be found online at www.gebcs.com.

About GE and GE Business Credit Services

GE Business Credit Services, based in Jacksonville, Fla., is the commercial unit of GE Consumer Finance. The company provides receivables management programs and marketing solutions in the business-to-business arena that support the distribution of product throughout the supply chain. Its solutions include Business Process Outsourcing (BPO) of open account trade credit, private label revolving credit programs, receivables financing and inventory financing for national and regional clients. More information can be found online a www.gebcs.com. GE Consumer Finance, a unit of General Electric Company, with more than $95 billion in assets, is a leading provider of credit services to consumers, retailers and auto dealers in 37 countries around the world. GE Consumer Finance, based in Stamford, Conn. (USA), offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.geconsumerfinance.com. GE is a diversified services, technology and manufacturing company with operations worldwide. More information about GE can be found online at www.ge.com.