The US’s largest provider of factoring services, CIT Commercial Services, has announced that it will form a strategic alliance with Cyber Merchants Exchange. The avowed mission of Cyber Merchants Exchange is to use its web-based software to create a global business-to-business e-commerce solution that streamlines the way retailers locate viable merchandise sources.
The alliance will focus upon the integration of CIT’s factoring services with C-ME.com’s global sourcing business for the retail industry.
The aims of the participants dovetail to form an expanded service package: CME.com sign up vendors to provide retail buyers with access to the international marketplace and CIT will provide the financial platform for participants in CME.com’s transactions.
CIT’s president, John F. Daly said “CIT and C-ME.com have remarkably complementary services that together have the capability to revolutionize the process of global sourcing and purchasing.”
