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Dancerace launches eShadow
March 2002

Just when you thought technology was making life easier - things get even better! From the company that first used the Internet for real-time financial information for factoring and discounting clients comes eShadow. Dancerace's commitment to the Internet in 1997 preceded even Microsoft's - who were then still undecided about its commercial viability.

eShadow is an extension of the Internet access product, e3, used by over 30 of the UK's factors and invoice discounters to provide accounting information and data transfer for their clients. It uses an Internet connection and a clever 'wizard' to extract data from companies' sales ledgers to create 'shadow' accounts on the financier's system. By analysing this data and comparing it with previous shadowing 'snapshots', the financier is able to provide secured finance without incurring the operating cost of inputting invoices or allocating cash.

Running the account is as simple as bulk invoice discounting for the factor. However, eShadow provides full ledger and customer information (and therefore the ability to verify debt) and an analysis of the client's sales ledger movement that predicts with virtually 100% accuracy the application of cash. Automatically evaluating risk, eShadow suggests preventative retention of funding to secure the factor's lending where appropriate.

Dancerace plc, winners of the 'Business Systems Provider of the Year 2001' award, developed eShadow following the principles of their 'Virtual Factor' concept. Dancerace's Chairman, Anthony Avison, comments, "Wherever possible, factors try to give their clients the products they want. Everyone wants invoice discounting because it is most similar to overdraft borrowing. eShadow gives invoice discounting simplicity and packaging, with factoring-type security and information. It fills a gap in the market between low end factoring and blue-chip invoice discounting."

eShadow is an ASP product, hosted by Dancerace from their data centre in Bath. For further details visit their website: www.dancerace.com or phone +44 (0)870 777 3033 to speak with their Business Development Director, Fenella Barnard (f.barnard@dancerace.com).