PFSweb, Inc, a provider of business process outsourcing solutions for traditional and e-commerce strategies, has renewed its senior financing facilities with IBM Credit LLC ($27.5 million) and IBM Belgium Financial Services (Ä12.5 million or USD $16 million) through March, 2006. In addition, the company renewed its Ä7.5 million (USD $9.6 million) factoring agreement with Fortis Commercial Finance NV through March 2006.
ìThrough our wholly-owned subsidiary, Supplies Distributors, Inc., IBM finances PFSwebís purchase of IBM inventory and certain receivables applicable to our existing IBM master distributor agreements in North America and Europe,î explained Tom Madden, Senior Partner and CFO of PFSweb. ìOur long-standing relationship with the IBM Corporation, our broad service offering to its customers and PFSwebís growing role in the evolution of outsourcing were all integral to the successful extension of these lines of credit,î Madden emphasized.
ìWe believe the financing services that Supplies Distributors offers complements PFSwebís suite of supply chain solutions and is a key differentiator in the overall PFSweb service offering,î Madden added.
PFSwebís comprehensive outsourcing solutions provide proven, fast and secure business infrastructure to enable traditional and e-commerce strategies. PFSweb solutions include:
professional consulting services, e-marketplace logistics, order management, web-enabled customer contact centers, customer relationship management, international distribution and fulfillment services, reverse logistics, billing and collection services, kitting and assembly services and ERP information interfacing utilizing its Entente SuiteSM.
PFSWeb Renews $50 Million in Credit Facilities
PFSweb has renewed its senior financing facilities
