The Receivables Exchange Names Leading Marketing and Sales Strategist to Advisory Board
NEW ORLEANS-(Business Wire)-September 22, 2009 - The Receivables Exchange, the world’s first online marketplace for real-time trading of accounts receivable, today announced that Dan Springer, CEO of Responsys, Inc., a premier provider of email and cross-channel marketing solutions, has joined the company’s Advisory Board. Springer is a nationally recognized leader in performance marketing and strategic sales, with more than two decades of experience building successful marketing programs at innovative companies and agencies, including McKinsey & Company, Modem Media, NextCard and Telleo, Inc.
“Dan’s breadth and depth of experience in marketing, e-commerce, finance and management consulting makes him a perfect addition to the Advisory Board as we continue to introduce our innovative working capital solution to America’s small and midsize businesses,” said Justin Brownhill, co-founder and chief executive officer of The Receivables Exchange. “His talents in strategic marketing and driving growth and innovation in the online marketplace will be invaluable in helping us to maximize our reach to the millions of companies in search of working capital.”
Springer has a proven track record leading innovative online companies for more than two decades. As CEO and a Member of the Board of Directors of Responsys since April 2004, he has led the company to significant growth while solidifying its position as one of the leading email marketing service providers in the world. Previously, he was Managing Director of Modem Media, a preeminent interactive agency known for bringing technology and advertising together to revolutionize the online advertising marketplace. Prior to Modem Media, Springer was CEO of Telleo, Inc. and Chief Marketing Officer of NextCard, one of the first issuers of credit cards online.
“The Receivables Exchange brings much-needed innovation to small and mid-cap business financing to help companies overcome one of the most consistent and greatest business challenges: improving cash flow,” said Mr. Springer. “The Exchange is one of the most revolutionary companies in the business-to-business marketplace. I look forward to helping them continue to increase awareness and drive high-volume customer acquisition as they further penetrate the market.”
Springer received a Bachelor of Arts in mathematics and economics from Occidental College and a Master of Business Administration from Harvard University. He has served as a board member of public and private companies, including E-LOAN (Banco Popular) ITI and eGroups (Yahoo!) as well as for numerous not-for-profit organizations including Shop.org, AdTech, The Randall Museum and The San Francisco Friends School.
For most companies, accounts receivable represent their greatest source of working capital, with more than 60% tied up in outstanding invoices. The Receivables Exchange connects Buyers and Sellers in a real-time auction marketplace to buy and sell receivables. By selling their receivables in an open and competitive marketplace, Sellers are able to reduce their cash conversion cycles, gain access to competitively priced capital and reinvest that cash into growing their business. Buyers gain access to a new investable asset class with attractive risk-adjusted returns and the opportunity to invest in the growth of the nation’s thriving small and mid-sized businesses. Learn more about how to improve cash flow and finance accounts receivables.
About The Receivables Exchange
The Receivables Exchange (www.receivablesXchange.com) is the world’s first online marketplace for real-time trading of accounts receivable. The Receivables Exchange is changing the landscape of small business financing by providing a new dimension in working capital management. The Exchange connects a global network of accredited institutional investors (Buyers) to the nation’s millions of small and mid-sized businesses (Sellers) in search of capital to grow. Buyers get direct access to an $18 trillion new investable asset; Sellers gain access to a new competitive working capital management solution by having their receivables bid on in real-time by multiple Buyers.
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