Arbinet-thexchange Introduces RapidClearSM Accelerated Settlement Service
New Brunswick, NJ – October 14, 2003 – Arbinet-thexchange, the full-service trading solution for buyers and sellers of voice minutes, announced today the introduction of RapidClearSM, the accelerated settlement service that allows Members to collect receivable payments within as little as two business days. With RapidClearSM, Members collect payment much sooner than the industry-average 45 days sales outstanding (DSO), shrinking working capital requirements and freeing cash to grow their businesses. RapidClearSM enables carriers to improve financial liquidity with:
Centralized minutes clearing
Secured receivables collection
Two fast payment options:
7-day billing cycle with 2-day payment
15-day billing cycle with 3-day payment
No monthly revenue minimum
Fast electronic payment
“By leveraging thexchange’s expedited settlement process and secured collection of revenues, our Members have an unprecedented opportunity to free up capital and accelerate business growth, ” says J. Curt Hockemeier, President and CEO of Arbinet-thexchange. “These financially stronger Members should in turn enhance thexchange liquidity.”
This service, backed by thexchange’s 5-part credit management program with the CreditWatchSM monitoring system, provides Members with a streamlined, secure, and efficient marketplace for voice minutes transactions. RapidClearSM is one of a series of value added services that makes thexchange a powerful financial partner to its Member carriers.
Two processes central to all telecom companies are selling access to their networks and routing calls off their networks to destinations worldwide. Arbinet-thexchange has created the liquid market and designed and built the world’s most advanced routing system to automate anonymous minutes trading between telecom companies. More than 275 Members, including 12 of the 15 largest international telecom carriers, use thexchange to reduce their cost of service, improve route quality and expand revenues by reaching new markets without extensive network build out.
A Member inputs trade parameters and the system automates sales and purchase order execution, complex calling code matching, call routing to specific breakout destinations and manages the quality of service of traded capacity. The system also handles the credit risk management, billing and commercial settlement aspects of these transactions.
Arbinet-thexchange also distributes spot market transaction data that provides carriers with reliable pricing, quality and routing information for use in planning and negotiations. These products include: AXCESSCODEsm international calling code breakouts and AXCESSRATEsm spot market price and quality data.