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TranDotCom Posts 2009 Growth

In The Know/Tranews

April 2010


Management Focus, Employee Longevity, and Company's Solid Financial Footing Cited as Contributing Factors

While 2009 was a challenging year for most businesses in the technology segment, TranDotCom posted strong sales results for the year. The company recently released data reporting growth both within its existing customer base and from new customers over 2008 levels.

"The year started out slowly; mostly due to overall economic conditions as well as regulatory uncertainty," according to Joseph Fitzpatrick, Founder and CEO. "However, in the third and fourth quarters we witnessed dramatic increases in both transaction volume as well as new sales, particularly with our short-term lending solutions," he continues. Fitzpatrick also attributes the 2009 success to TranDotCom's management team that strategized key market opportunities, its experienced and dedicated employees, and the company's solid financial positioning.

With the rate of new entrants into the market slowing, TranDotCom was well positioned to help both its storefront and internet lenders improve their efficiencies through the breadth of its product line and the integration it offers with its Gold Partners.

"We saw a rise in our call center business in 2009, as well as increased interest in the programs that we integrate with our Gold Partners such as credit bureau, debt recovery, and lead generation and remarketing services," says Andrew Rains EVP Marketing and Sales. "We have the ability to provide full-service packages so our lender clients can focus on their own businesses, and we handle the integration of the various functions for them," he adds.

International expansion also contributed to success in 2009. Having launched its ASP short-term loan product in the United Kingdom early in the year, the company found that its lender clients there are facing favorable market conditions. These lenders have also been receptive to taking advantage of TranDotCom's full range of professional services.

TranDotCom has been supporting lenders since 2000, and one of the hallmarks of its service has been its experienced, knowledgeable employees. These dedicated professionals know the marketplace, can anticipate a customer’s needs, and offer thoughtful solutions.

"Employee retention has been instrumental to our success," maintains Chris Carson, EVP and COO. "We have a seasoned team, with employees averaging 3.8 years of experience with us, which is high in a technology segment," he contends.

As Rains and Carson focus on day-to-day operations and drive the company's recently launched Line of Credit (LOC) product, Fitzpatrick is looking ahead. "With the strides that we made 2009 and the success of our product launches, I am excited about seeking out new strategic opportunities for TranDotCom," he asserts.

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