Utility Management Association

Utility Management Association, A Leading Factoring Company Provides $8 Million Invoice

2008-06-12T09:57:26Z

Utility Management Association, A Leading Factoring Company Provides $8 Million Invoice

New York, NY (PRWEB) June 4, 2008 -- The premier factoring company, Platinum Funding Group, has signed a two-year, $8.4 million invoice factoring agreement with a maintenance contractor servicing utility companies. The maintenance and utility company entering into the accounts receivable financing agreement is a 100% minority-owned business located in Savannah, Georgia. It provides medium and high voltage underground and overhead cable to the maintenance and utilities industry.

A factoring company with over 16 years of factoring success, Platinum Funding Group negotiated an Inter-creditor Agreement with the current lender, Georgia-based Darby Bank, which will continue financing the term debt. This customized invoice factoring agreement was the key to completing the transaction. The client owed Darby Bank $1.5 million, including an $835,000 revolving account with progress billings and a term loan. Darby Bank demonstrated exceptional cooperation and professionalism in working with Platinum, a leader among factoring companies, to arrange a pay down and payment structure program on the remaining balance.

"This invoice factoring transaction is remarkable because we were able to overcome many obstacles -- losses, progress billings, some very slow paying debtors and a significant debt facility with a bank," commented Bob Hinson, Senior Vice President of Business Development, at Platinum Funding Group. "In my 25 years in the business, I have never seen a bank work so well with a factoring company. Platinum and Derby Bank worked out a tri-party agreement and Platinum funded the client all in 7 business days."

"Platinum Funding Group provided solutions to our cash flow issues," said Walter Ward, Senior Vice President of the maintenance company. "Their experience and ability to relate to the business growth needs of our industry, proved invaluable. We are very satisfied and look forward to a long partnership."

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Utility Management Association, Teletrol Updates eBuilding Energy Management Solution

2008-06-12T09:52:36Z

Utility Management Association, Teletrol Updates eBuilding Energy Management Solution

Manchester, NH (PRWEB) June 4, 2008 -- Teletrol Systems Inc. today announced that the newest version of its eBuilding energy management solution is now available. Comprised of dedicated hardware and break-through software, the integrated suite now offers the industry's most powerful standards-based energy management solution available. The newest version of eBuilding is designed to seamlessly integrate with the latest building automation standards and commercial information technology (IT) standards. The result is a system that is proven to lower energy costs, increase the efficiency of site operations, and improve facility monitoring capabilities.

Already established as a reliable multi-site energy management solution for building and facilities managers around the world, Teletrol's systems are being used in thousands of locations. Commercial campuses and multi-site retailers use eBuilding to remotely control multiple facets of building facilities, including: lighting, HVAC, and remote diagnostics. By reducing energy use across multiple locations, organizations can save over 20% on their energy spending. Combined with eBuilding's native XML and HTTP support, eBuilding is a complete, integrated set of system components, including network level controllers, programmable and preprogrammed unitary controllers, a modular I/O system, and a fully integrated set of configuration and user interface software.

eBuilding 5.0 has over 20 new features and improvements, including:

* New Notes control - allowing building operators to enter, edit, and display free form text on any Facility page in the system

* New notifications, alarms, messaging, calendars and schedules - expanding communications capabilities

* New controller hardware - increasing system performance

* New visual editor capabilities - giving building operators better control over energy management components

* Updated software components and infrastructure, including Java, MySQL, Tomcat, and Apache - enhancing performance, reliability, and system security

* Improved and expanded interoperability with other BACnet enabled devices - increasing control over energy management assets

* Improved database indexing scheme - offering enhanced performance

Andy McMillan, CEO of Teletrol Systems Inc. said, "eBuilding 5.0 is a major step forward in energy management systems. We realized a long time ago that many products in the market would be web-enabled, but few would be fully Internet enabled. Improvements in standards-based technology and the rapid increase of investments in networking infrastructure have given us a clear picture of where our technology can offer the most value to our customers - and we factored that into the current release."

McMillan added, "We have also considered the many challenges facing building operators today - from soaring energy costs to the pressure to improve operational efficiencies - and believe that the investment in an energy management system will help address these challenges."