TechWeb

ARMS Unveils 'Bankruptcy Locator'

May 31, 2011 (04:05 PM EDT)
URL: http://www.techweb.com/show-press-release/X848190/arms-unveils-bankruptcy-locator.html

Latest Credit Management Tool Sifts Through Hundreds of Bankruptcy Filings Weekly and Automates the Matching of Customer Master or Vendor Files Efficiently

NEW YORK, May 31, 2011 /PRNewswire/ -- ARMS (Accounts Receivable Management Solutions), an affiliated company of Information Clearinghouse, Inc., announced this week the launch of its latest credit management tool the "Chapter 11 Daily" Bankruptcy Locator.

The "Chapter 11 Daily" Bankruptcy Locator is a Microsoft Excel-based macro that enhances the efficiency of the "Chapter 11 Daily" publication - which provides users with a time sensitive report of Chapter 11 filings each day. This new macro is available for download and can be maintained right on your desktop. By simply cutting and pasting the company names that you want to monitor, you can systematically match companies of interest against the content of "Chapter 11 Daily" (Chapter 7 data is also available and can be used in conjunction with the locator).  By including an entire Customer Master File, occasional or seasonal accounts can also be recognized that sometimes may go overlooked. In addition, your company's Vendor File may also be included so that a filing by one of your critical suppliers is flagged and alternative sources can be identified quickly. You can also add customer records from subsidiary or affiliated companies where you may not have direct credit responsibility. Once a customized company listing is built, importing the daily filings and identifying potential matches is a quick and easy process.

"With this new macro, it only takes minutes to run the locator against your company records, saving you considerable time and resources investigating on your own or waiting for notification from the Court which can take weeks to get to the credit manager's desk," said Lawrence Sarf, Chief Executive Officer. "Chapter 11 Daily macro users should not expect to find a customer listed each day. In fact, no news is good news, however you can now gain peace of mind when those that you expect could be filing any day have not yet visited the courthouse."

Whether you have 250 or 250,000 customers, you can screen all of them within minutes and feel secure in the knowledge that none of your accounts have filed, and if they have, you are on top of it immediately.  Subscribers can add this enhancement to the "Chapter 11 Daily" features making it easy to see why this publication is a must-have tool for anyone who is concerned with speedy, effective, and efficient reaction to Chapter 11 bankruptcy filings.

Read what everyone's been saying about Chapter 11 Daily:

"A bankruptcy filed today would normally come to my attention about 10 days from now. Chapter 11 Daily is 'right now' kind of information that makes it possible for us to almost immediately put a halt on anything further getting out the door. The Chapter 11 Daily is one of the most valuable tools in the industry!" - Footwear Manufacturer

"We have a large number of customers and the Chapter 11 Daily is helpful in preventing any Chapter 11's from temporary slipping under the radar. Our team has been using the report to review for possible bankruptcies of trade customers in the food industry. It is especially valuable to check for smaller customers that may have filed." - National Food Manufacturer

"Thanks to the Chapter 11 Daily, I was notified immediately that one of my customers filed yesterday. We were getting ready to ship to them and thanks to ARMS we were able to pull back these orders in time." - Footwear Manufacturer

"The Chapter 11 Daily is a vital resource. I view it each morning to see if there are any issues we are not aware of. In this day and age of credit we need information at our fingertips." - Dairy Manufacturer

"I just love the Chapter 11 Daily! It is definitely something I can utilize for my business."  - Health and Beauty Aid Manufacturer

"This interesting and valuable tool keeps me informed on what's happening in the industry and throughout the region. It allows me to add to my pro-activity to prevent loss." - Food Manufacturer  

"This is the icing on the cake!" - Packaged Goods Manufacturer

Market Service Inc. (t/a ARMS), along with sister companies F&D Reports (http://www.fdreports.com) and Creditntell (http://www.creditntell.com), are recognized as the premiere financial consulting services with respect to nearly 20 retail channels of distribution.  For more information on "Chapter 11 Daily" or the Bankruptcy Locator, as well as the many other exciting features in this "must have" Credit Manager's Tool Box, contact Lori Ziegler (loriz@fdreports.com/800.789.0123 ext.148) or visit http://www.FDARMS.com and request a trial password.

Contact:
Lori Ziegler: loriz@fdreports.com / 800.789.0123 ext.148

SOURCE ARMS