ST PETERSBURG, FL., Nov. 7--Cyence International, a provider of front-office software for businesses in banking, manufacturing and equipment finance, announced plans to spin off its ExpressCS and Global Credit Services divisions before the end of 2005 to form a new organization exclusively dedicated to small and mid-size companies, according to Cyence President Greg McIntosh.
While Cyence will retain a significant interest in the new company, its focal point will be on fostering considerable growth on its ExpressOS platform. "This initiative enables Cyence to sharpen its strategic focus," says McIntosh. "By concentrating on our growing ExpressOS customer base and increasing support for existing ExpressOS customers, Cyence is better positioned to respond to the increasing demand for front-office integration and automation software."
Operationally, the spin-off will offer ExpressOS customers a dedicated resource pool, enhanced customer service, and an overall increase in value. "ExpressOS has evolved significantly and our customers require more focus," says McIntosh, noting that ExpressOS is now processing more than $1 billion in financial transactions each month.