The Pet Industry Distributors Association (PIDA) has partnered with Inet Credit Exchange (ICE) to create an industry exchange to help members make faster and more accurate decisions when extending credit to independent pet stores.
ICE has a track record of reducing bad debt within an industry. It serves as a repository of accounts receivable data that is aggregated to evaluate credit risk, and members retain complete ownership of the data while being able to pull credit reports online.
“Our Board of Directors is intrigued by the opportunity for our members to come together on yet another value-added service that will provide distributors the appropriate tools to monitor and extend credit to their customers and a higher level of visibility to manage patterns of risk,” said Scott Rath, vice president of Central Pet and PIDA board chair.
Fifteen PIDA members have expressed interest in joining the credit exchange. The organization is in the process of collecting data from those members, and the credit exchange is expected to be available to credit personnel by mid-year.
To be included, contact Lawrence Andre at email@example.com.