30 December 2008 (Singapore)

Melioris has been awarded an innovation grant under the Infocomm Enterprises Scheme for our Debts Online Bidding system (DOBS). The Debts Online Bidding System complements and completes the suite of receivables and debts solutions provided under our Asia Debts Xchange (ADX) branding which includes solutions such as ADX-MAR and ADX Collections. ADX-MAR is a first party receivables management solution while ADX Collections is a 3rd party collections management platform.  Both solutions are web-based solutions which are used by multi-national companies to improve collections and reduce Days Sales Outstanding (DSO) and Days Past Due (DPD).

“We are very pleased to have IDA support the development of this Debts Online Bidding System through the innovation grant. The Debts Online Bidding System will help clients to sell their delinquent and distressed debts through an open platform and to obtain the greatest value from these assets through bidding from a large pool of buyers. This is especially critical during these economic downturn and financial turmoil which makes raising capital extremely challenging.   This grant also signifies that Melioris continues to provide innovative and cost-effective solution for the industry and for our clients to meet their working capital needs”.