ST. PETERSBURG, Fla., May 11, 2005-First Advantage Corporation (NASDAQ: FADV), a leading risk mitigation and business solutions provider, today announced that its subsidiary, CompuNet Credit Services, has consolidated credit information from the major credit bureaus into its transportation-specific credit reports. The CompuNet credit report will now offer two general business credit scores, providing customers with the most comprehensive source of credit information available in the transportation industry.
“By working with both Dun & Bradstreet and Experian, we have created a unique opportunity for our customers,” said Billie Lee, president of First Advantage’s Transportation Services division. “The transportation industry can now come to one resource to obtain a comprehensive credit report on cargo shippers and brokers.”
According to Lee, the added information creates a ‘360-degree view’ of a company’s payment habits, which helps protect carriers from the risk of bad debt.
“The added business scores provide indication of a company’s historical payment habits based upon reported trade experiences,” said Lee. “Similar to the transportation-specific freight payment histories already provided on the CompuNet credit report, the additional information will give trucking companies essential data on all trade lines.”
CompuNet surveyed their subscribers about what additional information customers wanted to see on the CompuNet credit report and over 75 percent responded they required more general business credit information. “Compunet’s dual-score credit report is designed to assist an industry that has been challenged with keeping its account receivables current,” said Lee. “Our enhanced reporting helps our trucking clients make more informed decisions by understanding their client’s payment history; therefore, reducing the risks surrounding credit granting.”
About CompuNet Credit Services
Acquired by First Advantage in November 2004, CompuNet Credit supplies the majority of the nation’s leading truckload carriers with freight payment-specific credit information, including credit references, cross-referencing and public information. CompuNet Credit provides the most reliable and verifiable transportation credit information available in the industry. For more information, visit www.compunetcredit.com.
About First Advantage Corporation
First Advantage Corporation (NASDAQ: FADV) provides best in class, single-source risk mitigation and business process solutions for enterprise clients and consumers. Incorporating state-of-the-art technology, proprietary systems and data resources, First Advantage is a leading provider of employment background screening, drug-free workplace programs and other occupational health testing, corporate tax consulting services, resident screening, motor vehicle records, transportation credit reporting, investigative services (including computer forensics, data recovery, electronic discovery, and surveillance), supply chain security consulting, and consumer location services. First Advantage ranks among the top three companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has nearly 2,200 employees in offices throughout the United States and abroad. Further information about the company is available at www.fadv.com.