BURLINGTON, ON -- (MARKET WIRE) -- 4/30/2008 – Cyence International Inc., a multinational provider of enterprise software and IT services to the financial services industry, today announced that Terex Financial Services, the financing arm of US based Terex Corporation (NYSE: TEX), is now live with Cyence’s ExpressOS™ 4.2 software platform and Advanced Hosting Center services.
The implementation of Cyence ExpressOS included the redesign and automation of originations, credit, and operations processes for Terex Financial Services in the US. The project encompassed the automation of documents, a real-time interface to the back-end accounting system, and email alerts, among other productivity enhancing features. Terex Financial Services initially selected ExpressOS™ 4.2 based in part on its ability to handle both North American and global business requirements.

“We set a goal of booking transactions within months of project kickoff,” said Jeff Rentsch, Director of Technology for Terex Financial Services. ”The business knowledge and technical skill that Cyence brought to the project team, as well as the flexibility of the ExpressOS software, were instrumental in this deployment.”  Jeff continued, “We are now positioned to efficiently deliver financial solutions to our customers that best match their needs.”

ExpressOS™ currently supports equipment finance and commercial banking front office operations in multiple countries, currencies and languages, and has recently surpassed an average of $4 billion worth of deals processed per month on the platform. 

“We are very pleased to see Terex Financial Services join the Cyence family, and look forward to being a part of their continued growth,” said Cyence’s President, Greg McIntosh.

About Terex Corporation

Terex Corporation is a diversified global manufacturer with 2007 net sales of approximately $9.1 billion. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries. Terex Financial Services offers a complete line of financial products and services to assist in the acquisition of Terex equipment. More information on Terex can be found at www.terex.com.

About Cyence International

Cyence International provides front-office software, implementation and hosting service solutions for the full Credit Management Lifecycle, including Consumer and Commercial Loan and Lease Origination. The ExpressOS™ software solution facilitates and integrates the vendor/dealer origination, direct sales, origination, underwriting, operations, compliance reporting, and portfolio management processes for top-tier financial companies.  ExpressOS™ delivers Straight-Through-Processing (STP) by implementing data standardization, intelligent workflow, and business rules and fully integrates into existing systems and external data providers. Cyence solutions automate operations anywhere in the world, to increase operational efficiency, grow business volume, reduce risk and increase profitability.  For more information, email info@cyence.com or visit www.cyence.com.