Merisel introduces industry's first instant credit offering; reduces new customer set-up time to as little as one hour

Business Wire, March 13, 1996

EL SEGUNDO, Calif.--(BUSINESS WIRE)--March 13, 1996--Merisel Wednesday announced a new Instant Credit offering which will substantially reduce the time needed to set up a new customer account and place an order from 48 hours to as little as one hour.

In conjunction with Instant Credit, Merisel has instituted a new financial support program featuring what the company is calling "Personal Banker" services. Resellers in Merisel's Vantage Program qualify to receive dedicated Financial Service representatives (Personal Bankers), who are assigned to specific accounts and territories to provide customized financial options based on the resellers' business models and financial needs.

With instant credit, Merisel Sales representatives now have the ability to evaluate a new customer's Dun & Bradstreet credit information at their desktop, allowing resellers to place an order on their very first call into the company. Based on review of a new reseller's selected credit information, Merisel Sales representatives will grant instant credit of up to $2,000 and release the customers first order, on terms, within one hour (pending the receipt of a resale tax certificate). For resellers that are not listed with Dun & Bradstreet, Merisel will utilize an on-line system to evaluate a reseller's credit worthiness based on current and past payment history with other wholesalers. This instant credit program makes Merisel the first wholesale distributor to mirror the new easy account set-up philosophy of major retail department stores.

"We have a company-wide focus on making Merisel easier to do business with," said President and Chief Operating Officer Ron Rittenmeyer. "Knowing that time is critical for VARs, we reduced the time it takes to set up a new account and place an order. We also implemented a Personal Banker approach to more precisely meet our VARs' individual needs and afford them opportunities they may not have been aware of. We believe our customers will be very impressed when they experience the efficiencies resulting from changes to our phone system, reorganization of our sales force and direct access to critical information at our sales rep's desktop. We want to be known for our responsiveness, which our customers tell us is the most important factor when choosing a distributor."

"In the past, wholesalers had to be extremely cautious in measuring a reseller's creditworthiness and proof of resale status," said Merisel Vice President of Sales and Operations Dino Farfante. "With new technology, we have been able to take advantage of broader access into Dun & Bradstreet's credit resources, allowing us to improve service levels while ensuring prevention of bad debt."

Merisel has also initiated an aggressive VAR recruitment effort and formed a new Business Development team to expand its reseller base. Both efforts are critical to the company's focus on expediting the sign-up and development of new accounts. VARs interested in working with Merisel can now avoid pre-recorded messages for new account set-up and simply dial 1-800-MERISEL weekdays from 8:30 a.m. to 9 p.m. EST to instantly receive direct access to a Sales representative.

"Signing a new customer, building a relationship and growing that reseller's business are very different tasks," added Farfante. "We have a new Business Development team in place to nurture new customers and gain an understanding of their businesses so that Merisel can best meet their needs. We believe our recruitment effort will not only reap growth in new customer accounts, but will also help us to increase our current VAR's purchasing levels."

Merisel Inc. (NASDAQ:MSEL) is a worldwide leader in the distribution of computer hardware and software products. The company holds Fortune 500 status, with 1995 expected sales of $6 billion. Merisel distributes a full line of 25,000 products to more than 60,000 resellers worldwide, including more than 750 ComputerLand franchisees and Datago affiliates. Merisel operates nine international subsidiaries, 31 sales offices and 19 distribution centers serving the United States, Canada, Latin America and Europe. The company offers extensive support services including training, marketing, technical support, configuration, merchandising, telemarketing, information services and third-party financing.

CONTACT: Merisel, El Segundo

Cathy Sperrazzo, 310/615-1230