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Finatus Aims to Cut Environmental Compliance Costs for Printing Industry

Tuesday, October 30, 2001

Press release from the issuing company

PORTLAND, Ore.--Oct. 29, 2001-- Finatus Inc. launches a suite of subscription-based online services customized to simplify and cut costs of environmental, health and safety compliance for small businesses in the printing industry. The company initially has launched its services in Oregon, with plans to expand into additional geographical markets in March 2002. Finatus drills deeply into the industry's daily operations, developing information, step-by-step online wizards and tools to ensure that small and medium-sized businesses (SMBs) can comply with all applicable federal, state and local regulations. "With Finatus, you don't need to spend a lot of time and money, or hire a regulatory safety expert to comply. You simply follow a series of steps and processes at your own pace and schedule, and we walk you through the process from beginning to end,'' said Prabhakar Tadepalli, Finatus CEO. While Finatus developed the core technology and compliance expertise while industry channel partners helped refine the solution for nuances specific to the industry. Industry-specific processes were identified by the Graphics Arts Technical Foundation (GATF) and Pacific Printing and Imaging Association (PPI). Chemical distributors were sources for material handling and safety, and are working with Finatus to provide its offering as a value-added service to their customers. "GATF, PPI and the distributors are the experts. Their knowledge of day-to-day processes was invaluable in making the Finatus solution comprehensive,'' said Tadepalli. Finatus online services, offered as a $1,500 annual subscription, enables SMBs to comply with all environmental, health and safety regulations without investing heavily in regulatory specialists. "Finatus has the potential to change regulatory compliance for small business in the same way QuickBooks and TurboTax changed small business accounting,'' said Dr. John Collins, Finatus Chief Science Officer. "It's a great example of a technology providing a simple, streamlined solution to an extremely cumbersome task.'' Although Finatus is an emerging company, it has a notable board of directors and advisors including former Oregon Governor and U.S. Dept. of Transportation Secretary Neil Goldschmidt. Currently the firm's customers remain confidential. However, Tadepalli noted that Finatus' market entry has gone exceptionally well. "Our customers range from industry leaders to businesses with real concerns about their level of compliance. In each case, we've confirmed that Finatus cost-effectively and comprehensively clears the regulatory clutter,'' Tadepalli added. Finatus also has been well received by the regulatory community. "The Office of the Fire Marshall is very interested in industry advances that improve business' ability to make required submissions of chemical purchase and use,'' said Bob Albers, Program Manager for the Office of the Oregon State Fire Marshall's Community Right to Know program. "I've been extremely impressed with how easy Finatus makes it for small businesses to comply with our reporting requirements.'' Finatus plans to maintain its focus on Oregon through the year, with direct mailings and special offers to GATF and PPI members. For more information, call 503/242-1900, ext. no. 7, or visit www.finatus.com. Portland, OR-based Finatus, Inc. is a leader in providing comprehensive, vertical-market online services that enable small and medium-sized businesses to simply and cost-effectively comply with environmental, health and safety regulation.




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