Equifax 2003 Annual Report Download - page 12

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“Equifax continues to grow, excel and inno-
vate, achieving notable increases in volume,
market share and cash flow from operating
activities, as w ell as attaining significant
cost savings.”
EQUIFAX. INFORMATION THAT EMPOWERS. 9
customers. For example, with InterConnect, an Equifax customer who wants to extend credit
to a consumer will be able to simultaneously process the application, gather information, reach
a decision and open the account – all in the blink of an eye, all at the point of sale, all when the
consumer is ready to buy, and with less risk to our customer. InterConnect meets these needs
regardless of the data source or system application a customer prefers, creating an exceptionally
broad market for this solution.
Small business is another expanding opportunity in North America and one that is essen-
tial to economic growth. According to the U.S. Small Business Administration, these busi-
nesses represent more than 99.7 percent of all employers, employ more than half of all private
sector employees and generate up to 80 percent of net new jobs annually. But growth often
requires financing. Historically, this has been a risk difficult for lenders to assess, due to the
lack of information about creditworthiness. We have the solution! Equifax Small Business has
the largest information database in the United States, with more than 22 million unique files.
We have excellent traction. Ninety percent of the largest small-business lenders use our services
and we are expanding into other markets serving smaller commercial customers. Clearly, for
the economy at large and for Equifax, small business translates into opportunity.
Our leadership in all aspects of our core information services business translated into
extraordinary performance in 2003. North America had its best year ever, increasing revenue
by 13 percent and adding nearly 10,000 new
customers. Our billable transactions were up
18 percent over 2002, demonstrating growth
across our entire customer base. We performed
exceptionally well in Canada, where revenues
increased 17 percent – setting a new record.