Source: Market Line Associates
Market Line Associates LLC, the premier provider of profitability and customer management solutions to the financial industry, has announced the acquisition of Houston-based EAS Software, Inc. This acquisition enables Market Line to expand the solutions it provides financial institutions for general ledger and financial reporting, organizational profitability, product and customer profitability and budgeting and forecasting.
Founded in 1989 by Kevin Snyder, EAS Software Inc. specializes in providing general ledger and financial reporting, organizational and product profitability, budgeting, forecasting, and cost allocation software solutions. Snyder is joining Market Line as chief information officer (CIO) where he will be responsible for developing, managing and implementing information technology (IT) solutions, coordinating IT resources and strategy ensuring client systems integration and 24/7 operations, software development, and identifying and overseeing business process improvements.
Scott Storbeck, CEO of Market Line Associates, said, “The synergies between our two companies and the products and services we provide made this acquisition a natural fit for the future direction of Market Line. Kevin’s wealth of experience and industry knowledge will be invaluable to our management team, and his position as CIO will help guide the future direction and growth of client offerings.”
Snyder has more than 15 years of banking and financial experience. Prior to founding EAS Software, Snyder was the president and founder of Snyder Consulting, a firm that specialized in software implementations for the financial industry. After graduating from Ball State University with a bachelor’s degree in both finance and computer science, he began his career with Texas Air as director of acquisition management.
Snyder said, “The banking environment today is more demanding than ever before with increased competition, legislative issues and changes, expanding banking channels and economic challenges. Financial Institutions’ resources and margins are being stretched and they need to maximize their ability to improve sales, bolster service initiatives and strengthen existing customer relationships in a cost-effective manner. Joining Market Line allows me to use the strengths I have garnered from past experiences to help financial institutions better understand what drives their costs and revenue. I look forward to helping our clients address their business challenges with proven solutions that can improve overall performance.”
Commenting on the companies joining forces, Michael Achary, EVP and treasurer at Hancock Bank with locations in Louisiana, Mississippi and Florida, and a client of both Market Line and EAS Software, said, “This seems like a perfect combination of two companies who have excellent customer management and profitability solutions teaming up to assist financial institutions improve bottom line performance. Having been a client of Market Line and of EAS Software – I have the benefit of understanding each of their strengths, and I am excited that they have come together. Both companies are leaders in providing cost-effective financial and marketing management solutions.”