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Alternative lending platform Validus is deploying Visa virtual card technology to help small and medium-sized enterprises in Singapore with unpaid invoices access working capital, according to an announcement Thursday (June 22). Validus operates a platform through which investors can provide financing to SMEs directly.
Before the pandemic, DBS had relentlessly leveraged emerging technologies to help SMEs, especially micro and small enterprises, streamline services and manage credit risk. Digital payments, online banking, and blockchain technology emerged and became established during Gupta’s tenure, emphasizing SMEs.
It’s now more likely that two employees working from home will accidentally pay the same invoice twice, for example. But the true value in data analytics technology is in the ability to continuously audit transactions as they flow in. Less Of The Bad, More Of The Good.
Supplier risk management is often a resource-intensive practice and rarely a target of technological investments. For many, that means risk assessments conducted only once a year, a single executive in charge of managing thousands of vendor relationships, and companies that lack visibility into how many suppliers they have.
At least, that’s what commercial card technology players believe, with this week’s rundown of the latest initiatives in corporate card solutions placing a focus on returning business trip volume. It may not look like it yet, but business travel is headed for a comeback.
The tie-up is an extension of a current relationship that will have Satago’s offering smoothly linked with Sage Accounting, which will offer clients automated invoice chasing, invoice finance and credit riskanalysis in a single system. Amazon Expands Call Center Business Technology With Voice Recognition.
When it comes to mitigating supplier risk, even the largest corporations are sometimes flying blind. “You never know what you don’t know,” as Paul Blake, senior manager of technology product marketing at procurement software firm GEP , put it.
In a press release issued on Thursday (March 28), Fundbox and Synchrony announced a collaboration that will enable Synchrony to link its small business customer base to financing by integrating Fundbox ‘s artificial intelligence-powered business capital technology.
Credit and collection performance gains don’t occur without attention to People, Process and Technology, and that requires planning. Utilize software tools to provide Electronic Invoicing and Payment Processing(EIPP), customer self-service solutions, alternative payment mechanisms, and real-time payments.
Today in B2B payments, corporate acquirers get creative with technology in a pandemic world, while BBVA upgrades its expense management offering. Corporate Buyers Take On COVID World With Pandemic Technology. JAGGAER Release Upgrades AI Capabilities For Suppliers, RiskAnalysis. The JAGGAER ONE 20.3 23) announcement.
She said that Mastercard Track, which integrates with procure to pay processes (from invoicing all the way to electronic payment), “is not about writing another digital platform that is operating in isolation …but creating a platform that is about access to Mastercard and its partners.” Technology, she said, is the enabler of efficiency.
In a press release , the trade credit insurance company said its investment in and partnership with APiO will create the solution that integrates directly into small businesses’ accounting platforms, allowing firms to register and receive financing on unpaid invoices more quickly.
Research released last month from BlackLine found nearly half (46 percent) of finance professionals are already using AI in the workplace, and most say accounts receivable (AR) and accounts payable (AP) will see the largest disruptions from the technology. Analysts recommended that companies tread carefully in this regard. Pay360 , a U.K.
“This is transforming the credit riskanalysis process. but research released in March of this year found that Australia is actually the worst market for late invoice payments. ” Today, underwriting capabilities are the name of the game for alternative finance, regardless of location.
Digital transformation With the Finance team continuing its navigation around the whole digital transformation journey , Joseph observes that they have made notable progress in automating transaction processing, financial planning & analysis (FP&A), and compliance reporting.
Its platform provides proprietary cyber-riskanalysistechnology to corporate customers. Targeting the hospitality industry, xtraCHEF recently announced $3 million in funding provided by Laconia Capital Group, Connectivity Ventures, The Howard Sukonick Investment Group and Ben Franklin Technology Partners.
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