We’re excited to announce that Previse was named as Payment Tech of the Year at the UK FinTech Awards 2021 last night.
Previse is a global financial services and technology company based in London. Our purpose is to unleash the power of data for B2B commerce.
Our starting premise is that payments for goods and services in the B2B space are just far too hard. In fact, they are archaic. For both the seller trying to get paid, and the buyer trying to approve invoices and pay. This process takes weeks or months, of waiting, chasing, checking, back and forth. And that makes no sense.
Our AI analyses data to detect the very few invoices that need intervention (<2%) so that we can prepay the rest (>98%) instantly. We charge the sellers a small fee for the convenience. There are no changes to current operations or invoice processing. There is no impact on the buyer’s free cash flow or debt ratios. The implementation is low resource, quick and simple.
This is a new payment method – probably the best way to think of this is as a credit card but much cheaper because we are built for B2B and use data to reduce risk.