It is almost a year since we launched Good Business Pays, and we wanted to update you on the successes of the movement. We created Good Business Pays to focus on the culture of slow payment here in the UK, and on the power of modern technology to transform working capital finance for SMEs globally.
2021 has been yet another tough year for British businesses of all sizes. As the pandemic continues and the wider economy works to build back better, it is SMEs who are impacted the worst, whilst larger companies are seemingly faring much better.
Mastercard has today unveiled its next-generation virtual card solution for instant B2B payments, using Previse’s machine learning capabilities.
Mastercard and Previse today announced the integration of Mastercard Cross-Border Services – a global push payments platform that enables funds to be sent seamlessly, securely and with certainty to any account – into Previse’s InstantPay platform.
Transcard, a global leader in payments and technology solutions, today announced a strategic partnership with Previse to embed Previse’s early payment discount solution in Transcard’s SMART Exchange account-to-account (A2A) payment platform.
We’re excited to announce that Previse was named as Payment Tech of the Year at the UK FinTech Awards 2021 last night.
Previse, the AI fintech that gets suppliers paid instantly, has partnered with global e-invoicing firm, Pagero to enable instant, embedded finance to be delivered through the world’s largest, open business network.
Previse is growing its US team following a surge in demand for its InstantPay solution, which has been spurred on by the need for SMEs to receive faster payments as they recover from the pandemic.
Liz Barclay’s appointment as Small Business Commissioner was the latest development that reflected the UK’s longstanding and worsening slow payments crisis.
On Monday, the government announced it was strengthening the Prompt Payment Code (PPC), mandating that its signatories must pay suppliers within 30 days, rather than the previous 60.
While this is a welcome step in the right direction, there is still a long way to go in addressing the chronic issue of slow payments. A 30-day payment period is still 30 days too long for many small businesses struggling to stay afloat.
Previse has been awarded a £2.5m grant by the Banking Competition Remedies’ Capability and Innovation Fund.
Previse, the leading artificial intelligence and data science fintech that gets suppliers paid instantly, announces an USD11 million funding round led by Reefknot Investments and Mastercard, with participation from existing investors Bessemer Venture Partners, Hambro Perks and Augmentum Fintech.
Supply chains are at the heart of the Covid-19 economic crisis. Disruptions and shutdowns propagate up the supply chains, and massive but blunt interventions are struggling to reach the recipients most in need of support.
For more than a decade large firms have been able to support their suppliers with a range of supply chain finance (SCF) options. Yet, uptake of these programmes by SME suppliers has remained limited
Philipp Schönbucher, Chief Data Scientist and co-founder of Previse, explains what the new collaboration with Beat Syndicate 4242 means for the world of insurance and Previse’s mission to make slow invoice payments history
Previse, the fintech that uses AI to get suppliers paid instantly, today announced that it was selected to join Start Path, Mastercard’s award-winning startup engagement programme for later-stage scaling startups.
Since the collapse of Carillion over a year ago, tackling slow payments to suppliers has maintained a spot as a key priority for the UK Government.
It’s many entrepreneurs’ dream; that first big contract which launches your start-up brand onto the national stage. It should be time to celebrate your success, but for many small firms this is the start of a new financial nightmare.
Working capital is the lifeblood of businesses within the global economy. However, large buyers and small suppliers often clash over time taken to pay.
ainst dilution risk, creating a brand new category of insurance for pre-approval invoice payments.
As the Government announces new enhanced powers for the Small Business Commissioner to tackle late payments, Paul Christensen, CEO and co-founder of Previse, points out that, unless these are coupled with reform to Prompt Payment reporting, they are unlikely to lead to practical changes for SME suppliers.
Slow supplier payments are a major problem for SMEs operating in the retail sector. Research from Previse shows that on average, UK retailers take 41 days to pay their suppliers.
On Thursday 9th April, the Previse team based in Glasgow was proud to collect an award for our machine learning technology from Scotland’s digital technology trade body, ScotlandIS.
Many of the most progressive businesses are enthusiastic about putting an end to slow supplier payments.
One year on since we started working with Oracle and our relationship goes from strength to strength.
We won the ‘Best use of data and analytics in financial services’ award at the FStech Awards 2019 in London and the ‘Best small employer’ award at the Family Friendly Working Scotland (FFWS) Top Employers Awards 2019 in Glasgow.
As everyone arrives at NBC Congrescentrum near Utrecht for the Oracle CloudDay NL event, Previse is excited to be attending the exhibition as well as participating on a panel. As partnership manager at Previse, I’m really looking forward to connecting with other thought leaders at the event.
Since the Carillon disaster last year, political pressure has been mounting on the payment practices of large corporates and, in particular, the length of payment terms offered to suppliers.
We have been shortlisted in the finance technology of the year category of the National Technology Awards 2019 in recognition of our best-in-class artificial intelligence technology.
Previse has been named one of the most influential fintechs in 2019 by Harrington Starr’s The Financial Technologist magazine.
Previse has been included in Tech Nation’s Upscale programme which powers some of the fastest growing tech companies in the country.
Supply chain management is undergoing rapid digital transformation. The old, manual processes which hold companies back are making way for technologies like cloud computing and advanced analytics. With so much opportunity, however, it can be difficult to prioritise.
Previse has scooped up two top fintech awards in recognition of our best-in-class technology this week.
Previse, the instant supplier payments decisions company, has joined Oracle’s global ScaleUp Ecosystem for high-potential technology companies.
Supply chain finance (SCF) is useful in many ways. One thing it is not is a solution to slow payment terms for smaller suppliers.
A few weeks ago, Sears, once America’s most iconic retailer, filed for Chapter 11 bankruptcy.
We are very pleased to have been selected by the UK Department of International Trade to represent the UK fintech sector at Sibos 2018 which takes place next week.
The tools and technology now exist to solve the late payments problem.
Previse, has raised US$7m in a Series A funding round.
Previse co-founder and CEO, Paul Christensen, and Business Analyst, Shyamli Badgaiyan, explain why B2B commerce needs its ‘credit card moment’.
Previse was named Digital Service Company of the Year at Computing’s Digital Technology Leaders Awards 2018.
Professional services firm PwC will become the preferred implementer for Previse’s AI-driven instant supplier payments programme for large corporates. The consultancy will offer Previse’s platform as part of its work helping clients to implement improved supplier payments processes and working capital optimisation.
Previse has been recognised as one of the hottest fintechs in Europe by Fintech50 at an exclusive ceremony in London on Wednesday 20 June.
Innovate Finance and City of London Corporation have appointed Previse co-founder and CEO, Paul Christensen to its FinTech Strategy Group (FSG).
Previse signs the Scottish Business Pledge.
Previse, the instant supplier payment decision company, and Virtualstock, the leading provider of digital supply chain solutions are partnering to deliver the first fully integrated purchase to pay supply chain system with cash on delivery for suppliers in the UK.
Small and medium-sized businesses have been forced to take out £31.5 billion in funding to maintain their cash flow due to slow payments – equivalent to the cost of hiring 640,000 new employees for a year.
Sainsbury’s Chairman David Tyler, communication strategist Alexandra Prigent-Labeis, British Land Chairman John Gildersleeve and The Data Lab CEO Gillian Docherty join Previse advisory board
The collapse of Carillion means the tragedy of layoffs, not only for thousands of workers within the company, but also for many of its 30,000 small and medium-sized (SME) suppliers who are owed hundreds of millions of pounds.
B2B payment decisions start-up Previse, has secured a £800k R&D grant from Scottish Enterprise, to set up a new development centre in Glasgow, creating 37 new data science jobs.
In a world where everything seems to be instant, slow supplier payments are a damaging anachronism.
In medieval times alchemists sought the Philosopher’s Stone, believed to be capable of transforming metals to gold. As the Stone has remained elusive, so the quest for riches turned from creating gold to finding it.
For supply chain finance (SCF) to progress and reach the next set of struggling suppliers, the model needs a rethink. We need SCF 2.0.
What can the payments industry learn from Google’s revolutionary search engine algorithm?
We are very pleased to announce that, today, Previse has opened its fourth office in Glasgow, Scotland.
Late payments from large corporates to their suppliers are on the rise, driven at least in part by the view from some treasuries that these late payments act as an interest free loan for the buyer.
The UK’s Prompt Payment Code will have a significant impact on the relationship between large businesses and their suppliers.
Previse, a fintech start-up, announces the successful completion of a seed funding round worth £2 million.