Newsroom
Previse celebrates the success of Good Business Pays, one year on
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.
Let’s give small businesses the gift of a better year ahead
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.
Previse leads the charge on Embedded Finance in 2022
Mastercard has today unveiled its next-generation virtual card solution for instant B2B payments, using Previse’s machine learning capabilities.
Mastercard and Previse speed business payments globally
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 Partners with Previse to Offer Embedded Early Payment Solution to Suppliers
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.
Previse wins at UK FinTech Awards 2021
We’re excited to announce that Previse was named as Payment Tech of the Year at the UK FinTech Awards 2021 last night.
Previse partners with Pagero to embed InstantPay early payment technology
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 expands US presence in response to increased demand for early payment technology
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.
5 things the incoming Small Business Commissioner should consider in the fight against slow payments
Liz Barclay’s appointment as Small Business Commissioner was the latest development that reflected the UK’s longstanding and worsening slow payments crisis.
30 days is still 30 days too long for Britain’s suppliers in the wait to be paid
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 wins major grant from Banking Competition Remedies
Previse has been awarded a £2.5m grant by the Banking Competition Remedies’ Capability and Innovation Fund.
Previse completes USD11m funding round led by Reefknot Investments and Mastercard
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.
A Solution for the Future of B2B Commerce
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.
A better future
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
Insuring an end to slow payments: How insurance and AI make InstantPay a reality
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 selected to join Mastercard’s Start Path program to support the fintech’s growing presence in payments
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.
Leading from the front: tackling slow payments through public sector procurement
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.
Retailers can’t embrace independent suppliers until they tackle payment terms
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.
Instant Payments: The Application of Machine Learning
Working capital is the lifeblood of businesses within the global economy. However, large buyers and small suppliers often clash over time taken to pay.
Lloyd’s syndicate and Previse collaborate to tackle slow invoice payments through new AI-enabled insurance category.
ainst dilution risk, creating a brand new category of insurance for pre-approval invoice payments.
Asking the right questions on slow 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.
Time to turn to technology to fix the supplier payments problem
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.
Previse picks up another accolade for its machine learning technology
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.
More of the same won’t speed up invoice payments
Many of the most progressive businesses are enthusiastic about putting an end to slow supplier payments.
Cloud computing powering automation in invoice processing
One year on since we started working with Oracle and our relationship goes from strength to strength.
Previse scoops up two awards in two cities on same day
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.
AI & Learning – A Powerful Combination
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.
Tackling slow payments starts with the right data
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.
Previse shortlisted for National Technology Award
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 named one of the most influential fintechs
Previse has been named one of the most influential fintechs in 2019 by Harrington Starr’s The Financial Technologist magazine.
Previse joins Tech Nation’s Upscale
Previse has been included in Tech Nation’s Upscale programme which powers some of the fastest growing tech companies in the country.
Upgrade your supply chain in 2019
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 wins two top fintech awards in one week
Previse has scooped up two top fintech awards in recognition of our best-in-class technology this week.
Previse partners with Oracle in ScaleUp Ecosystem
Previse, the instant supplier payments decisions company, has joined Oracle’s global ScaleUp Ecosystem for high-potential technology companies.
Why SCF is not the answer to slow payments
Supply chain finance (SCF) is useful in many ways. One thing it is not is a solution to slow payment terms for smaller suppliers.
Trust between suppliers and buyers has never been so important
A few weeks ago, Sears, once America’s most iconic retailer, filed for Chapter 11 bankruptcy.
Previse to represent the UK fintech sector at Sibos 2018
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.
Public and private sector collaboration key to cracking slow payments crisis
The tools and technology now exist to solve the late payments problem.
Previse raises US$7 million to transform global B2B commerce to instant payment
Previse, has raised US$7m in a Series A funding round.
It’s time for B2B invoices to be paid instantly
Previse co-founder and CEO, Paul Christensen, and Business Analyst, Shyamli Badgaiyan, explain why B2B commerce needs its ‘credit card moment’.
Previse recognised as Digital Service Company of the Year by Computing
Previse was named Digital Service Company of the Year at Computing’s Digital Technology Leaders Awards 2018.
PwC and Previse team up to accelerate roll out of cash-on-delivery for suppliers
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 named as one of the hottest fintechs in Europe
Previse has been recognised as one of the hottest fintechs in Europe by Fintech50 at an exclusive ceremony in London on Wednesday 20 June.
Previse appointed to FinTech Strategy Group
Innovate Finance and City of London Corporation have appointed Previse co-founder and CEO, Paul Christensen to its FinTech Strategy Group (FSG).
Previse partners with Auticon to find tech jobs for autistic adults in Glasgow office
Previse signs the Scottish Business Pledge.
Previse teams up with Virtualstock to deliver seamless ‘purchase to pay’ supply chain model with cash-on-delivery for suppliers
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.
How to conquer the £31.5 billion slow payments debt mountain
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.
Retail and communication heavy-weights boost board of instant supplier payments decisions company Previse
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
Carillion – slow payments have devastated suppliers, and SMEs are the worst hit
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.
Previse secures £800K Scottish Enterprise R&D funding to tackle late payments
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.
Everyone will benefit from an end to slow payments – Paul responds to City AM
In a world where everything seems to be instant, slow supplier payments are a damaging anachronism.
The A.I. Alchemy of Trade Finance
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.
After 25 years, SCF 1.0 Needs A Makeover
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.
An Algorithmic Approach to Invoice Payments
What can the payments industry learn from Google’s revolutionary search engine algorithm?
Previse opens our new Glasgow office
We are very pleased to announce that, today, Previse has opened its fourth office in Glasgow, Scotland.
It’s time for a fresh look at late payments
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.
Are you ready for the Prompt Payment Code?
The UK’s Prompt Payment Code will have a significant impact on the relationship between large businesses and their suppliers.
Previse to give multinationals the AI tools to tackle the scourge of late B2B payments with £2 million funding round
Previse, a fintech start-up, announces the successful completion of a seed funding round worth £2 million.