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.
Beat Syndicate has become the first to insure the instant payment of business to business invoices against dilution risk.
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
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.