Archive for Credit Management

30 percent of invoices in Hong Kong are paid late! What to do?

January 13, 2015  |  Asia, Credit Management, Payment

There is nothing quite as gratifying as receiving a cheque in the mail from a customer, or an SMS notification from the bank announcing the arrival of payment for services rendered. Late payments, on the other hand, can signal cash flow disaster for growing small businesses.

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eFinans market leader in Turkish e-invoicing in its 1st year

eFinans separates itself from the rest with its ERP integration with 45 local and global ERP software thus able to capture 90% of the e-invoice users using an ERP system. Its webportal has also been developed to match a typical invoice module of an ERP in order to serve small Business requirements.

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Anachron’s Invoiceportal selected by Lithuanian VSA for full purchase to pay

VSA was looking for an electronic invoicing solution that could easily be extended with order to cash services, such as credit management features. Anachron was the only provider that was able to effectively service the entire order to cash cycle. Connecting VSA with Anachron’s InvoicePortal means the next international user for the already successful InvoicePortal.

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Can paper billing still be more cost effective than e-invoicing? Yes it can!

Can paper billing still be more cost effective than e-invoicing? Yes it can!

A Danish Energy provider decided to test with a population of new customers whether switching to paper invoices would improve the speed of payment. It also wanted to know whether digital invoices were cheaper than physical mail in regard to overall operational costs.
Shockingly it found out that sending invoices via e-mail actually increased their overall costs: it cost the company $3.25 per customer to get paid by paper invoice and $5.75 per customer billed by e-mail.

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Wowsers! Fundbox wants to streamline a 12 trillion dollar B2B (e)invoicing market.

Fundbox acts as a microlender for small businesses that cannot afford to wait for money from clients that can often take up to 90 days to arrive. Fundbox identified this as an underserved space, in that banks tend to be reluctant to lend to small businesses, particularly in small amounts.
Fundbox says that the business-to-business invoice area is worth $74 trillion, a much bigger market than the $3 trillion business-to-consumer one that includes competitors like Visa, Paypal and Square.

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Loven Trucks connects automatic credit management to einvoicing via Anachron

Loven Trucks connects automatic credit management to einvoicing via Anachron

Last year, Loven Trucks started e-Invoicing with Anachron’s InvoicePortal since some 18 months. And now it is time to take the next step. Soon, the unpaid invoices will also receive the attention they require, as they will be connected to InvoicePortal’s Credit Management module. RELEAD, the company behind the Dealer Management System used by Loven Trucks, build the connection between TruckVision and Anachron’s InvoicePortal.

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Anachron and MaxCredible team up to fight against unpaid e-invoices

a recent customer survey held among Anachron’s e-Invoicing clients showed that over 75% of the respondents saw an online credit management software solution as an important addition to electronic invoicing.
That is why Anachron and MaxCredible have joined forces in the e-Invoicing and credit management domains. From now on, it will be possible to use the credit management software of MaxCredible to give unpaid invoices the attention they require, entirely automatically.

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Better buying, better selling and now: better paying [CEO Blog + video’s]

At the end of September Basware announced their exciting partnership with MasterCard to combine payment processes with electronic invoicing network. By combining their skills, expertise and networks, they are able to bring great value to businesses of all sizes and economies around the world.
As this infographic shows, this will boost cash flows and financial confidence – and ultimately help the world economy to grow. As you can learn from the interview videos, their joint offering can help to mitigate fraud and other impediments to cash flow.

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Volvo Cars extends e-Invoicing solution with interactive credit module

Volvo Cars extends e-Invoicing solution with interactive credit module

Two years ago Anachron implemented a full hybrid e-Documents solution at Volvo Cars Netherlands. The solution sends out all invoices and other documents electronically to 115 dealers across the Netherlands. Now, the existing web portal has been further developed with a functional and interactive credit module to improve internal communication, document exchange and to reduce errors.
The credit module allows dealers to send different types of sales- and business requests to the headquarters of Volvo Cars NL. Based on the type of request, the documents follow a certain road for management, validation and archiving.

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Tradeshift launches a $3bn factoring business to improve access to cash for SMEs

As we all know (and feel) there is an urgent need amongst SMEs for cash, liquidity, and for innovation in the financing and lending space which is dominated by dinosaur-like institutions like banks. Thanks to a new funding solution by Capital Aid, TradeShift will be able to fund B2B transactions on the Tradeshift platform across all of Europe with a strong focus on the UK.
The new service provided by CapitalAid will address the cash-flow problems faced by most businesses today, by offering them instant payment on their invoices with a ONECLICK solution covering the entire approval process. The aim is to disrupt the current credit market by offering instant cash against invoices -- cheaper & faster than any bank can do today.

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