UK-based online software startup Satago has partnered with global information services company Experian to tackle the problem of late payment made to the country’s small and medium-sized enterprises (SMEs).
Satago has integrated Experian’s credit data so that businesses can access their customers’ real-time credit scores to help them manage and chase their debtors using Satago’s credit control customer relationship management (CRM) software.
Users can register with Satago to see when companies pay their suppliers versus agreed terms. They can also, integrate their accounting software with the company’s credit control software to easily see the credit-rating, suggested credit limit and days-beyond-terms (DBT) data for all their current and prospective customers.
“We are thrilled to have partnered with such a respected name in the credit information industry,” said Steven Renwick, founder and chief executive (CEO). “Knowing your customers’ credit worthiness is the cornerstone of good credit control.”
Max Firth, managing director of Experian Business Information Services, UK&I, added: “Late payments can cause cash flow management problems for SMEs and hold back plans for growth. By using Experian’s credit data, Satago’s credit control tool will help more businesses to get paid on time.”
recent focus on tackling late payments may be accessed
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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