B2B Payments

Koverse Chosen As Foundation For PwC’s Know Your Vendor Solution

PwC has chosen the Koverse Intelligent Solutions Platform to integrate into its “Know Your Vendor” solution. By integrating with Koverse’s platform, PwC, which is one of the U.K.’s Big Four auditing firms, will “rapidly develop its innovative solution” to deliver unlimited scalability, cell-level data security and performance.

The Know Your Vendor solution now combines PwC’s proprietary experience, algorithms and advanced analytics with Koverse’s technology to handle both structured and unstructured data. Clients can use those analytics to better understand supplier networks and vendor risks, as well as how to handle those risks in a cost-effective way.

“PwC is using data to solve a real-world problem, and we’re excited to support their game-changing solution,” said Koverse President and CEO Jon Matsuo, according to Supply Chain Digital. “Koverse’s rapid solutions development environment enabled PwC to get to market in a fraction of the time it would have required otherwise. The old methods of vetting and monitoring suppliers only scratched the surface of the problem facing companies. Using Koverse’s technology and sophisticated data science expertise, PwC applied their own domain expertise, and developed an elegant and powerful way for companies to easily understand what’s happening throughout their entire supply networks, including visibility into a company’s vendors’ vendors. PwC’s use of Koverse is a perfect application of our scalable, secure and high-performing technology.”

This integration with Koverse is PwC’s latest partnership. In September, it teamed up with Scotland-based Bemo to launch a mobile app for small businesses (SMBs). PwC also has another mobile app, My Returns Reminder, which sends notifications to SMBs about their HMRC payment deadlines, including corporation tax, confirmation statements and VAT payments.

“The launch of My Returns Reminder is a significant moment for our SCALE program, as it embodies what we are trying to achieve by illustrating how innovation works in modern business,” said Douglas Shand, PwC’s head of innovation and technology in Scotland, at the time. “When PwC realized there was demand for such an app, Bemo was the obvious choice for collaboration. If we hold our SCALE partners up as exemplars, then we should be ready to step up ourselves to collaborate with them, and that is what we’ve done here.”

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