Today in B2B payments, FourQ and Pagero team up to simplify eInvoicing around the world, and Ocrolus gets into cash flow credit. Plus, Suplias transforms the business model for small shopkeepers across Africa, and Wells Fargo launches AI-powered receivables offering.
Back Office Automation Startup Ocrolus Launches Cash Flow Credit Tool
Document processing and back-office automation startup Ocrolus is planning to debut a cash flow-informed credit (CfiC) model that uses cash flow analytics from bank statements to determine whether an applicant is likely to default on the loan.
Ocrolus’ CfiC solution allows lenders create credit-scoring and risk tolerance models that can be used instead of traditional credit scores to determine if the applicant should be approved for the amount they have requested — or at all.
Nigerian Startup Provides App-Based B2B Marketplace in Africa
The founders of Nigerian startup Suplias are turning Africa’s typical business model on its head in a quest to eliminate the need for small shop keepers to close their stores in the middle of the day to place their orders at the nearest wholesale shop and pick up the goods in another location, a process that can take two to six hours in many cases.
Suplias is a B2B marketplace in which those store owners can buy inventory from manufacturers using a mobile app, completing their orders online in less than 15 minutes, pay less for the goods and receive the delivery the next day “almost free.”
New Partnership to Meet the Challenges of Global eInvoicing, Intercompany Automation
The strategic partnership between intercompany financial management software company FourQ and eInvoicing firm Pagero announced Wednesday (Sept. 8) in a press release came, in part, because of the challenges of tax-mandated eInvoicing across the world and the desire to streamline process.
FourQ and Pagero will integrate their solutions and, in the coming months, will offer a combined product that delivers eInvoicing that complies with tax authorities around the globe while managing the complex nature of intercompany processes.
Wells Fargo Unveils AI-Boosted Integrated Receivables Service
Wells Fargo & Company announced on Wednesday (Sept. 8) the release of a new accounts receivable service rooted in artificial intelligence (AI), machine learning and robotic processing dubbed Integrated Receivables, an offering the company says will simplify payment and remittance data capture, re-association and invoice matching.
The configurable platform uses AI and machine learning to fix errors and improve matching logic, helping companies spend less time on manually applied payments.
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