Threat of recession has caused 50% of businesses to stop innovating

Half of UK C-suites (50%) say that the threat of economic disruption has meant innovation has ceased in their business, according to new research from independent consultancy Magnetic. Just 22% disagree, with 28% undecided. This corroborates the 56% who say they’re prioritising the survival of their business above all else; an especially concerning figure when two-thirds…

Read more

Over half of SMEs owners have ‘good understanding’ of AI

New data from small business lender iwoca has revealed that while more than half of SME owners (55%) feel they have a good understanding of AI, the majority are nervous about how it will impact their business. The new research also finds that three in ten (27%) SMEs are now using products like ChatGPT across…

Read more

Half of businesses have no plans to use AI

Research by the British Chambers of Commerce (BCC) has found that almost half of all firms (48%) have no plans to use Artificial intelligence (AI) technology. The research found that customer-facing businesses (B2C) are even less likely to use AI, with 58% stating they have no plans to use it, with pne in four respondents…

Read more

Two in three SMEs investing in new technology to drive efficiencies

19th September 2023 Commercial Credit Management |

Two in three small business owners (67%) say technology is having a positive impact on their business and – 18-months on from Covid restrictions falling away – almost one in four small business owners (23%) say they are still using technology to help staff members to work from home according to research by Novuna Business…

Read more

Credit & Collections Technology Awards announces 2023 shortlist

Credit Connect is pleased to reveal the companies, partnerships and individuals that have been shortlisted in this year’s seventh annual Credit & Collections Technology Awards. The Credit& Collections Technology Awards is the UK’s celebration of tech innovators in credit and collections. The technology-focused award scheme seeks to champion innovation and best customer outcome solutions. The shortlist…

Read more

Over 750,000 SMEs using open banking services

Research by Open Banking has revealed that at least 750,000 SMEs now integrate their bank accounts with third-party services to reduce the cost of transactions and help to manage cash flow. The research also revealed that the number of open banking payments has more than doubled last year to 68 million with small firms adopting…

Read more

PSR confirms plans to help businesses save money on card services  

7th October 2022 Commercial Credit Management |

The Payment Systems Regulator (PSR) has published its final decision confirming the changes it is making to improve card services and choices for businesses. Every time somebody buys something using a credit or debit card, businesses like newsagents and supermarkets, use card-acquiring services to accept the payment. The prices businesses pay for these services can…

Read more

Validis and Aryza agree business lending open finance partnership

7th October 2022 Commercial Credit Management |

Software solutions specialist  Aryza has announced a partnership with Validis to develop an open finance solution that will help business lenders obtain better quality financial data from their customers. The partnership was driven by a growing need across the SME lending world for better visibility over SMEs’ cash flow and finances, through real-time data sets.…

Read more

Over half of European businesses believe data is more important than business relationships

21st July 2022 Commercial Credit Management |

Dun & Bradstreet research has revealed that a fifth of businesses have either lost or failed to sign a new contract due to a lack of data or inaccurate information about customers or suppliers Research commissioned by the company has found that over half (53%) of business leaders admit that data will become more important…

Read more

Almost half of financial professionals using Excel for debtor management

Despite the plethora of innovative new software on the market, nearly half (49%) of financial professionals are still using Excel spreadsheets to log information and updates on customer payments into their business according to research by Visma | Onguard. The figure represents a slight increase on 2021 levels (46%), highlighting that the industry’s reliance on…

Read more

Over half of small businesses fear cash flow squeeze

27th June 2022 Commercial Credit Management |

New research suggests that the biggest financial issue for small business clients is a cash flow squeeze (52%). The report by iwoca also suggests that firms are missing a key opportunity to adopt Open Banking which it says will help meet the needs of small businesses facing a cash flow squeeze. The report is based…

Read more

Creditsafe partners with Yolt in open banking partnership

Data-driven open banking provider, Yolt has agreed a partnership with business intelligence provider Creditsafe. The partnership will see Yolt’s recently launched Cashflow Analyser added to Creditsafe’s business information platform for business and credit professionals. Using Cashflow Analyser powered by open banking, Creditsafe will be able to instantly offer its clients access to a customer’s cash…

Read more

CRIF launches open banking invoice financing service

Credit information provider, CRIF has announced that it has partnered with invoice financing provider Penny to utilise open banking to enable invoice payments.  The new service utilises CRIF’s Credit Passport®, which uses open banking data to provide a real-time, secure way of speeding up the decisioning process for lenders and providing transparency and advice for…

Read more