7 SMALL BUSINESS LENDERS REPORT TO CREDIT BUREAUS IN 2019

CHIEF EDITOR | December 10, 2019 | 152 views

A small business credit history started at the very first day of your its operations. For every business owner, among many goals, an important one is to constantly monitor and develop both personal and business’s credit ratings. A business credit history is a tabula rasa for every startup, and in order to demonstrate your business’s creditworthiness to get business loans or business credit lines in the future—you need to build your business credit history. For most small businesses, securing a small business loan is a great way to build business credit history by practicing stellar borrowing habits, and that includes paying off loan in full and on time. Even if you’re following a stellar borrowing practice, unluckily, only few business lenders report it to the credit bureaus. Here is a list of seven small business lenders that report your borrowing practices to the business credit bureaus.

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American Manufacturers since 1932! See our article in the Pratt Center for Community Development's August newsletter featuring CarryHOT usa as their Made in NYC Company of the Month:http://hosted.verticalresponse.com/205219/2ed9f99498/45017273/ac105df644/#CHProud distributors of high quality products for food deliveries!Like all dynamic businesses, our product line is always changing. However, our mission remains constant:To proudly manufacture, market, sell and service top-quality thermal bags and accessories that are exeptionally engineered for long-lasting, cost affective professional performance.We carry the entire product selection of Carry Hot Inc. including ProDough.

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SMALL BUSINESS ADVICE,INDUSTRY OUTLOOK

5G – An Optimal Solution for Small Business

Article | July 29, 2022

Is your business prepared to harness the potential of 5G? If not, this is the right time to do it. It would help if you prepare to implement 5G technology since it will present a tremendous chance for novel ideas, new products and services, and revolutionized business models. 5G is not just about fast internet speed for the future; it is also about faster business. 5G has the potential to increase individual productivity, boost the efficiency of sales channels, and provide various new business prospects. In the face of future hazards and uncertainties, 5G will be critical in developing stronger adaptation and resilience. Small businesses must consider how 5G will influence them and how they might benefit from it. In the future, 5G will be crucial for various sectors like automation, AI, machine learning, virtualization, and cloud computing. Because these industries are likely to experience growth in the coming years, it is essential to plan how to reap the benefits for your personnel and business operations. 5G Business Models and Opportunities for SMEs The world has witnessed the disruption in business models with the arrival of 5G for incumbent operators and verticals alike. There will be numerous good opportunities for big players in the market, who are in good position. However, the real winners may well be the SMEs that have mastered the key technologies and services that make the new business models possible. Key features like speed, ultra-low latency, high scalability, and network efficiency make 5G unique for business operations. 5G is a gateway for new opportunities, especially when integrated with Wi-Fi 6. It promises new efficiencies, greater productivity, and new ways to define your small business. SMBs need to build a robust strategy so that once the technology is available, their businesses will be well-equipped to utilize 5G and reap the benefits of the advanced network. In addition, better network connectivity will encourage the development of new products and services for customers, which will help business expansion and long-term success. Motivations for Investing in 5G Large number of SMEs are intrigued by 5G's potential security, automation, and competitiveness benefits. This indicates that companies perceive 5G as much more than just a "faster internet" and envisage ways in which a 5G-enabled future will help them survive and thrive over the next decade. A few other compelling factors encourage businesses to invest in 5G. Here are the ones listed: Improved remote working operations Improved customer experience The efficiency of operations/cost savings Enables new types of services and products Greater operational security Improved data collection and analytics Increased competitiveness Improved automation Increased productivity of the workforce Final Word 5G offers a significant opportunity for small enterprises to expand their reach. This technology allows the company to become a true digital leader. It is time to trust in the potential of creativity and collaboration and put them into practice for economic growth.

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TECHNOLOGY,SMALL BUSINESS ADVICE

Time to Reinvent the Small Business Insurance

Article | July 20, 2022

Insurers should reconsider the SME market. Small enterprises face the recovery from disruptions with a new set of requirements. In addition, the pandemic pushed customers’ desires for a broader range of coverage, services, and distribution alternatives. As a result of the sensitivity to business insurance-related complications, business owners conduct a comprehensive analysis of the available solutions. There are various business insurance types available: Business Owner’s Insurance (BOI), Product Liability Insurance, Commercial Insurance, Directors and Officers Liability Insurance, and Workers Compensation Insurance. Insurers view disruptions as an opportunity rather than a threat; hence, they are now better prepared to adapt to a shifting market emphasis. Insurers Pay Attention to Changing Small Business Customer Needs The pandemic made small businesses aware of possible gaps in their insurance policies. The devastating impact of the pandemic on companies and the ongoing economic uncertainties present chances for insurers to take immediate and decisive action. Significant small business owners are looking for more coverage and price flexibility, additional risk management services, and new insurance providers. Insurers are strengthening their market position by launching additional commercial coverage and offering discounts in exchange. In addition, insurers are increasingly likely to offer cyber insurance coverage in a world dominated by the digital economy due to escalating concerns about cyber threats. Insurers are offering more adaptable solutions to increase affordability and satisfy the changing demands of consumers. Similarly, establish chances for differentiation by providing tailored, comprehensive risk management options. In light of the ever-evolving threat to small businesses, their insurance policies must reflect the present state of affairs. How are Insurers Enhancing Product Value as a Way Forward? Insurance is no longer only a product or commodity purchased based on price but, instead, a service solution purchased based on perceived value to decrease risk and control loss. By using data analytics and AI in different parts of their business, like underwriting, claims, marketing, and distribution, insurers can make better, more timely decisions about dynamic pricing for consumers. Below are a few more ways that insurers can enhance their product value for a better future: Redesign current plans to give additional flexibility in coverage, premium payments, and payment triggers Expand the stack by including new coverage like cyber, remote employees, climate risk, and cryptocurrencies Bundle more coverage to save time and money while increasing retention Keep automated tools easy to find, navigate, and integrate via applications and an intuitive website Go Robo offers digital solutions to assist small companies to manage their insurance portfolio, submit and follow-up on claims, and enhance risk management How Should Insurers Adjust to Win SME Market Share? Small business insurance covers everything and may be tailored to the needs of specific sectors and enterprises. However, current conditions provide incumbents with the incentive to reinvigorate their legacy companies and let new rivals enter the market and disrupt them. " Insurers must have the capabilities to understand their customers and have technical solutions allowing them to rapidly evolve and adapt solutions as the market changes." -O'Hearn, global insurance leader at PwC Below are a few ways that insurers can adjust to win SME market share: Concentrate On Prospering SME Segments The growth outlook for SMBs varied by segment and industry. Therefore, insurers must identify the businesses and market areas that will drive the next wave of development and then build products and capabilities to service them. Provincial NordWest, for instance, created a new digital attacker to aid micro and small SMEs. This method enabled Provinzial to target new markets. Develop New Products The liability of small businesses has taken on an entirely new form. The requirements of small and medium-sized enterprises (SMEs) have changed considerably; insurers should build solutions that adequately meet the new realities. Axa XL and Marsh launched usage-based, price-per-mile automobile insurance that allows businesses to pay only for their coverage. In addition, thimble permits clients in the United States to suspend their policy and payments for 30 days without termination. These product solutions directly fulfill the needs of SMEs for improved flexibility and a focus on value, while also encouraging trust and transparency. Future of Insurance for Small Businesses The game of insurance for small businesses is becoming digital. As the SME category has been primarily untouched thus far, there is a considerable possibility for profitable expansion through focused investment and a heightened emphasis on the area. The insurance sector is beginning to give the small company market its attention. The fundamental shift in efficiency and scalability brought about by digitalization, and the increased segmentation and analytical capabilities made possible by modern technology have made small business insurance far more effective. In addition, targeting the SME sector is no longer viable but lucrative. According to Fit Small Business, 36% of small businesses prefer to make an insurance claim online. Conclusion The opportunity exists for insurers to renew and update their business models to better serve small companies. For example, they may change their operating model to be more user-centric, agile, and direct. Regardless of the course insurers choose, the current market void represents a great opportunity. FAQ: Why Do You Need Small Business Insurance? Businesses require business insurance because it helps cover the expenses involved with property damage and liability claims. How much does small business insurance cost? Business insurance costs vary depending on the plans purchased and the coverage levels. Other variables include your industry, personnel count, revenue, and location. Which Type of Insurance Do Small Businesses require? Below are the different types of insurance small businesses require: General Liability Insurance Business Income Insurance Workers' Compensation Insurance

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TECHNOLOGY,SMALL BUSINESS ADVICE

Virtual Promotion – A New Way of Marketing for SMBs

Article | June 30, 2022

No one anticipated how businesses would adjust to the unexpected change in business operations when the pandemic struck the globe. However, businesses were successful. Small firms that explored inventive ways to bring offline services online received a robust response. Today is the age of developing campaigns across channels automatically and improving their efficacy and reach. People choose to remain online via several channels and digital gadgets. Therefore, SMEs are turning to the future of advertising, which is online. Google Ads Google advertising is one of the best decisions you can make in the internet and virtual marketing age. Google Ads is the largest and most popular online advertising platform globally, and by advertising on Google, your business may reach a potential audience of one million people. With Google Ads, you will likely receive ten times as many leads and double your conversion rate compared to traditional marketing techniques. It allows you to target a particular demographic without spending thousands of dollars. It is not only for Google's benefit but also for the companies, as more and more customers want to buy online. As a result of the pandemic, digital demand for products/services has increased, and Google has benefitted from this. Google's marketing platform provides a centralized location to see, advertise, and manage everything. Omnichannel – Integrated Approach Omnichannel marketing is a new technique that has blurred the line between physical and virtual marketing to adapt to technology's reality. The method by which customers acquire goods and services is also evolving in terms of speed and platforms. So focusing on how your customers want to be promoted and on their devices is a new path forward. The most significant benefit of a platform-based strategy for omnichannel marketing is access to unified, real-time customer data. Omnichannel marketing is effective for all businesses, regardless of marketing team size or budget. The particular choice of techniques depends on the nature of your business. However, many sorts of organizations may profit from an omnichannel marketing strategy. Traditional retailers such as Walmart, Target, Kohl's, Macy's, and many more are increasingly emphasizing this omnichannel or integrated marketing strategy. Future of Digital Marketing in The New Tech-Age The digital behaviors that customers have established over the past two years are likely to persist for the foreseeable future. The world of digital marketing is set to undergo significant changes in 2022, and businesses should be prepared to take advantage of them. Businesses search for changes in the virtual and augmented experience known as the Metaverse, which represents the future of the web. AR tools are at the top of the list of technologies that simplify small businesses’ interaction with their audience. Marketers are becoming more strategic as automation, artificial intelligence, and machine learning remove a significant portion of the menial tasks associated with digital marketing. According to the 60-second marketer, the number of Internet of Things (IoT) devices will reach 41 billion by 2027. Last but not least, micro-influencers will significantly affect the marketing industry. Conclusion Even if the investment appears substantial, SMBs should remain open to upgrades to obtain the digital transformation niche. It is time for small firms to advance gradually and adopt new technology to prevent missing out on lucrative markets. Along with getting used to new technology, people will be rewarded for new ways of thinking and doing things.

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FINANCE

Fintech Lending Trends Transforming the Small Businesses

Article | May 13, 2022

Fintech lending trends are enabling small business owners to access fresh funding through AI, machine learning, and big data. Fintech is a fast-growing section of the financial industry, yet little is known about its performance. For an extended period, borrowing from banks was difficult for startups, small companies, and entrepreneurs; however, the expansion of industry and Fintech solutions has prompted lenders to assist small businesses using the newest AI and data analytics technologies. “Many of the processes associated with running an SMB have traditionally been very paper-based, difficult and slow. But with the advent of new technological solutions, all of these processes will be transformed.” - Karen G. Mills, a senior fellow at Harvard Business School and author of the book Fintech, Small Business & the American Dream: How Technology Is Transforming Lending and Shaping a New Era of Small Business Opportunity. The global financial industry is predicted to reach US$26.5 trillion in 2022, growing at a 6% compound annual growth rate. (The Business Research Company, 2020) From 2021 to 2025, the worldwide Fintech market is expected to increase at a CAGR of 23.58%. (Research and Markets, 2020) Small companies encounter a few significant challenges when it comes to financial management. Let us take a quick look at a few of them. Pain Points for SMEs Bank lending is frequently constrained because it takes more time and knowledge to comprehend small businesses than to grasp more standardized consumer enterprises. Also, due to the smaller loan amount, the typical relationship-based corporate banking model is expensive when dealing with small enterprises. Frequently, small businesses lack the required information, such as a history of audited financial statements, for banks to accurately analyze their cash flow position. In addition, banks are reducing their exposure to small firms due to regulatory requirements. Future of Fintech: B2B Lending By reorienting customer expectations, Fintech lenders have changed the future loan ecology. Fintech loan approval enables businesses to grow their assets, employment, and sales. Financial technology adoption is critical for small business growth and results in a greater return on investment. What’s Changed in B2B Lending Fintech? Offline businesses have historically relied on traditional financing, but online enterprises have always relied on equity. There are several trends that organizations should monitor, including the following: Cross-Border Payments B2B Lending Solutions Conversational Artificial Intelligence Accounts Payable Automation Electronic B2B Payments Smart Contracts BlockChain Emerging Fintech lenders are addressing this issue by doing more sophisticated creditworthiness assessments using real-time analysis of more data inputs. OnDeck is one such fintech lender. In addition, it uses machine learning to determine the creditworthiness of small enterprises. Debt vs. Equity in Financing Your Business Things with a return on investment of less than one year may make sense to finance using debt, as the return will be reasonably soon. On the other hand, it makes sense to fund long-term investments through stocks. Direct debt is a relatively new phenomenon in the world of Fintech firms. However, Fintech firms have various financing options, and depending completely on debt may be a sensible financial decision. How Can Businesses Take Advantage of Fintech Innovations? "In order to achieve the most from Fintech opportunities, companies in financial services need to treat Fintech innovation as a mainstream activity — and incorporate it within and across their entire organization." - Tek Yew Chia, Fintech Leader for KPMG in Singapore. Fintech organizations use AI and machine learning to automate manual processes such as risk modeling and credit decisioning. The adoption of Fintech solutions is having a profound effect on business operations. The following are the top three reasons why small and medium-sized businesses should invest in Fintech services: The scope of its capabilities and features The services are available for 24 hours a day The service's simplicity of installation, configuration, and use According to Weforum research, equity investment in FinTech startups doubled from $4 billion to more than $12 billion between 2013 and 2014. Due to the efficiency and effectiveness of FinTech solutions on a smaller scale, small firms will be one of the primary beneficiaries of FinTech's disruptive impact. Numerous firms benefit from enhanced, innovative Fintech solutions; here are a few highlighted examples. Reduced Costs Through the use of Fintech, the integration of physical and digital payment methods has been consolidated by combining bank account cards and client ids. This strategy enables organizations to operate more efficiently and at a lower total cost. Financial technology makes it possible for companies to send and receive money in different currencies without having to pay a lot in conversion fees. This speeds up the process of Fintech lending. Compliance and Security Many users disagree that Fintech Lending is secure. However, Fintech solutions are far more secure and safe than traditional banks. In addition, Fintech companies frequently invest heavily in their security infrastructure, both online and off. As a consequence, clients have confidence in the security of their data. Regulatory actions assure sound finances, governance, risk management, and compliance capabilities, therefore minimizing threats to the public safety net and potential harm to customers. Fintech firms do adhere to these regulatory requirements. Increased Transparency With the widespread use of Fintech in traditional banking, the phrase "transparency" is no longer a buzzword. Transparency in the payment sector also entails providing better visibility on payment timelines and outlining the path a customer's money will take during the payment journey. International payment solutions are redefining how the worldwide remittance process is seen. Notifying customers at critical points in the payment process, such as when money is received from a client and when it reaches a beneficiary's account. Overview of a Provider Amazon Amazon Lending was formed in 2012 to extend finance to small businesses selling on Amazon. Amazon's internal algorithms choose vendors based on data elements such as merchants' frequency of out-of-stock situations, the popularity of their items, and inventory cycles. Amazon provides retailers with three- to six-month loans ranging from $1,000 to $600,000 to assist with inventory purchases. According to reports, the firm charges up to 13.6% yearly interest rates. Conclusion Fintech has the potential to significantly and sustainably change small business finance, hence stimulating economic development. Furthermore, by integrating into the Fintech ecosystem, small businesses may access a variety of previously unavailable options. Disrupting the closed-door world of traditional financial institutions and mainstreaming alternative, technology-driven solutions creates a new industry while also enabling more entrepreneurs to start and grow their businesses. FAQ How is Fintech impacting the business? Fintech is transforming payment processing, money transferring, funding, accounting, and e-commerce. It helps businesses improve the process and create operational efficiencies. Why is Fintech so popular? Fintech helps businesses gain a share of online and offline markets, increase the customer base and achieve ambitious business goals. Which technologies are utilized in Fintech? There are some critical technologies in the focal point of discussion: Blockchain, Artificial Intelligence (AI), Security, the Internet of Things (IoT), and the cloud.

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American Manufacturers since 1932! See our article in the Pratt Center for Community Development's August newsletter featuring CarryHOT usa as their Made in NYC Company of the Month:http://hosted.verticalresponse.com/205219/2ed9f99498/45017273/ac105df644/#CHProud distributors of high quality products for food deliveries!Like all dynamic businesses, our product line is always changing. However, our mission remains constant:To proudly manufacture, market, sell and service top-quality thermal bags and accessories that are exeptionally engineered for long-lasting, cost affective professional performance.We carry the entire product selection of Carry Hot Inc. including ProDough.

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TECHNOLOGY,BUSINESS STRATEGY

Sage launches Sage Payroll to simplify accounting, payroll and HR processes for small businesses

Sage | August 10, 2022

Sage (FTSE: SGE), the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses, announced the Canadian release of Sage Payroll, which integrates accounting, payroll and HR functions into a single unified platform with Sage Accounting. The new, cloud-first solution from Sage is uniquely positioned to enable small businesses, HR and accounting teams, to manage payroll and employee data in one platform with employee self-serve features, to help their business flow. Delivering on its promise of continuous improvement and innovation, Sage has responded to customer needs to deliver a cloud payroll experience that helps solve today’s most pressing business challenges. With Sage Payroll, small business owners can pay their employees anytime and anywhere, with the platform automatically calculating the value of each employee’s individual payment based on their hourly pay or salary. Rather than forcing small businesses and their accounting and HR teams to juggle between multiple solutions and chase after employee data, Sage Payroll centralizes employee records and automates time-consuming HR processes with ease. This helps to minimize time-wasting, manual work and human error mistakes while empowering small businesses to focus on what matters most – their people and their customers. “For many SMBs, digital tools boost productivity and reduce cost while supporting hard-working teams to get work done more efficiently, With Sage Payroll, Canadian small business owners and accountants can now run their payroll, accounting, and HR processes from a single dashboard, making it easier to pay staff and track and manage HR information all in one place, to drive efficiencies and empower the workforce of today.” -Steve Ryujin, VP, Small Business Segment, Sage Canada And because Sage Payroll is integrated with Sage Accounting, business owners and their accounting staff need not worry about manually syncing payroll and accounting, saving them both time and effort. The software is also CRA Compliant and aligned with changing tax legislation. Sage Payroll is designed to meet the administrative needs of Canadian small businesses. As a business grows from a sole proprietorship to a thriving company with hundreds of employees and performance targets, Sage can provide the right add-ons to accommodate every stage of their business growth. About Sage Sage exists to knock down barriers so everyone can thrive, starting with the millions of small and mid-sized businesses served by us, our partners and accountants. Customers trust our finance, HR and payroll software to make work and money flow. By digitizing business processes and relationships with customers, suppliers, employees, banks and governments, our digital network connects SMBs, removing friction and delivering insights. Knocking down barriers also means we use our time, technology and experience to tackle digital inequality, economic inequality and the climate crisis. Learn more at https://www.sage.com/en-ca/

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TECHNOLOGY,FINANCE

TreviPay Releases Small Business Supplier Network Banking Solution to Support Recovery for Small Business Sellers Serving Business & Government Buyers

TreviPay | August 10, 2022

Global B2B payments and invoicing network TreviPay today announced the launch of its Small Business Supplier Network (SBSN) across the United States, the industry’s first payments network built for banks and their small business customers. Following TreviPay’s recent launches of specialized networks for large enterprises and midmarket businesses, the SBSN completes TreviPay’s objective to meet the needs of businesses of all sizes.As a fully integrated, end-to-end payments network running in parallel with card payments, the SBSN enables banks, as members of the network, to deliver a new white-labeled structured financial service to small business suppliers that sell to business and government entities on invoice payment terms. TreviPay, which has a legacy of being the preferred B2B payment method of thousands of corporate sellers and their buyers around the world, will partner with banks to empower small business suppliers to offer flexible payment terms to their customers while getting paid virtually real-time and risk-free without incurring debt. According to research commissioned by TreviPay, American small businesses with 100 or fewer employees extend approximately $5 Trillion in B2B trade credit to their business and government customers every year when allowing them to pay on invoice terms (e.g., net 30, 60, 90+ days) - the original “buy now, pay later.” Extending trade credit to business customers is commonplace and often considered necessary to remain competitive, attract new or larger customers, and deepen existing relationships, all while building loyalty and driving retention. However, small business suppliers still fund most of the trade credit they extend from their own working capital. This long-standing, inefficient use of their limited cash flow is ultimately an impediment to their growth and resiliency. TreviPay’s SBSN allows member banks to expand their current small business product offerings by providing a safe and profitable way to tap into the largely unpenetrated small business B2B trade credit market, arguably the largest growth opportunity for small business banking. With SBSN, member banks can customize their solution, define and support their go-to-market strategies, control and manage their risk policies and set supplier fees, all while managing to their established exposure targets, growth rates, and profitability. Additionally, by joining the SBSN, banks can launch this new product without capital investments or technology integrations. “Our vision for the Small Business Supplier Network is to create the technological infrastructure and operating model to deliver a new structured financial solution capable of eliminating small business trade credit the same way the credit card networks virtually eliminated B2C trade credit for retailers, Working together, TreviPay and member banks have a real opportunity to transform the inefficient B2B trade credit market and give small businesses a better way to do business so they can re-secure their position in the U.S. economy.” -Rissi Lovern, Head of Small Business Markets at TreviPay Over the last 20 years, we have seen the small business trade credit market become increasingly stretched with cash flow pressure building to intolerable levels. This is especially true when small businesses are on both the extending and receiving end of trade credit,” continued Lovern. “With every recession or economic downturn, this phenomenon creates a long and arduous road to recovery. By combining the strength and reach of our financial institution members with TreviPay’s proven B2B payments network and our mutual care for the U.S. small business market, we can strengthen the backbone of small businesses. To learn more about the SBSN and how you can add the solution to your banking tech stack, visit TreviPay’s Small Business Supplier Network solution page. About TreviPay TreviPay is the global B2B payments and invoicing network built to optimize trade between buyers and sellers. With more than four decades of experience building networks, TreviPay is the preferred B2B payment method of corporate buyers and sellers globally, processing $6 billion in transaction volume across 32 countries, 19 currencies and 90,000 active buyers. TreviPay gives clients the power to offer trade credit, and is trusted by major brands – with 80,000 selling locations – to deliver invoices with net terms and guaranteed payment across all sales and distribution channels. TreviPay has created the only fully managed payment and invoicing network to support B2B commerce of the future. For more information, visit trevipay.com.

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SMALL BUSINESS TRENDS,INDUSTRY OUTLOOK

Blueshift Named One of the Best Small Workplaces™ by Fortune and Great Place to Work

Blueshift | August 09, 2022

Blueshift, the leading Smart Hub platform for intelligent customer engagement, today announced Great Place to Work® and Fortune magazine have honored Blueshift as one of the 2022 Best Small Workplaces. Blueshift strives to build a healthy, supportive culture where employees feel confident to take on new challenges while also encouraged to work together as a team to make an impact. To determine the Best Small Workplaces list, Great Place to Work analyzed the survey responses of over 30,000 employees from Great Place to Work-Certified™ companies with 10 to 99 U.S. employees. In that survey, 96% of Blueshift's employees said the company is a great place to work. This number is 57% higher than the average U.S. company. "Our team couldn't be more excited to be recognized as one of this year's Best Small Workplaces,""Blueshift is a great place to work because of our incredible people who contribute to our culture each day. We are proud to create an environment that values teamwork, innovation, customer success and having fun. We are grateful to everyone at Blueshift for their contributions and celebrate the honor of being a truly great place to work Vijay Chittoor, CEO and co-founder of Blueshift. The Best Small Workplaces list is highly competitive. Great Place to Work is the only company culture award in America that selects winners based on how fairly employees are treated. Companies are assessed on how well they are creating a great employee experience that cuts across race, gender, age, disability status, or any aspect of who employees are or what their role is. Additional survey highlights about Blueshift included: 99% of management is honest and ethical in its business practices. 99% of management recognizes honest mistakes as part of doing business. 99% of our customers would rate the service we deliver as "excellent." 97% of management is approachable, easy to talk with. 97% of management is competent at running the business. "It's not the size of an organization that makes it great, but how the organization treats its people, And these small workplaces have proven that the inspiring cultures they've created go head-to-head with those of any large corporation. Leaders at these companies put their people first, and in return, achieve stronger business results than the average workplace." -Michael C. Bush, CEO of Great Place to Work About Blueshift San Francisco-based Blueshift helps brands deliver relevant, connected experiences across every customer interaction. The Blueshift cross-channel marketing platform uses patented AI technology to unify, inform, and activate the fullness of customer data across all channels and applications. Through unified data, cross-channel orchestration, intelligent decisioning, and unmatched scale, Blueshift gives brands all the tools they need to seamlessly deliver 1:1 experiences in real-time across the entire customer journey. Blueshift has been recognized in the 2021 Deloitte Technology Fast 500™ list as one of the fastest-growing technology companies in North America. For more information visit blueshift.com. About the Best Small Workplaces™ Great Place to Work selected the Best Small Workplaces by analyzing the survey responses of over 30,000 employees from Great Place to Work-Certified™ companies with 10 to 99 U.S. employees. Company rankings are derived from 60 employee experience questions within the Great Place to Work Trust Index™ survey. Great Place to Work determines its lists using its proprietary For All methodology to evaluate and certify thousands of organizations in America's largest ongoing annual workforce study, based on over 1 million survey responses and data from companies representing more than 6.1 million employees, this year alone. Read the full methodology. To get on this list next year, start here. About Great Place to Work® Great Place to Work is the global authority on workplace culture. Since 1992, it has surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Its employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything it does is driven by the mission to build a better world by helping every organization become a great place to work For All™.

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TECHNOLOGY,BUSINESS STRATEGY

Sage launches Sage Payroll to simplify accounting, payroll and HR processes for small businesses

Sage | August 10, 2022

Sage (FTSE: SGE), the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses, announced the Canadian release of Sage Payroll, which integrates accounting, payroll and HR functions into a single unified platform with Sage Accounting. The new, cloud-first solution from Sage is uniquely positioned to enable small businesses, HR and accounting teams, to manage payroll and employee data in one platform with employee self-serve features, to help their business flow. Delivering on its promise of continuous improvement and innovation, Sage has responded to customer needs to deliver a cloud payroll experience that helps solve today’s most pressing business challenges. With Sage Payroll, small business owners can pay their employees anytime and anywhere, with the platform automatically calculating the value of each employee’s individual payment based on their hourly pay or salary. Rather than forcing small businesses and their accounting and HR teams to juggle between multiple solutions and chase after employee data, Sage Payroll centralizes employee records and automates time-consuming HR processes with ease. This helps to minimize time-wasting, manual work and human error mistakes while empowering small businesses to focus on what matters most – their people and their customers. “For many SMBs, digital tools boost productivity and reduce cost while supporting hard-working teams to get work done more efficiently, With Sage Payroll, Canadian small business owners and accountants can now run their payroll, accounting, and HR processes from a single dashboard, making it easier to pay staff and track and manage HR information all in one place, to drive efficiencies and empower the workforce of today.” -Steve Ryujin, VP, Small Business Segment, Sage Canada And because Sage Payroll is integrated with Sage Accounting, business owners and their accounting staff need not worry about manually syncing payroll and accounting, saving them both time and effort. The software is also CRA Compliant and aligned with changing tax legislation. Sage Payroll is designed to meet the administrative needs of Canadian small businesses. As a business grows from a sole proprietorship to a thriving company with hundreds of employees and performance targets, Sage can provide the right add-ons to accommodate every stage of their business growth. About Sage Sage exists to knock down barriers so everyone can thrive, starting with the millions of small and mid-sized businesses served by us, our partners and accountants. Customers trust our finance, HR and payroll software to make work and money flow. By digitizing business processes and relationships with customers, suppliers, employees, banks and governments, our digital network connects SMBs, removing friction and delivering insights. Knocking down barriers also means we use our time, technology and experience to tackle digital inequality, economic inequality and the climate crisis. Learn more at https://www.sage.com/en-ca/

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TECHNOLOGY,FINANCE

TreviPay Releases Small Business Supplier Network Banking Solution to Support Recovery for Small Business Sellers Serving Business & Government Buyers

TreviPay | August 10, 2022

Global B2B payments and invoicing network TreviPay today announced the launch of its Small Business Supplier Network (SBSN) across the United States, the industry’s first payments network built for banks and their small business customers. Following TreviPay’s recent launches of specialized networks for large enterprises and midmarket businesses, the SBSN completes TreviPay’s objective to meet the needs of businesses of all sizes.As a fully integrated, end-to-end payments network running in parallel with card payments, the SBSN enables banks, as members of the network, to deliver a new white-labeled structured financial service to small business suppliers that sell to business and government entities on invoice payment terms. TreviPay, which has a legacy of being the preferred B2B payment method of thousands of corporate sellers and their buyers around the world, will partner with banks to empower small business suppliers to offer flexible payment terms to their customers while getting paid virtually real-time and risk-free without incurring debt. According to research commissioned by TreviPay, American small businesses with 100 or fewer employees extend approximately $5 Trillion in B2B trade credit to their business and government customers every year when allowing them to pay on invoice terms (e.g., net 30, 60, 90+ days) - the original “buy now, pay later.” Extending trade credit to business customers is commonplace and often considered necessary to remain competitive, attract new or larger customers, and deepen existing relationships, all while building loyalty and driving retention. However, small business suppliers still fund most of the trade credit they extend from their own working capital. This long-standing, inefficient use of their limited cash flow is ultimately an impediment to their growth and resiliency. TreviPay’s SBSN allows member banks to expand their current small business product offerings by providing a safe and profitable way to tap into the largely unpenetrated small business B2B trade credit market, arguably the largest growth opportunity for small business banking. With SBSN, member banks can customize their solution, define and support their go-to-market strategies, control and manage their risk policies and set supplier fees, all while managing to their established exposure targets, growth rates, and profitability. Additionally, by joining the SBSN, banks can launch this new product without capital investments or technology integrations. “Our vision for the Small Business Supplier Network is to create the technological infrastructure and operating model to deliver a new structured financial solution capable of eliminating small business trade credit the same way the credit card networks virtually eliminated B2C trade credit for retailers, Working together, TreviPay and member banks have a real opportunity to transform the inefficient B2B trade credit market and give small businesses a better way to do business so they can re-secure their position in the U.S. economy.” -Rissi Lovern, Head of Small Business Markets at TreviPay Over the last 20 years, we have seen the small business trade credit market become increasingly stretched with cash flow pressure building to intolerable levels. This is especially true when small businesses are on both the extending and receiving end of trade credit,” continued Lovern. “With every recession or economic downturn, this phenomenon creates a long and arduous road to recovery. By combining the strength and reach of our financial institution members with TreviPay’s proven B2B payments network and our mutual care for the U.S. small business market, we can strengthen the backbone of small businesses. To learn more about the SBSN and how you can add the solution to your banking tech stack, visit TreviPay’s Small Business Supplier Network solution page. About TreviPay TreviPay is the global B2B payments and invoicing network built to optimize trade between buyers and sellers. With more than four decades of experience building networks, TreviPay is the preferred B2B payment method of corporate buyers and sellers globally, processing $6 billion in transaction volume across 32 countries, 19 currencies and 90,000 active buyers. TreviPay gives clients the power to offer trade credit, and is trusted by major brands – with 80,000 selling locations – to deliver invoices with net terms and guaranteed payment across all sales and distribution channels. TreviPay has created the only fully managed payment and invoicing network to support B2B commerce of the future. For more information, visit trevipay.com.

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SMALL BUSINESS TRENDS,INDUSTRY OUTLOOK

Blueshift Named One of the Best Small Workplaces™ by Fortune and Great Place to Work

Blueshift | August 09, 2022

Blueshift, the leading Smart Hub platform for intelligent customer engagement, today announced Great Place to Work® and Fortune magazine have honored Blueshift as one of the 2022 Best Small Workplaces. Blueshift strives to build a healthy, supportive culture where employees feel confident to take on new challenges while also encouraged to work together as a team to make an impact. To determine the Best Small Workplaces list, Great Place to Work analyzed the survey responses of over 30,000 employees from Great Place to Work-Certified™ companies with 10 to 99 U.S. employees. In that survey, 96% of Blueshift's employees said the company is a great place to work. This number is 57% higher than the average U.S. company. "Our team couldn't be more excited to be recognized as one of this year's Best Small Workplaces,""Blueshift is a great place to work because of our incredible people who contribute to our culture each day. We are proud to create an environment that values teamwork, innovation, customer success and having fun. We are grateful to everyone at Blueshift for their contributions and celebrate the honor of being a truly great place to work Vijay Chittoor, CEO and co-founder of Blueshift. The Best Small Workplaces list is highly competitive. Great Place to Work is the only company culture award in America that selects winners based on how fairly employees are treated. Companies are assessed on how well they are creating a great employee experience that cuts across race, gender, age, disability status, or any aspect of who employees are or what their role is. Additional survey highlights about Blueshift included: 99% of management is honest and ethical in its business practices. 99% of management recognizes honest mistakes as part of doing business. 99% of our customers would rate the service we deliver as "excellent." 97% of management is approachable, easy to talk with. 97% of management is competent at running the business. "It's not the size of an organization that makes it great, but how the organization treats its people, And these small workplaces have proven that the inspiring cultures they've created go head-to-head with those of any large corporation. Leaders at these companies put their people first, and in return, achieve stronger business results than the average workplace." -Michael C. Bush, CEO of Great Place to Work About Blueshift San Francisco-based Blueshift helps brands deliver relevant, connected experiences across every customer interaction. The Blueshift cross-channel marketing platform uses patented AI technology to unify, inform, and activate the fullness of customer data across all channels and applications. Through unified data, cross-channel orchestration, intelligent decisioning, and unmatched scale, Blueshift gives brands all the tools they need to seamlessly deliver 1:1 experiences in real-time across the entire customer journey. Blueshift has been recognized in the 2021 Deloitte Technology Fast 500™ list as one of the fastest-growing technology companies in North America. For more information visit blueshift.com. About the Best Small Workplaces™ Great Place to Work selected the Best Small Workplaces by analyzing the survey responses of over 30,000 employees from Great Place to Work-Certified™ companies with 10 to 99 U.S. employees. Company rankings are derived from 60 employee experience questions within the Great Place to Work Trust Index™ survey. Great Place to Work determines its lists using its proprietary For All methodology to evaluate and certify thousands of organizations in America's largest ongoing annual workforce study, based on over 1 million survey responses and data from companies representing more than 6.1 million employees, this year alone. Read the full methodology. To get on this list next year, start here. About Great Place to Work® Great Place to Work is the global authority on workplace culture. Since 1992, it has surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Its employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything it does is driven by the mission to build a better world by helping every organization become a great place to work For All™.

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