TECHNOLOGY

TeamingPro Teams With SAIC to Serve as a Small Business Network Acceleration Technology Partner

TeamingPro | November 03, 2021

TeamingPro today announced that it has teamed with Science Applications International Corp. (SAIC), a premier Fortune 500® technology integrator, to help SAIC accelerate growth within its small business network. TeamingPro is a technology platform designed to help companies within the government services market connect, partner, and grow.

"Strong small business partnerships with both suppliers and subcontractors are critical to serving SAIC's customers in the federal marketplace," said Rita Brooks, Small Business Program Director at SAIC. "We are proud of our longstanding commitment to partnering with small businesses in the government services space and look forward to working with TeamingPro to continue to strengthen and grow our small business network."

Small businesses play an essential role in the federal contracting ecosystem, strengthening the supply chain and supporting dynamic customer requirements across the government. TeamingPro was founded to help increase the number of small businesses participating in the federal market with technology solutions that simplify and improve how established firms identify and partner with sub-contractors.

"When a small business new to the government services market can work with a large and dynamic business like SAIC, they have a trusted partner to help navigate the complex hurdles that success within the federal market requires. TeamingPro is helping more small business owners connect with firms like SAIC that offer robust small business mentorship programs to help diversify and increase the number of small businesses serving government customers."

Tim Hagerty, president and CEO, TeamingPro

TeamingPro's innovative technology platform helps federal contractors discover and connect with the right companies serving the federal market. With a built-in CRM, TeamingPro is designed to simplify and improve the tracking, organization, and growth of profitable teaming relationships. The user-friendly, subscription-based service delivers simple search functionality to help companies quickly vet potential teaming partners using both public and private data. Standardized outreach and tracking tools powered by automation help reduce the time and expense required to grow a company's partner network. Quick reporting tools help prime contractors better report on small business relationships.

SAIC's Small Business Program, led by Rita Brooks, is dedicated to identifying and partnering with a variety of diverse businesses across the country, including small disadvantaged, women-owned, veteran-owned, service-disabled veteran-owned, historically underutilized business zone (HUBZone) firms and historically black colleges and universities (HBCU)/minority serving institutions (MSI).

About TeamingPro
TeamingPro is a subscription-based technology platform designed to help companies discover and connect with the right partners in the federal market to accelerate growth of profitable business relationships. The technology company helps small businesses enter the federal contracting space by connecting with prime contractors and facilitates established companies as they grow their small business network.

Spotlight

Technology has changed the game for small businesses. Where department size was once an advantage, it can now be a hindrance. Where large, established infrastructures used to mean stability, they can now mean reduced agility and flexibility.

Spotlight

Technology has changed the game for small businesses. Where department size was once an advantage, it can now be a hindrance. Where large, established infrastructures used to mean stability, they can now mean reduced agility and flexibility.

Related News

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.

Read More

BUSINESS STRATEGY

Sana Expands Affordable Health Plans for Small Businesses to Indiana

Sana | June 13, 2022

Sana, a health care company that provides health benefits to small businesses at affordable prices, announced its expansion into IndianaSana is serving a traditionally underserved market in Indiana. The Health Policy Institute of Ohio’s 2021 Health Value Dashboard ranked Indiana 43rd among U.S. states, meaning Indianans receive very little in return for their health care spending. Sana will improve the health care value equation across the state through $0 virtual appointments with primary-care, mental-health, pediatric and maternity providers. “Sana is excited to offer affordable and dependable health plans throughout Indiana, More options in the market can only help employers, who have seen their health care costs skyrocket over the last five years. Our goal is to simultaneously improve health outcomes and reduce costs for small businesses across the state.” -Sana co-founder and CEO Will Young Sana’s availability in Indiana means that small and midsize businesses can now get health plans that are purpose-built to meet their specific needs. Anthem and UnitedHealth possess 80% of the small group market, according to 2019 data from the San Francisco-based Kaiser Family Foundation. Sana offers an alternative to those and other legacy insurers. The large, legacy insurers in Indiana may serve as an adequate option for enterprises with thousands of employees, but they’ve failed to provide smaller businesses with the support their modest or nonexistent human resources teams require. Additionally, those employers have not been given access to value-based health care models proven to make employees healthier at lower costs. Only payroll surpasses health benefits as companies’ largest expense category. Small businesses pay anywhere from 8% to 18% more than a large company for an identical health insurance policy, according to a 2018 National Conference of State Legislatures report. Worse, 40% of small businesses reported that they’ve increased the prices of goods and services due to rising health care costs, according to a 2021 survey by Small Business for America’s Future. When Sana enters a market, 40% of its new customers are small businesses that were previously unable to provide health care to employees, largely due to high costs. Launching in Indiana adds 1.2 million employees who can benefit from Sana’s health plans. Sana is strengthening its presence in the Midwest, adding Indiana to go along with availability in Illinois and Ohio. Sana is now available in states that compose 25% of the country's small businesses. "Sana changed my company culture and supported my goals of growth with affordable benefits, great service and easy-to-understand health guides,” -Heather Jones Taylor, chief consultant at Mad Hat Maven, a Houston-headquartered marketing agency. Those looking for small business health insurance in Indiana will save money on health insurance and attract and retain top talent in a competitive labor market. Sana’s customers often save up to 20% compared to legacy insurers, and most receive flat rates at renewal. Starting today, Indiana-based companies can offer their employees health benefits packages with full medical, dental, vision and more without network restrictions or hidden fees. Sana is known for affordable employer health plans, low co-pays and 95% customer-service satisfaction. About Sana Austin-headquartered Sana provides small businesses with dependable health plans at prices they can afford. Through value-based care, the Sana Care ecosystem of world-class providers, direct primary care and more, Sana is reducing the cost of high-quality care. Sana is making it easier than ever to administer benefits for employers, and offers simplified health plans and top-notch customer service to employees. Sana provides health care to small businesses that drives down costs while simultaneously delivering an exceptional quality of care. For more information, visit www.sanabenefits.com.

Read More

FINANCE,BUSINESS STRATEGY

Mastercard Installments Gains Traction with New Global Partners and Support for Small Businesses

Mastercard | July 29, 2022

Mastercard has welcomed a raft of new global partners to its innovative Mastercard Installments program and is expanding it further to support small businesses in the U.S. Illustrating the demand for powerful buy now, pay later (BNPL) experiences from familiar and trusted brands, several new partners are providing support for the program, including HSBC, J.P.Morgan and NatWest in the U.K.; Cross River Bank, Evolve Bank & Trust, Jifiti, Live Oak Bank, MOCA Financial and WebBank in the U.S.; and Saudi National Bank (SNB) in Saudi Arabia. The program taps the power and scale of the Mastercard network, which connects to more than 90 million merchants globally, to instantly support secure BNPL payments at checkout, both in-store and online.In addition to delivering more payment choice, Mastercard Installments is built on responsible lending practices and supports shoppers with an enhanced set of consumer protections, data transparency and insight-driven programs. Through technology, data and insights, and its consulting expertise, Mastercard is creating a more intelligent way to provide installment lending at scale. “We believe no matter how you pay, a foundation of strong protections must be in place, Trust is the currency of innovation. Using a Responsible-by-Design approach ensures that we stay ahead of consumer, merchant and bank needs and expectations, continuously building confidence in the payments ecosystem by providing choice at scale.” -Craig Vosburg, Chief Product Officer at Mastercard. A Responsible, Intelligent Way to Offer Installment Lending According to new global consumer research from Mastercard's World Payments Advisory™, nearly a quarter of respondents across 50+ markets have used a BNPL product in the past six months.[i] For BNPL users, “forgetting the payment was due” was the leading reason for missing an installment payment, while concerns about “hidden charges” were cited as a leading barrier to consumer adoption overall. Mastercard Installments addresses these concerns with a suite of unique, innovative services that increases transparency and helps protect consumers and businesses. These services include: Cutting-edge insights and analytics: Merchants and lenders are able to access a comprehensive set of data dashboards to better understand how their products are performing. Mastercard Test & Learn® technology can also pinpoint where to prioritize efforts and resources that enhance the user experience and drive successful loan repayment. Mitigating repayment risk with open banking and AI: In the U.S., using consumer-permissioned data and open banking technology, lenders can identify behavioral patterns to reduce the risk of failed payments while artificial intelligence can adjust models more quickly and accurately for success. Dedicated and embedded consumer protections: To participate in the Mastercard Installments program, lenders agree to follow applicable laws and network guidelines on responsible lending practices and data usage practices, among others. Consumers and U.S. small businesses enjoy the peace of mind that they get today from any other Mastercard product – including tokenization, dispute resolution, and zero fraud liability. Empowering U.S. Small Businesses Mastercard research shows that over 70% of small business owners who have used personal installments are likely to adopt business installments products if they become available.[ii] Meeting this demand in the U.S., Live Oak Bank, the nation’s leading small business lender, will support the program, with the goal to make Mastercard Installments available to its 7,000 small business customers.iii This builds on Mastercard’s ongoing commitment to Main Street America, delivering products and services that help improve operational efficiency, manage cash flow and maximize customer connections with financial tools. About Mastercard (NYSE: MA) Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Read More