CFI.co Blogger, Author at CFI.co Blog

Helsinki, World’s First City as a Service Is Not Just a Joke – Attracts Over 6500 applications from +100 cities

Helsinki and some of Finland’s most renowned tech companies launched a talent attraction campaign in September branding Helsinki as the world’s first City as a Service (CaaS). The campaign reframed the value that Helsinki offers to its “users” (current citizens) and potential “demo users” (tech professionals looking to relocate) using familiar vocabulary and tone of voice for international tech professionals. The campaign received close to 7,000 applications of tech professionals interested to relocate to Helsinki.

Now Helsinki is bringing its potential tech professionals to visit the city. Tech talent from Tel Aviv to New York will experience their potential new hometown Helsinki and its work-life balance during one of the world’s largest startup events, Slush, on 19–22 November. The visit is hosted by City of Helsinki along with Supercell, Smartly, Slush, Relex, and MaaS Global (Whim).

“Finding the best talent in the world is critical for us and other tech companies in Helsinki. It is a great place to live and work, with the best education system, best healthcare, opportunities to families, amazing international companies and happiest people in the world! It is easy to demonstrate that when we bring people here,” says Kristo Ovaska, CEO of Smartly.

Clever and engaging campaign noticed by the global tech community

The campaign turned city into a digital product of this decade and pitched Helsinki as a Service, highlighting its multiple perks: Helsinki’s 640,000 daily active users, key features such as free world-class education and healthcare. Helsinki’s bugs – darkness, snow and the flat skyline – were mentioned as carefully considered features. The city’s Mayor Jan Vapaavuori was recruited to act as the CEO of CaaS, encouraging potential demo users to apply for a free demo trip to Helsinki during Europe’s leading startup event Slush.

The stunt was described as clever and engaging by Trendwatching and chosen as their Innovation of the Day. The results speak for themselves. In less than a month Helsinki received close to 7,000 applications from the wished target group of professionals in tech from software engineers, developers, AI researchers etc.

“Helsinki has all it takes to make you feel like home but the problem was, not too many knew about its beautiful features. To make the world aware of what Helsinki has to offer, the city just needed a little repackaging.” says Alexander Pihlainen, CEO of brand company Bou behind the creative concept.

Helsinki steps up efforts to attract international talent

This year the Finnish growth companies attracted the most venture capital investments to GDP in Europe, and hundreds of millions of euros in foreign capital have been invested in startups here. With a new approach to branding Helsinki, the city wants to improve the city’s image as a place to live.

“Helsinki is located in one of the world’s most secure countries and inhabited by the world’s happiest people. The majority of foreign experts who have settled in Helsinki are satisfied with the quality of life here. The experience of a happy, good life is a combination of tangible – like housing, transportation, jobs and infrastructure – and intangible things. The intangibles – sense of trust and community, equality, closeness to nature – are essential values in building the quality of life”, says Jan Vapaavuori, Mayor of Helsinki.

Campaign site: www.myhelsinki.fi/caas

For more information, please contact:

Laura Aalto
CEO
Helsinki Marketing (Helsinki)
+358 40 507 9660
laura.aalto@hel.fi

Helsinki Marketing is a company owned by the City of Helsinki. It is responsible for operative city marketing and business partnerships for Helsinki. Helsinki Marketing interacts with local residents, visitors, decision-makers and experts.

Technology

CE-approval (Class IIa) for Heart2Save’s arrhythmia analysis service

ByCFI.co Blogger

AiVoni Analysis Service by Heart2Save from Finland determines four different arrhythmias, allowing especially detection of atrial fibrillation. Early detection of arrhythmia significantly reduces the number of strokes caused by atrial fibrillation and thus saves lives and secures higher life quality. AiVoni Analysis Service is based on clinically validated algorithms and has now been certified as a medical device (CE 0537 / Class IIa). The service is available for ECG device providers through the industry-standard interface, Heart2Save is especially looking for new players in the consumer market, developing new innovative ECG solutions.

Atrial fibrillation is a heart arrhythmia, which causes symptoms for some, but is asymptomatic for others. This means the person in question is often completely unaware of suffering from atrial fibrillation. The most feared consequence of atrial fibrillation is a cerebral stroke. In fact, atrial fibrillation causes no less than 40 % of cerebral strokes. The lifetime risk of a stroke is about 20 %.

AiVoni Analysis Service by Heart2Save has been certified as a medical device, which means it has gone through the same process as devices that are used in hospitals, ensuring product quality and patient safety. The Service’s clinically validated algorithms analyse the heart rhythm and send the response within seconds to the user. The service generates a diagnostic ECG report, which facilitates the initiation of a treatment path.

The algorithms have been validated in clinical studies, which proved that AiVoni Analysis Service can detect atrial fibrillation with high sensitivity (96 %) and specificity (99 %). Moreover, it can detect ventricular extrasystoles, bradycardia and tachycardia with high accuracy.

Heart2Save collaborates with Suunto, a leading sports watch provider, in developing the product for arrhythmia detection. Heart2Save is responsible for the analysis service, and Suunto produces the ECG sensor. Suunto’s Movesense medical-grade ECG sensor is now in the final phase of medical device approval.

‘Congratulations for Heart2Save for medical approval. We will be there soon as well with the Movesense sensor and are looking forward to the success of Heart2Save’s product’, says Jussi Kaasinen, Director of Emerging Businesses, Suunto.

To expand the possibilities for stroke prevention, Heart2Save is now looking for new partners for ECG device integration.

On Nov 21-22.2019, Heart2Save is attending Slush, the world’s leading startup event, presenting the AiVoni Analysis Service, and is looking forward to meeting potential investors and other stakeholders. On Friday 22.11 the company can be found in the startup area, booth E8.

For more information, please contact: 

Helena Jäntti
CEO, Heart2Save
+358 40 553 8438 | helena.jantti@heart2save.com 

ABOUT Heart2Save

Heart2Save’s mission is to save lives and ensure high life quality by early detection of heart arrhythmias and prevention of cerebral strokes. The company has developed AiVoni Analysis Service that allows users to identify heart arrhythmia anywhere, anytime. The service is certified as a medical device (CE 0537 / Class IIa). Heart2Save’s team consists of doctors, top medical signal processing PhD’s supported by medical device R&D, quality and regulatory professionals. The investor team adds expertise from business and financing perspectives. www.heart2save.com

Corporate Finance

Could this be the SME election? Small businesses employ 16million – over a third of the electorate

ByCFI.co Blogger

SME experts – IW Capital and the UKBAA – discuss the importance of SME success to the next Government

Today will see the three main party leaders set out their plans to secure the support of the UK’s business leaders at the CBI conference. Boris Johnson is set to make the case for getting Brexit done, while Jo Swinson is to claim that the Lib Dems are the “natural party of business”. Labour is to focus on apprenticeships and training for the business community.

When setting out their stall in business policy, one area that is set to have a huge impact is the support promised for small and medium enterprises across the UK. The SME community employs 16.6million of the roughly 45million eligible voters in the UK and contributes £2.2trillion (52%) to the economy. If the next Government can make it clear that they are the party to help this sector of business to grow and thrive they could see significant support from one of the biggest sections of voters to exist in the UK.

Luke Davis – CEO of SME investment house IW Capital says:

“The importance of the SME sector is hard to overstate, and in the context of the upcoming election will be hugely important to the future economy. With over a third of the electorate employed by small businesses this could really be a swing vote of society – if this section of the workforce feels more confident in their job security and business growth with one party, it will almost undoubtedly affect voting decisions.

“For SMEs to feel confident in their capacity to grow, employ more people and expand they need to trust that the incoming Government is going to look after them and deliver security. The range of innovative and agile firms in the space currently is reflective of the entrepreneurial spirit of the UK which if fostered correctly could kick-start the wider economy into a period of growth.”

Jenny Tooth, CEO of the UK Business Angels Association, has commented:

“Not only is it the employees of SMEs that are keeping a keen eye on this election, but also the investors involved within the SME arena. With Britain’s impending exit from the European Union, the loss of the Jeremie fund and Horizon 2020 are bound to leave regional SMEs proactively seeking private investment more fervently. However, the mindset of investors could change post-Brexit. Investors will be looking for greater longevity when assessing the potential of a business, and will now look to how scalable businesses are in terms of their international reach. The forthcoming election and the pledges that the parties sell to businesses needs to reassure investors that the environment they delve into is a sustainable one.”

Politics

Brexit Backdoor Bonanza

ByCFI.co Blogger

The grim truth about Brexit deal III worked out between the current UK government and the EU this Autumn is that in attempting to remove the Irish backstop there will be established a huge facility for smuggling goods into, and through, the European Union – partially or totally tariff free.

The new Protocol has found a form of words that both allows Northern Ireland to remain in the UK, but also have an open border with the Irish Republic. To ostensibly avoid smuggling, Article 5 sets out a process whereby types of goods can be identified as being at “risk of subsequently being moved into the [European] Union”. But there will also be a general exclusion clause if goods are not processed in Northern Ireland – although they can be relabelled.

The cross references and double negatives in the Protocol are clearly designed to confuse the reader, but the essence of this replacement for the former “backstop” is that with a long open border there will, in practice, be virtually no barrier to “badge engineering” and the smuggling of goods into the EU (ie: the South) having imported goods to the North via any new trade agreement, or free trade concession the UK decides to introduce.

Of course, there will also be the option of exporting via Northern Ireland (and a hop across the border) goods that have been made in Great Britain, to be reshipped from Dublin to non-EU countries with which the EU has tariff-free trade and the UK does not.

Such a backdoor trade will, no doubt, help revive the established mafia in the province – the IRA. This could, in turn, undermine legitimate trade within the EU and generate a thriving grey economy to the cost of many multinationals operating legitimately there.

According to Robin Chater, Secretary-General of the Federation of International Employers (FedEE), “The fact that no watertight agreement can be reached on a Brexit deal is because a deep incompetence permeates the UK political system. It is equally a sad fact that the British people are blinded to the tragic mistake that is Brexit by their preoccupation with a hatred for eastern European nationals – who have contributed so much to the UK economy over the last 15 years. Such incompetence and xenophobia makes me deeply ashamed to be British.”

For further information please contact Eustace Fernsby at the FedEE Press Office on press@fedee.com and 0044 203 608 4412.

What is FedEE?

The Federation of International Employers (FedEE) is a leading corporate membership organisation for multinational companies. It was founded in 1998, with financial assistance from the European Commission. Today it is an independent body with corporate members all around the globe.

Asset Management

The Dutch Fund for Climate and Development open for business

ByCFI.co Blogger

The Hague, November 15, 2019 – The Dutch Fund for Climate and Development (DFCD) has officially been launched in the presence of government officials, NGOs, investors, politicians and other interested parties. In May of this year, the DFCD was awarded to the consortium of Dutch development bank FMO, SNV Netherlands Development Organisation (SNV), World Wide Fund for Nature (WWF-NL) and Climate Fund Managers (CFM). “Today’s launch means that the DFCD is officially open for business,” said Linda Broekhuizen, Chief Investment Officer at FMO. “The consortium is keen to connect with innovative entrepreneurs with climate-related businesses and with private investors keen to mobilize much-needed funding from the private sector to join us in our mission to create a more climate-resilient world.”

Climate change is one of the biggest challenges we face today. It is already affecting people and nature across the globe, with developing countries being most impacted. “The poorest communities are the most vulnerable to climate change. Poor farmers and others at the bottom of the pyramid suffer and lose their livelihoods even with small changes in rainfall patterns or temperature”, as Meike van Ginneken, Chief Executive Officer at SNV explained.

There is an urgent need for investment to enable vulnerable communities and ecosystems to adapt to climate change. Carola van Rijnsoever, Director of Inclusive Green Growth, and Ambassador for Sustainable Development, Dutch Ministry of Foreign Affairs, said: „The challenge we face to help communities adapt to and mitigate the effects of climate change is enormous, and the case for action is incredibly clear. We cannot do this with governments alone. We need all stakeholders to be strong enough to confront this challenge. The set-up of this consortium in which finance and NGOs come together, is unique and uniquely positioned to do this.“ The government of The Netherlands has committed to addressing this need through the DFCD, making EUR 160 million available in the period 2019-2022 for climate adaptation and mitigation, of which at least 50% is earmarked for climate adaptation projects.

DFCD is a direct response to the increasing demand for climate adaptation projects that have to date suffered from a lack of funding compared with mitigation efforts. Linda Broekhuizen adds: “In 2018, USD 612 billion was invested in climate mitigation which is important and much needed. In contrast however, only 5%, USD 30 billion, was invested in adaptation. Adaptation may have to be USD 180 billion a year if the 2030 goal is to reach the USD 1.7 trillion as required according to the most recent report of the Global Commission on Adaptation.”

To help bridge this funding gap the DFCD aims to mobilize upwards of EUR 500 million from private sector investors. Andrew Johnstone, Chief Executive Officer of Climate Fund Managers adds: “The opportunities are there. Take water for example: 80% of the world’s wastewater enters rivers and oceans untreated and by 2025, half of the world’s population will be living in water stressed areas. Neither the private nor the public sector is doing enough, but together the investment potential is enormous, as is the impact to be delivered.”

This partnership of NGOs and financiers seeks to develop and finance sustainable private sector solutions to enhance resilience to the effects of climate change. These projects will boost the health of freshwater, forest, agricultural and ocean ecosystems, and improve water management.

“The consortium takes a landscape approach through investing in projects which are planned in an inclusive manner, and build on a solid understanding of the landscape, ecosystems and communities. In this way these projects will contribute to healthier ecosystems,” said Kirsten Schuijt, Chief Executive Officer of WWF-NL. “New and incredibly exciting in this consortium is that there is early-stage funding available to convert adaptation opportunities into bankable projects.”

WWF and SNV take on the key role of developing climate-relevant projects from an early-stage idea to a bankable business case. Climate Fund Managers and FMO provide investment capital, delivering projects to full operations. This combination of early-stage involvement with full life-cycle funding will ensure lasting, long-term impact that contributes to the Paris Agreement and the United Nation’s Sustainable Development Goals (SDGs).

Interested parties can contact the DFCD through: www.thedfcd.com.

The Dutch Fund for Climate and Development open for business — In picture from left to right the DFCD partners at the official launch event in The Hague: Andrew Johnstone, CEO of Climate Fund Managers, Kirsten Schuijt, CEO of WWF-NL, Linda Broekhuizen, CIO of FMO, Albert Bokkestijn, project manger DFCD at SNV, Carola van Rijnsoever, Director of Inclusive Green Growth, and Ambassador for Sustainable Development, Dutch Ministry of Foreign Affairs.

In picture from left to right the DFCD partners at the official launch event in The Hague: Andrew Johnstone, CEO of Climate Fund Managers, Kirsten Schuijt, CEO of WWF-NL, Linda Broekhuizen, CIO of FMO, Albert Bokkestijn, project manger DFCD at SNV, Carola van Rijnsoever, Director Inclusive Green Growth, and Ambassador Sustainable Development, Dutch Ministry of Foreign Affairs.

Conferences

NDB President reports to BRICS leaders at 11th Summit in Brasilia, Brazil

ByCFI.co Blogger

On November 14, 2019, Mr. K.V. Kamath, President of the New Development Bank reported to the Leaders of Brazil, Russia, India, China and South Africa during the 11th BRICS Summit in Brasilia, Brazil.

“Thus far, the NDB has approved 46 projects for USD 12.8 billion in our member countries. By the end of this year, we expect the approvals to reach about USD 15 billion. In 2020, we are targeting approvals of USD 8-10 billion,” said Mr. K.V. Kamath.

“We are measuring the impact of our work through our contributions to the achievement of the Sustainable Development Goals that our members have committed to. We are also supporting projects that address some of the core developmental needs in our member countries, as articulated in their development agendas,” said the NDB President.

Mr. K.V. Kamath highlighted operations of the Bank in its member countries:

In Brazil, the NDB is supporting improved physical connectivity of remote areas to logistical hubs while simultaneously laying the infrastructure for enhanced digital connectivity.
In Russia, in addition to financing infrastructure that will conserve and improve accessibility to historic and cultural centers, the Bank is moving into new areas such as bringing digital technologies to the judicial system, expanding higher education and supporting railway sector.
In India, the NDB is investing in improving connectivity of rural areas to markets and opportunities, as well as in better management of water resources.
In China, the Bank is contributing to the rehabilitation and restoration of environmental assets that were adversely impacted during the phases of rapid growth and lending for innovative green technologies.
In South Africa, the NDB is assisting energy and water projects, two areas that are at the heart of the country’s economic and social challenges.

“NDB has thus far received USD 5.6 billion in capital, including advance payments of the fifth instalment by China and Russia. We expect to receive the balance USD 900 million of the fifth instalment from our other three members by January 2020,” stated the NDB President.

“The Bank’s Africa Regional Center in Johannesburg has proved that on-the-ground presence makes a big difference to our work. Our Brazil office is already staffed and ready to open and we await completion of necessary formalities. Preparations for our office in Moscow are at an advanced stage and we will open this office early next year. We will follow that up with our Delhi office in the first half of 2020,” added Mr. K.V. Kamath.

“Going forward, the Bank is capable of sustaining between USD 8-10 billion of annual lending. With the initial USD 10 billion of capital that has been provided to it by the founding members, by 2027, the Bank can achieve a total asset book of about USD 50 billion.”

“As and when the decision is taken to admit new members to the Bank, and capital from these new members is received, the Bank can grow further. Under this scenario, it can achieve a total asset book of about USD 90 billion by 2027,” projected the NDB President.

Background Information

The NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development. To fulfill its purpose, the NDB will support public or private projects through loans, guarantees, equity participation and other financial instruments. According to the NDB’s General Strategy, sustainable infrastructure development is at the core of the Bank’s operational strategy for 2017-2021. The NDB received AA+ long-term issuer credit ratings from S&P and Fitch and AAA foreign currency long-term issuer rating from Japan Credit Rating Agency (JCR).

Read the full text of the President’s Report on the NDB website: https://www.ndb.int/president_desk/report-of-the-president-2019/

Technology

Extraordinary Opportunity to Experience the World’s 6G Hotspot Followed by the World’s First Open 5G Cyber Security Hackathon in Oulu, Finland

ByCFI.co Blogger

Hosted by National Cyber Security Centre Finland NCSC-FI / Finnish Transport and Communications Agency Traficom

We invite you to join us at the opening of the world’s first Open 5G Cyber Security Hackathon at the global 6G and 5G hotspot – Oulu, Finland on the 29th of November. This ground-breaking hackathon brings together nearly 100 best hackers from 20 different countries as they complete different challenges set by Ericsson, Nokia and Oulu University.

Before the opening event, you get the unparalleled chance to explore Oulu – the home to research and development of top-tier cybersecurity on a
global scale. 6G is a flagship programme at Oulu University and about 60% of the world’s mobile phone traffic utilizes network technologies that were developed in Oulu. During this trip, you have the unique opportunity to learn about the latest 6G developments, get to know to the one of a kind ICT ecosystem in Oulu and visit some of the leading cyber security companies in the city, such as Bittium, F-Secure, Nokia 5G Factory and Tosibox. You´ll also have the opportunity to meet the head of Ericsson 5G Cyber Security.

Later, at the hackathon opening event, experts and decision-makers in 5G and cybersecurity join together to discuss the future of 5G and 6G as well as its security as the world enters a new digital decade. In addition, the hackathon’s challenges will be revealed.

This event will be followed by Leading Edge 5G Forum on February 13, 2020 in Helsinki, Finland that gathers the leading experts and decision-makers from around the world to single forum. The event´s speaker list includes major technology vendors, EU cyber security authorities, top decision makers and representatives from some of the biggest operators around the world, topped with leading professionals and evangelists in the field of 5G cyber security.

Please sign up by November 25, 2019. Registrations are handled by PR Agency Miltton, liisa.myllymaki@miltton.fi

Business

WeWork? More like WePull: New flexible co-working is fuelling office romances

ByCFI.co Blogger

The melting pot of young creative talent is having surprising effects on co-worker’s love lives

It used to be down to catching the eye of your suitor at the water cooler, but now with the influx of co-working super offices with an average of 700 members per building, office romances are hitting record levels.

Daily networking opportunities, huge open plan co-working areas and free beer are some of the features that are helping to turn WeWork into “WePull”.

“If you fill a building with young, ambitious people, then fuel them with free beer, topped off with evening networking – it’s going to bring people together and I guess that’s the point!”, says Jonathan Ratcliffe from Offices.co.uk

“We’ve been told that the large buildings are very busy with new relationships, and many are working out. People seem to have a common goal, a reason to chat and the environment is very productive to new relationships – both business and personal”, Ratcliffe adds.

The average amount of co-workers per WeWork location is nearly 700 – with a steady turnover and influx of new members every day, those looking for new romance can sit back and take their pick.

Even if it doesn’t work out, flexible workspace means just that – move to the next.

But there are pitfalls for those working for large organisations though – breeching company policy and embarrassing public arguments could have serious effects for those in long term employment.

According to a survey by Vault.com industries with the highest “fling per head” were:

Retail – 62%
Technology – 60%
Human Resources – 57%
Insurance – 54%
Finance – 49%

The survey also found that 51% had an office romance at some point, and 20% were in a relationship with a co-worker at that very time.

“It’s not surprising that the industries that typically use co-working workspaces are those who enjoy the most work flings”, concludes Jonathan Ratcliffe from Offices.co.uk

Survey data taken from Vault.com: https://www.vault.com/blogs/workplace-issues/2015-office-romance-survey-results

Spokesperson Jonathan Ratcliffe from Offices.co.uk is available for comment on 020 3151 3360 or by email jr@offices.co.uk

Offices.co.uk is a National Provider of Serviced Offices and Flexible Workspaces.

Website: https://www.offices.co.uk

Twitter: https://twitter.com/offices_co_uk

Economics

Triple Hit: Brexit, Election and Christmas impacting office space take up

ByCFI.co Blogger

Confidence of potential occupiers of office space has taken a triple hit in the run up to Christmas

The annual Christmas slowdown in office deals has come earlier in 2019 than ever, as a triple hit of Brexit worries, Election uncertainty and staff taking a long Christmas break has upset potential occupiers’ confidence according to Office Agents Offices.co.uk.

“We are seeing a very early slowdown in deals being done, and we are being told it’s because of three main reasons: Brexit, the General Election and the long 12-day Christmas holidays this year”, says Offices.co.uk Senior Broker Jonathan Ratcliffe.

Brexit is well reported, as is the General Election – but combined with an annual leave trick staff are using whereby using 5 days annual leave nets them 12 days off. The effect is a delay in bosses decision making process.

One potential deal for a large office space in Bank, City of London was kicked back 6 months as the occupier simply couldn’t get their head around how the economy might change in 2020. They are an international company, with offices in Berlin, Madrid and London and their European CEO simply cannot predict what will happen in the UK – he’s been forced to delay his office search until next summer.

“It seems to be a recurring theme – Brexit has dented confidence; the Election supercharges the effect and Christmas is slow anyway – we might as well finish for 2019 now and get the mince pies out” says Ratcliffe

Reports from regional cities such as Leeds, Manchester and Birmingham are that office space enquiries are drying up much earlier than previous years.

Jonathan Ratcliffe from Offices.co.uk adds: “Leeds was really busy until the news of the Election, then the phone stopped ringing”

How employees are using 5 days annual leave to net a 12 day Christmas Holiday: https://www.offices.co.uk/christmas-holiday-hack-get-a-festive-12-day-christmas-break-by-taking-just-5-days-off/

Spokesperson Jonathan Ratcliffe from Offices.co.uk is available for comment on 020 3151 3360 or by email jr@offices.co.uk

Offices.co.uk is a National Provider of Serviced Offices and Flexible Workspaces.

Website: https://www.offices.co.uk

Twitter: https://twitter.com/offices_co_uk

Finance

Onguard’s new machine learning function enables companies to predict customer payment behaviour

ByCFI.co Blogger

London, 14 November 2019 – Onguard, the fintech company that streamlines the entire order-to-cash process, has announced that in collaboration with Altares Dun & Bradstreet and Quantforce, machine learning will feature in its platform to enable businesses to predict the payment behaviour of debtors and act accordingly.

Available from early 2020, the platform brings together historical data from Onguard’s software, external debtor information from business data expert Altares Dun & Bradstreet and the relevant invoice and payment history of the customer via machine learning on a scorecard generated by Quantforce. The resultant score ranks the debtors in order of the risk of non-payment which enables organisations to estimate and anticipate the payment behaviour of customers at an early stage.

Adjusting workflows based on debtor information
Once the customer’s risk profile is known, it becomes possible to adjust workflows directly to payment risk with the help of artificial intelligence. When it is predicted that a customer will not pay or pay too late, it is possible to immediately take the necessary actions. This saves the organisation time and limits exposure and unnecessary tasks, such as sending reminders or transferring it to collection agencies. Similarly, this avoids those customers who are shown to regularly pay on time being bothered unnecessarily.

“There is an enormous amount of data available both within and outside organisations, which is currently not being used,” says Daniel van den Hoven, VP Alliances & Partners at Onguard. “With all available data, organisations can better understand customers. In addition, credit managers see at a glance which customer needs extra attention and can easily prioritise. The advantage for the organisation is that there is more focus on high-risk customers and that the processing time for invoices becomes shorter.”

Thanks to the collaboration between Quantforce, Altares Dun & Bradstreet and Onguard, it is possible for businesses to predict in advance whether and when customers will pay. This is beneficial for both the organisation and the customer because immediate action can be taken to find a solution when a payment fails. In this way, credit management is organised more proactively and efficiently

Rob Berting, Managing Director of Quantforce adds: “The collaboration between these three parties from the same market is logical. All three have our own expertise and because we have joined forces, we can offer even more value to the customer. Quantforce assigns the scores on the basis of proven algorithms and also applies machine learning. This makes it possible to automatically adjust workflows on the Onguard platform to the debtor risk. In this way Onguard can optimally support the customer and their debtors in the order-to-cash process.”

Adriaan Kom, Director Partnerships at Altares Dun & Bradstreet: “We place great value on the customer relationship and thanks to this collaboration we can add even more value to the customer. The combination of data gives organisations an insight into how a debtor will behave in the near and distant future. In this way a company gains a more in-depth understanding of the customer which will elevate the business to a higher level.”

About Onguard

Over the past 25 years, Onguard has grown from a specialist in credit management software to a market leader in innovative solutions in the field of order to cash. The integrated platform ensures that all processes in the order-to-cash chain are optimally linked and that critical data can be shared. Intelligent tools which interface seamlessly combine to provide an overview and control of the payment process and help build lasting customer relationships. Users in over 50 countries worldwide work with the Onguard platform on a daily basis to achieve successful management and tangible results in Order to Cash and Credit Management. Read more at http://onguard.com/.