All-in-one credit management platform Know-it partners with Creditsafe
Creditsafe, the global business intelligence experts, have today announced a new partnership with Know-it, the all-in-one credit control solution for SMEs, that will help UK businesses mitigate credit risk and reduce the instances of late payment through a single source of reporting.
SMEs in the UK are currently chasing a combined £61bn in late payment, rising 22% in just one year. Know-it, founded by Lynne Darcey Quigley, who has successfully run UK leading commercial debt recovery company Darcey Quigley & Co for 15 years, recently launched this summer. This innovative cloud-based platform automates the complete credit control process for SMEs, mitigating credit risk, reducing debtor days and boosting cashflow.
Creditsafe, the world’s most used provider of online business credit reports, will now provide company credit data to Know-it users through the Check-it function of the platform. Check-it provides business credit reports and monitoring for current and prospective customers.
Data from Creditsafe can help businesses predict almost 70% of all insolvencies up to 12 months in advance. This intelligence, partnered with Unsecured Creditors data in the Know-it platform, will provide users with unparalleled financial data on the companies they do business with.
Nick Jones, UK & Ireland product director, added “We’re delighted to partner with Know-it, offering access to Creditsafe data and services to help streamline the credit control process for their clients. We are excited to see how the Know-it team can utilise the Creditsafe API and data within their platform, to help SMEs make more informed decisions, reduce their risk exposure, and improve their cashflow.”
Know-it founder & CEO Lynne Darcey Quigley adds “We are delighted to finally announce Creditsafe as a Know-it partner. Having clear, reliable, real-time credit data on the companies our customers do business with will empower them to make faster, more-accurate credit decisions. Understanding your customers is critical when offering credit terms so you can effectively mitigate credit risk and reduce instances of late payment. The cashflow problems that come with late payments are a national issue for SMEs, and we are determined to give businesses insight into who they do business with.
One of the reasons I founded Know-it was to make the tools required for better credit management more accessible for SMEs. Our partnership with Creditsafe means Know-it users can access single credit reports when they need them with no minimum term contract unlike other credit report providers. Know-it’s approach with Creditsafe gives flexibility to our users who can easily pull company credit reports as and when they need them, and only pay per credit report.
On top of this Know-it offers all the tools needed for a complete credit control process all in one single platform!”
