Know-it Partners with VFD Pro to Simplify Accountants’ Advisory Services & Reduce Late Payments
Glasgow cloud-based credit management platform Know-it has partnered with London-based VFD Pro, in a bid to simplify the credit management process for customers across the globe.
As the business maxim goes, ‘Sales is Vanity, Profit is Sanity, but Cash is Reality.’ It is insufficient cashflow that lies at the root cause of most business failures.
With VFD Pro, the Virtual Finance Director, business performance and financial health can be analyzed, evaluated, and reported entirely automatically. Thus, teams save time, allowing them to focus on delivering value for clients at a time when they need it most.
Steve Darnell, Director at VFD Pro explains:
“Business owners aim to maintain financial health, improve return on investment (ROI), and keep customers happy; Know-it offers the right financial tools and innovative technology to achieve these goals.
As a result of the collaboration, our organization can continue to process and extract data, while generating detailed, accurate management reports in real-time.”
The Know-it platform provides accountants with the ability to mitigate credit risk, reduce debtor days, and increase cashflow. This is particularly important at a time when we are about so see a massive spike in the number of businesses about to fail due to Covid lending repayments, the recent rise in inflation, interest rates, and costs.
Know-it's automated credit management solution allows business credit checks, monitoring changes, automating payment chasing, and collecting overdue unpaid invoices all in one easy-to-use platform.
“Both Know-it and VFD Pro place data and automation at the core of our businesses,” said Darnell. “The mutual appreciation we have for the power of data was key to sparking the partnership. We want to offer clients as much insight as possible as this will result in optimal decision-making to be executed.”
Lynne Darcey Quigley, Founder & CEO of Know-it, commented:
“Effective credit management is critical to running a successful business. Accountants are in a position to provide even more value to their clients by offering credit control as an outsourced solution, with the help of technology and automation making it even more accessible to SMEs.
This partnership will help bridge the gap between SMEs and the large, financial-heavyweights of the business world. Data reigns supreme in today’s working world and SMEs are now able to take advantage of what’s on offer even though their pockets may not be as deep as their competitors.”
The two companies stress that there’s a real synergy between Know-it and VFD Pro. Know-it streamlines the credit control process so you can credit check and monitor, chase for payment, collect overdue unpaid invoices, and more all from one place. VFD Pro will play a crucial role in distributing Know-it to organizations who will truly benefit from an all-in-one credit management solution.”
“Our partnership with VFD Pro will ensure Know-it can help even more SMEs get paid quicker and improve their cashflow,” Lynne said.