Neil Deakin, Future Route - Credit Enabled

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Neil Deakin, Future Route - Credit Enabled

  1. 1. Enabling credit - through financial transparency<br />October 2010<br />
  2. 2. There is a gap between how businesses want to be assessed for credit, and reality <br />Businesses want..<br />Credit providers are..<br />Individual<br /><ul><li>To be judged on their individual circumstances
  3. 3. Reliant on general data, such as sector and age</li></ul>Up-to-date<br /><ul><li>Credit decisions based on current performance
  4. 4. Reliant on information from previous years</li></ul>Trusted<br /><ul><li>To use internal information that demonstrates viability
  5. 5. Insufficiently confident in unverified information</li></li></ul><li>Using CreditPal, businesses can demonstrate their credit-worthiness to preferred credit providers<br /><ul><li>CreditPal connects to the business’ accounting software, and sends an encrypted copy of the data to a secure online account.</li></ul>Upload<br /><ul><li>CreditPal automatically generates management accounts, and checks for accounting errors or omissions.</li></ul>Review<br /><ul><li>CreditPal gives businesses complete control over who their financial information is shared with, and over what is shared.</li></ul>Submit<br />
  6. 6. CreditPal automatically generates management accounts<br />“I’m very impressed with CreditPal, particularly the fact that I can generate up-to-date management information at the push of a button.”<br />
  7. 7. CreditPal checks for accounting errors or omissions<br />“I thought my data was fully up to date...but the CreditPal ‘traffic lights’ showed me that I had forgotten to post my wages.”<br />
  8. 8. Businesses are in complete control over who their information is shared with<br />“The service is very intuitive and gives me great visibility of all my transactions.”<br />
  9. 9. CreditPal can support access to credit in a number of different ways<br />How CreditPal helps<br />Real example<br /><ul><li>Can protect access to trade credit by resolving poor credit ratings.</li></ul>Credit ratings agencies<br /><ul><li>Can prevent the withdrawal of credit insurance cover.</li></ul>Credit insurers<br /><ul><li>Can support a new finance application, or protect financing.</li></ul>Finance providers<br /><ul><li>Can be used to show trusted suppliers that you are creditworthy.</li></ul>Your suppliers<br />?<br />
  10. 10. Because it supports business access to finance, CreditPal is heavily endorsed<br />“Small businesses ... ensure they access essential credit and finance on the best terms.”<br />“Complements Sage software - such as Sage 50 and Sage 200.”<br />“An important conduit through which businesses could supply.”<br />“It will be easier to access finance, reduce costs and purchase goods. It's that simple.”<br />“Credit managers have always wanted validated management accounts.”<br />“Catches errors and anomalies in any set of accounts…before it's too late.”<br />

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