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Really interesting to see these guys sweep in to the UK to take advantage of the UK government's shift to eInvoiceing and then seemingly package up the [effectively] government backed debt into an AA+ factoring business.
In addition to creating greater efficiencies by eliminating paper invoicing, the goal of the partnership is to help shorten the time it takes to get NHS suppliers paid. This echoes what Tradeshift CEO and co-founder Christian Lanng said during his FinovateSpring appearance in 2012, highlighting the fact that too many companies are going bankrupt because their customers fail to pay. And while this specific issue may be less of a challenge for Britain's National Health Service - or for some of Tradeshift's other sizable customers like DHL, Intuit, and the government of France - it does underscore how technology can help solve problems of higher credit costs, lengthening payment terms, and access to funding.
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