Know-it, the all-in-one credit control solution, is making waves once again with the release of our new mobile app.
Now users will receive live credit management updates via the app so you are always kept in the know. The app will notify users for things such as changes to a customer’s credit report, alerts to potential customer risks including liquidations or insolvencies and updates on their commercial debt recovery cases on the go.
The arrival of Know-it has come at a critical time for businesses. Soaring company insolvencies, hiked interest rates and inflation are all contributing to the dramatic increase in businesses not having invoices paid on time, with the average SME having £68,413 owed to them in unpaid invoices.
Know-it CEO & Founder Lynne Darcey Quigley says “We are currently in the midst of a late payment crisis engulfing British SMEs.
We’re seeing double digit growth in the number of businesses going insolvent on a monthly basis, with some recent figures showing 40% more businesses failing compared to last year.
As businesses continue to be squeezed with higher interest rates and inflation not falling as expected businesses must do everything they can to protect their cashflow.”
The Know-it platform was built to make credit control accessible for businesses of all sizes. Know-it automates all critical elements of credit control, freeing up more time for businesses and allowing them to easily implement credit management into their existing processes.
Lynne Darcey Quigley adds “Our mission is to democratise credit control so more smaller businesses are armed with the necessary tools and data for robust credit management so they can make more informed credit decisions, reduce debtor days and boost cashflow during this challenging time.
Developing the mobile app will help keep business owners and credit controllers in the loop regarding their credit control so they can make decisions and take action quicker.”