Technology Archive

Artificial Intelligence (AI) is transforming the construction industry by revolutionizing how projects are designed, managed and executed. Through advanced machine learning, data analytics and automation, AI enhances efficiency, reduces costs and improves safety on job sites.

Automation and technological advancements have gained a significant presence in everyday credit processes—whether to provide easier ways to receive payments, communication with customers or overall efficiency. However, technological innovations always come with risk.

Breakthroughs in technology over recent decades have ranged from the World Wide Web and personal computers to wireless phones and now apps for everything; all transforming the world we all once knew. Oftentimes, new discoveries and advancements are met with skeptical thoughts.

While the concept of Buy Now, Pay Later (BNPL) isn’t novel in the B2C industry, it’s gaining traction among B2B buyers, reshaping commerce. By the numbers: A Juniper Research report found that in 2023, the B2B BNPL market reached $14 billion in spend globally. 

AI is a rapidly evolving technology that has the potential to greatly benefit various industries and professionals. However, this article aims to clarify several common misconceptions about the use of AI in B2B credit and related industries. #1 “AI will replace my job.” This misconception stems from the widespread fear that AI will replace human jobs, rendering many roles obsolete and leading to significant unemployment. However, this is not the case, as history has shown that innovation such as the move from desktop solutions to client servers or the introduction of Business Process Au…

Notarization ensures the authenticity and integrity of important documents, preventing potential fraud and forgery. With the advent of electronic notarization (or e-notarization), organizations can now have documents notarized in a more efficient, secure and convenient manner. Why it matters: Understanding and implementing e-notarization can streamline the authentication process for vital construction credit documents, enhancing efficiency and reducing potential delays in project timelines. Notarization is a process that authenticates signatures, ensuring signers are who they say they…

Automation is at its all-time high across industries. B2B credit departments are considering implementing new technology and tools to better service their customers. Whether through ACH payments, online payment portals or the help of AI, credit professionals must know the most effective ways to use automation to their advantage. For example, using automation software to complete the more repetitive or mundane tasks can help save time and allow staff to focus on other areas that need attention. According to a recent eNews poll, 17% of credit professionals are looking for an automation …

Private equity (PE) refers to investments made into private companies by partnerships, which buy, manage and sell these companies. These partnerships, known as private equity firms, run these investment funds for institutional and accredited investors. Why it matters: Understanding the role of private equity groups can help predict potential credit risks and inform investment decisions for both institutional and accredited investors. Pros of private equity Access to capital: Private equity groups grant companies access to capital that it may not be able to raise on its own. Sca…