Financial data sharing and standardization technology company
automates reconciliation process for lenders offering confidential
AUSTIN, Texas–(BUSINESS WIRE)–Validis,
a pioneer of financial data sharing and standardization technology, has
extended its product line to include DataShare Reconciliation, a unique
solution that automates the month-end reconciliation process for lenders
offering Confidential Invoice Discounting (CID) to small and medium size
A key challenge facing lenders that offer CID is establishing an
effective flow of accurate financial data to mitigate portfolio risk.
The solution’s fully customizable, intelligent parameter setting and
easy workflow management enhance a lender’s ability to match an SMB’s
invoice schedule efficiently.
DataShare Reconciliation drastically reduces the time it takes to
prepare, submit and review invoice schedules at the end of the month.
And, by rapidly sharing their financial data digitally with their
lender, SMBs have seen time savings of as much as 90% over previous
“DataShare Reconciliation is a real game changer for lenders offering
CID and the small businesses they lend to,” said Joel Curry, CEO of
Validis. “We’re seeing preparation time for invoice reconciliation
dropping by as much as 90%. That means SMBs can concentrate on running
their businesses rather than preparing financial updates for their bank.
For lenders, less time chasing their client’s financial data and
manually matching invoices means they can focus more time on risk
monitoring within their portfolio.”
Led by experienced and influential finance and
technology experts, with headquarters in the United Kingdom and offices
in North America, our mission is to be the place where businesses come
to share financial data. Validis provides a data pipe for commercial
lenders and accountants to their clients’ accounting application. The
technology collects financial data from a business’ accounting
application and transforms that data into a standardized format,
empowering commercial lenders and accountants with fast and secure
access to financial data. The system connects to online and desktop
accounting applications used by 80 percent of the SMB market, and is
currently used by 80 percent of the tier one banks in the U.K. and three
of the big four accounting firms. For more information, please visit www.validis.com.