Wednesday, February 21, 2024

Hi-Tech

Hi-tech refers to advanced technology that is changing the way that we work. One branch of hi-tech is financial technology or 'fintech' that deals specifically with financial tasks. Similarly 'insuretech' deals with automating insurance processes.The purpose of all computer technology is to work smarter and more efficiently. Hi-tech is increasingly reducing human error and is such is driving better outcomes especially in the area of invoice finance. From matching invoices to payments, to analysing complex data sets, to providing up-to-the-minute reporting hi-tech is revolutionising factoring, reverse factoring, asset based lending and securitisation.There is a growing number of companies offering a suite of software services, many cloud-based, that are helping companies better manage their businesses.Platforms that bring together accounting software, ERP software as well as automation in invoice handling are currently the main type of program being offered by the companies listed on this page. Some technology companies deal with specific technical areas such as digitalising invoices and formatting communication so that it is machine-readable.With the continued breakthroughs in artificial intelligence combined with the possibility of using automated 'oracles' to feed in live data there is much that this technology can yet deliver for businesses. Moreover, we now have decentralised ledger technology that secures data and allows for full transparency.As a useful addition to this list we are reaching out to software providers to give their take on how hi-tech offerings can help businesses, as well as their thoughts on related topics such as ESG and blockchain technology.

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