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VendorMach meets with Professor Ed Altman at NYU Stern

In AI, Big Data, Invoices, Machine learning, SMB, Trust Score by VendorMach

VendorMach met with Professor Altman at NYU Stern to get insights on the widely used industry Z Score model while discussing approaches to the VendorMach Trust Score. While the Z score is designed for public companies, (and our focus is private companies (and SMB’s)), particularly interesting is that considering the era when it was built, it remains a relevant reference point to understand. The Z score looks mostly at company fundamentals (balance sheet, P&L, cash flow statement, income statement), stock prices and then assigns a value in an attempt to predict bankruptcy. Fortunately, there’s millions of historical and timely data …

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VendorMach In The American Banker

In News by VendorMach

At the demo day of SBC Fintech accelerator program, VendorMach was cited in the American Banker as ‘the software designed to monitor banks’ vendors for signs of liquidity risk, data breaches and other potential issues’. Read more Here

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Can KYC And KYS Ever Be Fully Automated?

In KYC by VendorMach

The first thing that comes to mind when one thinks of know-your-customer (KYC) initiatives is the complexity around anti-money laundering (AML) regulations. Generally, the more one can reduce complexity, the better. When it comes to KYC this boils down to reducing the amount of employee time spent on such tasks in order to free people’s time for more productive work. Recent intelligence from KPMG estimate the amount that larger financial institutions spend on their AML screening alone has risen at an average rate of 53%. KYC is no longer about verifying and monitoring customers of the financial institution (FI) but …

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Trust And Regulation In Transactional Marketplaces

In KYC, Regulation, SMB by VendorMach

The US Treasury released a White Paper on the $1T US online marketplace lending market. The report released in a pivotal week comes amid several macro economic factors such as: Rising interest rates and higher default rates. Recent P2P public market entrants and diminishing loan interests from retail investors. P2P market maturity and resulting securitization. Jobs Act Title III going live in days (May 16) for main street Americans and the flurry of niche platforms that are on their way. Recent non disclosure and malpractice (trust related) events at Lending Club. The White Paper outlined the following recommendations: More transparent …

VendorMach Featured On CrowdFund Insider

In News by VendorMach

VendorMach, currently one of 10 companies in SBC Fintech accelerator in New York City was featured on CrowdFund Insider. The article talks about targeting issues such as thin files on vendors, trust and regulatory know your third party requirements. Read the article here

Selected To The UK Crown Digital Supplier Marketplace

In Big Data, Machine learning, News by VendorMach

We have been selected as a preferred supplier to the UK government digital marketplace under the digital outcomes and specialists framework. As part of the framework, we are offering data-driven performance management solutions which include data aggregation and machine learning training as it relates to your purchasing and finance departments. Here is more information about it and how we can help you if you are in the UK public sector. To learn more about us, please send us a note at service@vendormach.com or call us at +44 20 3290 3314

Interview At IECT In Austria

In News by VendorMach

Ojinnaka filmed giving tips on starting a business and commercialization at the Institute for Entrepreneurship, Cambridge – Tirol in Austria. See the Interview

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Your Top 4 New Year’s Resolutions To Growth

In SMB by VendorMach

Monitor your Brand Online Google your company periodically and note what’s on the first page. The first place to start with monitoring your brand is the content on your website and social media assets. Then check the highly trafficked company directory platforms. Often, they will have misleading or incorrect information about your company. To combat that and ultimately improve sales inbounds, use your most trusted monitoring and lead gen tools to proactively monitor, track and communicate accordingly Increase your Balance Sheet The market will likely contract, even if slightly (rates are already on their way up). So minimize the spend. …

Four Key Steps In Running Your SMB Business Based On Metrics

In News by VendorMach

David Teten of FF Venture Capital summarizes in this article how to run a company based on metrics. In his post, he argues that: The best CEOs run their companies by their metrics. But for many CEOs, that is not their natural inclination. It means looking at numbers all day instead of people. And it means holding yourself and others rigorously accountable, which can be painful For those of you CFOs, we summarize with relevant quotes, 4 key points to running a business by metrics Have a Management Dashboard  Prefer to see a screenshot of an internal dashboard, not something …

Big Data Trend: Data Scientist Or Statistician?

In News by VendorMach

Ojinnaka, Founder/CEO of ChalkRow in an article on Tech Cocktail clarifies the evolution of the Data Scientist’s role in the big data economy. “While big data and data science is a little ahead in the US, it’s largely developmental in Europe. Salaries shed some insight. KD Nuggets ran a poll in 2014 that shed light on salaries. The average data scientist’s salary in the US according to the survey is $137K. In Europe, it’s $78K. While there were limitations in the data, (only 20% response rate in Europe), what was interesting in the data is the lift in salary between …