Formsome Introduces New Business Directory with Credit Score Integration to Transform Late Payment Practices
- Written by Newsfile
Formsome launches New Business Directory to ease the process of Late Payment Practices.
London, United Kingdom--(Newsfile Corp. - August 17, 2023) - Formsome, the pioneering business directory encompassing a vast network of over 36 million registered businesses across the United Kingdom, Singapore, Australia, and New Zealand, is proud to unveil an innovative, open-source business directory. This innovation is poised to reshape the landscape of business payment practices by leveraging authenticated creditor reviews and public data.
Formsome
In light of compelling research by MarketInvoice in 2017, which revealed that 62% of invoices from UK SMEs faced delays averaging 18 days beyond their specified due dates, the need for reform in this arena persists. The Federation of Small Businesses (FSB) further underscores the economic toll of such delays, amounting to a staggering £2.5 billion annually drained from the UK economy.
To address these lingering payment issues, Formsome's platform now seamlessly merges comprehensive registry data with validated creditor feedback, yielding an all-encompassing perspective on a company's payment reputation. This newfound clarity extends to parties engaged in contractual relationships with these enterprises, empowering them with invaluable insights.
The co-founder of Formsome, Jerry Canter, has expressed his views about the company's latest development by stating, "Formsome is dedicated to tackling the pervasive problem of business payment delays head-on."
Formsome combines registry data with creditor endorsements, providing a holistic portrait of a business's payment history. This treasure trove of data empowers parties entering into agreements with companies to navigate their engagements judiciously. This paradigm shift is a powerful incentive for businesses to prioritize payment punctuality, thus fostering a robust and ethical business environment.
Currently, Formsome extends its support to an extensive array of registered businesses across various jurisdictions:
Consequently, Formsome welcomes affirmative and adverse payment reviews from diverse contributors, including freelancers, suppliers, employees, customers, landlords, and shareholders. Verified individuals are empowered to submit payment reviews on the platform, impacting a business's profile with anonymity intact.
About the Company - Formsome
Formsome has been meticulously designed to empower businesses by elevating their credit standing through astute management of their payment reputation. The platform offers a secure space for verified individuals transacting with registered companies to share their payment experiences while maintaining complete anonymity.
Furthermore, Formsome is armed with insights from its comprehensive reports, and business managers can promptly identify and address potential payment challenges. The platform underscores the importance of transparent sharing of payment experiences, effectively shedding light on a business's payment practices and fostering an enhanced payment culture within communities.
For additional details on Formsome's innovative approach, potential clients can visit the link: https://www.formsome.com[1].
Media Details:Company Name: FormsomeContact Person Name: Mira GoldsmithContact Email Address: mira.goodsmith@formsome.comCountry: United StatesCompany's Website: https://formsome.com[2][3]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177069[4]
References
- ^ https://www.formsome.com (api.newsfilecorp.com)
- ^ mira.goodsmith@formsome.com (www.newsfilecorp.com)
- ^ https://formsome.com (api.newsfilecorp.com)
- ^ https://www.newsfilecorp.com/release/177069 (api.newsfilecorp.com)