HONG KONG, May 22, 2020 /PRNewswire/ -- Velotrade, a web-based invoice financing service provider, has turned to Dun & Bradstreet, a global leader in commercial data and analytics, to use its global database to enable comprehensive, real-time analysis of customer finances and support new business generation.
Velotrade is utilising D&B Credit and D&B Hoovers to maintain momentum in the challenging business environment and incipient global recession that has been triggered by the COVID-19 virus.
"Our role is to provide the trade finance instruments necessary for buyers and sellers to continue their import & export activities. However, in a supply chain heavily disrupted by COVID-19, the financial health of companies is constantly changing," said Gianluca Pizzituti, CEO of Velotrade. "Data and analytics tools are essential to overcoming uncertainty and we are confident that Dun & Bradstreet's actionable data will contribute to our business success."
D&B Credit helps businesses to manage global credit risk and drive profitable growth by providing cloud-based access to an extensive network of commercial trade data network, which includes accounts receivable data reports from 16,000 companies across 700 different industries. Historical information helps to forecast how quickly a company is likely to pay its bills and this data is critical when determining credit limits and lending terms. The information can be accessed via a customisable interface, which provides powerful segmentation tools, personalised global alerts, configurable credit reports and additional business insights.
D&B Hoovers enables sales and marketing professionals to take a more strategic approach to revenue growth by boosting industry insight, leveraging market intelligence and delivering an in-depth financial understanding of individual prospects to better target qualified new business opportunities.
"Using data to make decisions has never been so important and Dun & Bradstreet has long-established expertise in providing data and insights to help improve the performance of companies across all industries," explains Sam Tidswell-Norrish, EVP and International CMO at Dun & Bradstreet. "Hong Kong is a key international financial centre, and we are delighted to be working with Velotrade to deliver commercial data and analytics to support risk and compliance management, and to provide sales and marketing tools that serve as a business growth engine. We also look forward to deepening our partnership with Cyberport, an important convening force for collaboration during these times."
Dun & Bradstreet was introduced to Velotrade via its partnership with Cyberport - a hub for Hong Kong's technology industry that hosts around 1,500 tech companies, including Velotrade - and worked with both companies to identify how data and analytics could help drive growth against a challenging macro-economic backdrop.
"During these difficult times, many members of our digital startup community face diverse challenges that must be overcome to ensure successful growth to maturity. One fundamental challenge involves building traction in the local and international marketplace, and it is here that an experienced and trusted partner such as Dun & Bradstreet can help to play an important role by promoting the widespread adoption of data and analytics tools," said Peter Yan, CEO of Cyberport Management Company Limited.
About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet's Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information, please go to www.dnb.com.hk.
About Velotrade
Velotrade is an Internet-based platform for businesses of all sizes to finance their cash flow needs using their outstanding invoices. Recognising that invoices as trade receivables represent a financial asset, businesses can use Velotrade to access funds by securing advance payment from participating investors. Companies apply for inclusion on the Velotrade platform and upon approval may upload invoices for investors to finance on a per-invoice basis. Backed by a Type 1 SFC licence, Velotrade provides leading financial institutions with access to new investment opportunities in the developing alternative asset class of Account Receivables Financing. The company is headquartered in Hong Kong where it is regulated by the Securities and Futures Commission (SFC). Learn more at www.velotrade.com.
