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07 May 2009
A credit information service for small businesses will launch this summer, providing lenders and credit insurers with access to up-to-date management accounts for the first time.
The offering from credit reference agency Graydon and Validis, the online software provider who launched a new product with Accountancy Age last week, is the first of its kind.
SMEs will be able to use the Validis software to validate and analyse their monthly management accounts with the information converted into a common format, to produce standardised feeds.
The validated information is then sent to Graydon and incorporated into its existing credit information database.
Stephen Alambritis, head of public affairs at the Federation of Small Businesses, said: ‘Last month the chancellor’s budget put in place a really useful top-up trade credit insurance scheme. This service will definitely come to the rescue of many firms wanting to access both finance and credit insurance cover.’
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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