One of the main pain points for businesses applying for short-term financing is proving that they have a trustworthy financial history. Unfortunately, this is often not possible for a number of businesses. PayPie believes that these businesses aren’t to blame.
These days, information moves at the speed of light and many existing methods of review haven’t caught up. As a result, risk rankings are often inaccurate, especially when the data used for validation outdated or incorrect.
Most traditional methods use inefficient techniques to evaluate businesses. Usually, this approach involves very limited and often outdated information — which directly impacts the accuracy and reliability of the reports they provide.
This is why PayPie aims to provide a more representative risk score powered by blockchain technology. While blockchain is a buzzword-filled with many associations, in this context, it’s a platform for the seamless transfer of information.
You connect your accounting software — we use our unique algorithm to generate an assessment that’s more true to your business’ current financial health.*
PayPie’s fully automated risk assessment features a cutting-edge algorithm that analyzes your financials based on numerous data points taken from your own accounting software — information you already have on hand.
While many existing systems focus on one or two main metrics, a PayPie risk score (and its accompanying analytics) takes multiple indicators into account. Journal entries, debits and credits, bank account statements, average invoice size and payment rates and more are analyzed within seconds.
Your free PayPie risk score is a tool you can use to determine how others view your business in terms of trust and attractiveness. You may use your score to apply for fast, convenient invoice factoring (coming soon) or simply monitor your score as a measure of your own financial health.
Your assessment is free and you can check your score as often as you’d like to see how your financials are changing.