UNBIAS makes it possible for sellers and buyers to exchange invoice status information in a secure and standardised way. Also parties that do not (yet) have a trade relation and do not know each other very well can exchange information in a trusted way. This is made possible by the central onboarding procedure of UNBIAS and by making sure information registered on the UNBIAS blockchain is only readable by authorised people. As a user, you are in control who can read your data.
Nowadays, small and medium sized enterprises (SMEs) are strongly dependent on payment terms for managing their liquidity position. Invoices can take as long as 90 days to be settled. During this period of time, the supplier has much uncertainty whether the invoice is accepted and when payment can be expected. This makes it difficult to predict future cash flow and to know if finance is needed to fulfil obligations. This is particularly troubling for SMEs, as they have limited financial reserves.
By enabling the sharing of invoice status information, SMEs are better able to predict future cash flow. They can therefore better determine if an alternative way of finance is needed to continue a steady course of business.
Curious to find out how your organisation can benefit from UNBIAS? Send an e-mail to firstname.lastname@example.org to find out more.