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Business intelligence company CubeLogic has announced its support for Trade Credit Insurance as part of an overall riskmitigation strategy. ” The company noted while it supported the use of Trade Credit Insurance, the tool should not be used as a replacement for broad riskmitigation strategies.
The continuing reliance on manual processes also plagues the remittance notices and paymentissue resolution processes, the report added. Tipalti also found, interestingly, that the error rate of manual data entry in this area is quite low — just 1 percent for companies that remit more than 500 payments a month.
Both sides must consider Anti-Money Laundering (AML) compliance and other regulatory risks in their business relationships, too. Riskmitigation is only one component of an immensely complex process that results in the right buyers and suppliers connecting with each other. ” Saporito said.
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