Q&A Series Question 2 – Why is there an Increase in Demand for Your Technology

by | May 23, 2019 | Series, Supply Chain Finance

Uber and Supply Chain Finance

The technology we use, in its most simple terms, is cloud technology. And this technology is revolutionizing the way all business is being done. I like to think of it as “Uber-izing” technology assets. My meaning for “Uber-ize” is that more and more it’s becoming true that big assets don’t have to be owned and managed to benefit from them. For example, instead of owning a car and leaving it sitting in the garage most of the time, now a person can Uber to wherever they want to go and pay only for their shared use of the asset. The same trend has taken place in IT assets. Originally, companies owned and operated their entire data centers including redundant utilities and security. Then companies transitioned to co-lo’s, where companies rented the space and continued to pay for utilities and redundant power.

But, now the cloud allows companies to timeshare on the facilities and not become bogged down by ownership. The same trend is coming to software in the form of cloud-based “platforms” that eliminate the need to build and own the platform portion of an application. With ArtisPay, we use cloud technology to provide a powerful platform for banks/lenders, clients and their suppliers; a platform that allows them to participate in a robust Supply Chain Finance program with a few clicks of a mouse and at essentially no cost to banks or lenders and their clients.

This means that middle and small market banks/lenders and companies that historically could not offer or participate in a Supply Chain Finance program because the program was cost and/or resource prohibitive can now do so. Technology is making it possible to share in the usage of assets instead of owning them, which is a way for companies to become more capital efficient. The point is, this technology is making it possible for banks and lenders to offer an incredibly powerful and valuable tool, ArtisPay, to their clients at no cost. That is why there is a tremendous demand for this technology.