January 21 2016
The Impact of Technology and Big Data on Business Funding, Business.com Featuring Steve Sadler
Technological advances and the expansion of big data are impacting nearly every facet of business, including the loan process.
Business.com recently took on this topic, utilizing Allegiancy CEO Steve Sadler’s experience to better explain technology’s impact.
In a matter of speaking, according to the article, which can be read in its entirety here, it’s the beginning of a revolution.
“Rapid access to operating information, account data, workflows, order flows and market intel are important competitive advantages and savvy lenders and investors understand this,” Sadler told Business.com.
According to Business.com, there is a great deal of technology currently available that can be integrated with business operations to vastly improve operating performance. Think Customer Relationship Management software like Salesforce or Pipedrive designed to track the sales pipeline. By embracing the cloud to store data, even small business owners can get into the game.
Capital markets are in a state of evolution and it’s important to be aware of how things are changing. The JOBs Act, or Jumpstart Our Business Startups Act, is a law intended to encourage funding of United States small businesses. It eases various securities regulations and was signed into law by President Barack Obama on April 5, 2012.
Along with crowdfunding and alternative lending, the new law will have a dramatic impact on the democratization of capital. Funding is becoming more readily available to small and medium-sized enterprises. Technology and big data are helping along the way.
“As transaction costs are reduced,” Sadler explains, “capital can efficiently flow to younger companies and I expect we will see a stunning return of dynamism to our moribund entrepreneurial ranks.”
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