Jeri Murphy from Whichaddon interviews Steven Rendwick, who is the founder of a company named Satago. Satago is a debtor management, Credit risk, and credit control software which is a one-stop solution for all the cash flow related problems faced by your business. Satago is also a credit control add-on for Xero and the core tasks performed by Satago is debtor chasing CRM, Satago also provides credit risk data to their clients and then integrates this data into Xero.
Satago also finances its customers by instantly paying 85 per cent of the credit sale invoice value to its customers against some commission. The purpose of this financing service is to liberate the business owner from the headache of late payments.
Steven Rendwick in this interview explains further the features offered to their customers under the umbrella of Satago like Credit Risk Reporting, Invoice Finance, and Invoice Reminder CRM. Debtor chasing CRM feature is totally free and the best thing is that it can be used all around the world while two other features are paid and limited for UK based businesses due to limited availability of credit risk data.
Steven Rendwick also told us that he found the name of his company while searching a Latin dictionary and word Satago means “to satisfy customers”. The idea to build Satago came from Steven’s family construction business in which payment collection was really a big problem. Steven also told us that he did an MBA from Oxford University in 2011 and he raised some funding around to build a Satago prototype. Steven told that he got the chance to write an article for Time magazine which in turn brought huge traffic to their company website for sign up.
At the end of the talk, Steven announced that his team is going to focus mainly on the improvement of financing services provided by Satago due to growth potential in this sector. In future, the target market of Satago is Austrailia because it’s an advanced country in terms of cloud computing, there is a huge opportunity to grow in Austrailia. Apart from this, the availability of credit risk data is easy and the whole team of Satago is committed to working hard to prove their worth in the international market. According to the founder of Satago, they are not currently focusing on marketing rather they are busy giving demo’s to the accountants in accounting firms and also to their clients. The main goal of the Satago team is to make it easy for the customers to use the software while fulfilling the business needs efficiently.
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