{"id":45945,"date":"2021-12-01T16:00:00","date_gmt":"2021-12-01T16:00:00","guid":{"rendered":"https:\/\/dev.solifi.com\/blog\/access-data-quickly-with-data-streaming\/"},"modified":"2024-04-12T08:44:15","modified_gmt":"2024-04-12T07:44:15","slug":"access-data-quickly-with-data-streaming","status":"publish","type":"blog","link":"https:\/\/www.solifi.com\/de\/blog\/access-data-quickly-with-data-streaming\/","title":{"rendered":"Access data quickly with data streaming"},"content":{"rendered":"\n

In this five-part blog series, we identify the top four challenges working capital* finance lenders face and how software-as-a-service (SaaS) technology can help you overcome those challenges today and futureproof your business for tomorrow.<\/em><\/p>\n\n\n\n

Part 4 in this series focuses on why it\u2019s important for working capital finance lenders to adopt SaaS technology and data streaming now to set the stage for sustained growth and competitor differentiation.   <\/em><\/p>\n\n\n\n

*For simplicity, we generally define working capital as invoice finance and asset-based lending (ABL) finance. Invoice finance includes recourse and non-recourse factoring, invoice discounting, and shadow ledgering. Asset-based lending finance includes accounts receivable, inventory, equipment, and term-loan lending. The structure of these working capital finance lending arrangements varies regionally.<\/em><\/p>\n\n\n\n

How data streaming can prepare working capital lenders for Industry 4.0<\/h2>\n\n\n\n

Fun fact: 90% of the world\u2019s data in its entire history was created over the past two years.<\/p>\n\n\n\n

Take a moment and let that sink in. Talk about information overload. And data is only expected to grow exponentially over the coming years.<\/p>\n\n\n\n

Not-so-fun fact: Accessing meaningful and near real-time data quickly from multiple sources is one of the most common challenges working capital firms face today.<\/p>\n\n\n\n

While access to vast amounts of data from many sources is a good thing, it can get overwhelming especially when attempting to figure out what to do with it. How do you best leverage and capitalize on this valuable information? The answer is data streaming \u2013 data continuously generated by different sources in near real-time.<\/p>\n\n\n\n

Let\u2019s take a step back to better understand why this influx of data is happening now. Learn how access to data with data streaming can grow your business, differentiate from your competition, and create a better experience for your customers. Additionally, this post explains how data streaming can help prepare you for what\u2019s known as Industry 4.0.<\/p>\n\n\n\n

What working capital lenders need to know about Industry 4.0<\/h2>\n\n\n\n

While we all know data is power, why is there a greater sense of urgency right now?<\/p>\n\n\n\n

We are now living in the early stage of what is known as Industry 4.0 or the fourth wave of the industrial revolution. We\u2019re more connected now than any other time in history. And that connectivity continues to mature rapidly.<\/p>\n\n\n\n

When we think about the industrial revolution, images of innovations from previous centuries come to mind \u2013 steam power, factories, the assembly line. The fourth industrial revolution \u2013 unlike its predecessors \u2013 knows no boundaries and is evolving at an exponential rate rather than a linear pace.<\/p>\n\n\n\n

One example of Industry 4.0 that we can all relate to is what the market calls IoT \u2013 or the internet of things. There\u2019s a growing network of internet-enabled and connected devices that we use every day. Examples include mobile devices, fitness trackers, automobiles, security systems, farm machinery, etc.<\/p>\n\n\n\n

Experts say the full strength of the fourth industrial wave will arrive within a generation \u2013 in less than 25 years. While that may seem far away, the secured finance industry is already warranting data insights today.<\/p>\n\n\n\n

What is driving the exponential growth in data right now?<\/h2>\n\n\n\n

Two macro trends in technology came together at the same time: data creation and capture and cloud computing. This pairing drove the cost of big data down dramatically so that all companies of all sizes could access data more quickly.<\/p>\n\n\n\n

As we emerge from the pandemic and anticipate the fourth industrial phase, the leaders in the working capital industry will be those who embrace digital transformation now and the ones who can most effectively leverage data.<\/p>\n\n\n\n

Discover hidden insights with SaaS and data streaming in real time<\/h2>\n\n\n\n

So how can you plan for this future Industry 4.0 with data coming at you in all directions?   <\/p>\n\n\n\n

Accessing your data in near real-time is your most powerful tool as a working capital lender. But even more important is accessing the right data in a sea of information. You need data insights readily available and structured to cut through the noise and lift hidden insights to guide your business decisions and better serve your customers.  <\/p>\n\n\n\n

Another not-so-fun fact: Most working capital organizations (asset-based lenders\/ABL and factors) are not ready for that explosive growth. They are not set up with the proper technology to make it happen.<\/p>\n\n\n\n

While data continues to grow every single day from every direction, you can get ahead of the pace of change with the right technology.<\/p>\n\n\n\n

Data streaming is the solution for working capital lenders to access data quickly. And Solifi\u2019s SaaS technology is the perfect model to enable you to receive data in the format you need in near real-time. You\u2019ll experience tremendous efficiency through highly evolved artificial intelligence and machine learning that processes all data and flags exceptions for staff resolution through dynamic workflow queues.<\/p>\n\n\n\n

We want you to be at the forefront of all that change. And with SaaS technology, it doesn\u2019t matter the size of your company. It\u2019s all about the speed in an Industry 4.0 world.<\/p>\n\n\n\n

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\u201cIn the new world, it is not the big fish which eats the small fish. It\u2019s the fast fish which eats the slow fish.\u201d <\/p>\n\u2013 Professor Klaus Schwab; Founder and Executive Chairman, World Economic Forum<\/em><\/cite><\/blockquote>\n\n\n\n

Before the pandemic, technology leaders in the working capital sector were growing twice as much as late adopters. Over the past three years, those technology leaders are growing as much as five times faster. And they are relying on SaaS technology and data streaming to help them make the right decisions faster.<\/p>\n\n\n\n

SaaS-based data streaming solves common pain points for working capital lenders<\/h2>\n\n\n\n

Solifi data streaming provides:<\/p>\n\n\n\n