Glasgow-based fintech Know-it has launched a new national TV ad campaign in partnership with STV.

Having won the prestigious Startup Summit award, Know-it were awarded airtime on STV to reach a national audience on primetime television.

Know-it is a cloud-based credit management platform that streamlines the complete credit control process, enabling users to credit check and monitor, chase for payment, collect overdue unpaid invoices and more, working with the likes of Creditsafe, Companies House, The Gazette, Unsecured Creditors, Darcey Quigley & Co, Xero, Sage, QuickBooks, and FreeAgent.

The new ad campaign is now live and will run through the month of May during peak times to build their brand and educate viewers on the all-in-one credit control platform.

We are in the midst of a late payment crisis engulfing businesses with the average SME having £68,413 owed to them in unpaid invoices. The problem is much closer to home, with Scottish firms having over 1.2 million overdue invoices on their books at the end of 2022 according to insolvency and restructuring trade body R3.

The hope is that the new TV campaign will help educate SMEs that there is an affordable and accessible solution to late payments.

Know-it Founder & CEO Lynne Darcey Quigley says “I’d like to take this opportunity to thank Startup Summit and STV for this fantastic opportunity.

We are seeing huge swathes of company insolvencies every month with the number of companies failing soaring at an alarming rate.

If businesses do not keep on top of their credit control, they run a very real risk of becoming another statistic.

Having worked in the credit industry for over 25 years I have seen SMEs make the same mistakes with their credit control time and time again, resulting in them making poor credit decisions which lead to invoices not being paid, resulting in cashflow issues.

The tools required for credit control were previously very expensive for SMEs and had long contracts. Not to mention how time consuming following a credit control process for each customer can be.

Know-it alleviates these pain points by making the platform easily accessible, being free to sign up and not having any contract or tie-ins.

The platform automates the credit control process which saves businesses valuable time, something most SMEs do not have enough of!”

Startup Summit Founder Bruce Walker adds “We were absolutely delighted that Know-it won the Startup Summit competition in 2021 and have been able to tap into the prize from STV to create a national TV advert.

A fantastic way to identify really exciting businesses and provide a platform for national exposure through our partners at STV – we look forward to seeing the ad go live!”

Danielle Kelly, Director of Strategy and Sales Scotland at STV says “It’s fantastic to see Know-it’s campaign on-air after a very well deserved Start-up Summit competition win. We’re proud to help SMEs reach large audiences through our STV Growth Fund gifted airtime memberships, helping them to drive their own businesses and in turn, boost the Scottish economy.”

Lynne adds “Maintaining a healthy cashflow has never been so critical and the Know-it platform is a cloud-based solution that will help SMEs mitigate credit risk, reduce debtor days and boost their cashflow by automating the complete credit control process.”

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