Legendary Inv. Share Discussion Threads

[soupdragon55] 19/6/2018 07:56

Interesting how no-one elsewhere has picked up that Zak Mir has turned against Zaf, saying his valuations are duff.Why he didn't quiz Zaf more in the interviews if he thought this though is another question.

[soupdragon55] 19/6/2018 07:54

NHS purchasing patterns is a bit beyond my knowledge CI. Can't help with that one.

[professor pettigrew] 19/6/2018 07:12

Technologies and processes used across the supply chain currently are either fragmented or timely and labour intensive. The Edge4Health will change this and transform the experience for NHS organisations and their suppliers saving significant time and money.#supplychain pic.twitter.com/ZN5jNI0

[professor pettigrew] 19/6/2018 07:11

A jolly good morning to all LEG holders.

[professor knobhead] 18/6/2018 22:01

LEG is like the England football team. You just know its going to end in tears.

[professor pettigrew] 18/6/2018 13:42

Interesting information regarding Virtualstock's latest partner:-

Previse – AI Gives Invoicing Insight, Enables “Instant Payment”

By Peter Smith

We recently met up with co-founder and CEO Paul Christensen of Previse.

He’s a very smart Australian, a lawyer initially, who has worked in start-ups as well as in big investment banks, and also has a terrifying track record in “Quadrathlons”, although he claims his competitive days are over!

Another Previse co-founder is David Brown, who many moons ago was the brains behind Oxygen Finance, which itself has carved out a decent niche in supply chain finance programmes, principally in UK local government.

Previse looks on-track to be a success in that field but in a somewhat different niche, as an innovative provider of technology that enables early payment and supply chain finance programmes. It is based on a concept that is deceptively simple and yet can also somewhat head-spinning – well, for me anyway. But this is how I think of it.

Most supply chain finance is based on approved invoices. So once the source of finance knows an invoice is approved, the supplier can be offered immediate (or accelerated) payment, in return for a small fee or a discount taken off the invoiced amount. There are different options in terms of who provides the finance (it might be the customer organisation, banks, crowd-funding …) and how the costs and income are allocated and accounted for between the parties.

The basic concept though is that my invoice as a supplier has been approved, so would I like to accept my £1000 owed in 30 or 60 days’ time, based on my customer’s standard payment terms, or would I like maybe £980 or £990 immediately? But often, smaller suppliers miss out on the option, because both the on-boarding doesn’t scale to the tail suppliers and the risk assessment for the finance provider is pretty unsophisticated, so tends to favour the larger supplying firms – who ironically often need the cash less than smaller firms.

The “big idea” from Previse is this. Using clever artificial intelligence and machine learning algorithms, Previse can assess as soon as it is issued the likelihood of any given invoice being paid.

So that early payment can be offered to the supplier as soon as the invoice is issued – no need to wait until it is approved. The cost of the finance can also be adjusted based on the likelihood that the invoice will be paid.

This is a risk assessment tool really – if I have issued 100 previous invoices to Ford and they were all approved and paid, then the risk is low and I can be offered instant payment with only a small charge for the financing. If I am a new supplier, or there is a track record of invoice disputes between me and my customer, or indeed the buying organisation has some financial issues, then the risk factor could be very different – maybe the supplier won’t be offered early payment at all, or it might come with a greater fee attached.

With Previse, the decision for the funder is made very easy too. They can just set an acceptable point on the Previse assessment scale and agree to fund any invoice that scores better than this. The “income” created (i.e. the fee that the supplier pays for instant payment) is then split between the buying organisation, the funder and Previse. Suppliers can opt in (or out) of the scheme.

So Previse enables that early payment decision to be moved from the point of invoice approval to the point of issuing. Now anyone who has been around procurement a while (or indeed has supplied many different organisations) will know that in many cases, this is a big deal.

Most invoice delays and disputes (when they aren’t a deliberate sneaky tactic by the buying organisation simply to improve cash flow, of course) come because the customer “can’t find out who placed the order” or “we sent the invoice to the budget holder for approval and she’s gone on holiday”. The invoice is eventually paid, but the big gap is between issuing and approval, not between approval and payment.

Previse can be used with different ERP and e-Invoicing systems – as their website says, “Previse sits alongside funders’ existing payment technology. Its frictionless adoption requires no changes to either buyers’ or funders’ existing payment infrastructure or on-boarding of new processes or technologies.”

And the firm has already announced some interesting partnerships, including with Virtualstock. “Buyers can now manage their catalogues, contract pricing, inventory and purchases as well as track deliveries through Virtualstock’s The EdgeTM platform, while also ensuring their suppliers are paid instantly with Previse’s advanced machine learning technology and network of readily available funding”.

It is certainly an interesting addition to the early payments space, and we will watch the progress of Previse with interest. Just don’t challenge Christensen to a foot / cycle / swimming / kayaking race across the Scottish mountains …

[professor pettigrew] 18/6/2018 13:36

#Delivery could eclipse #pricing in the realm of the #consumer experience. Are you offering a full variety of flexible delivery options? If not talk to #Virtualstock now www.retailcustomerexper… #digitalsupplychain #supplychain #digitaltransformation #ecommerce pic.twitter.com/6rgxlMD

[chinese investor] 18/6/2018 12:53

A Win Win Situation !

Professor Goldenballs (LEG) 09 Nov 2016 - 06:05:53
Morning all, and a fantastic well done to Donald Trump.
The people hath spoken, at last the corrupt, crooked political liberal elite class have been scuppered.
What a win double - Brexit and Trump.
Don't forget, does our gold interest the power of good too.
Pettigrew Towers have been rocking all night.

[chinese investor] 18/6/2018 11:46

So there's no bulk buying mechanism with NHS VS ?
i.e. all the NHS Trusts getting together to purchase huge amounts !

[american idiot] 18/6/2018 11:15

Free 100 Plus1 coins for you for clicking this ADVFN link :-

[nhs buyer] 18/6/2018 09:49

Hilarious posts on Gargoyle's thread.

[professor pettigrew] 18/6/2018 09:27

Another vital cog in the wheel:-


Enjoy your first day Graham! Welcome to the @virtualstock team. lnkd.in/eJeagp9 pic.twitter.com/LVfSWyQ

[professor knobhead] 18/6/2018 08:06

I cant see vs being worth more than £10m, if that.
Look at what it does, and the practicalities of it.
Assuming I'm right, and I usually am, this gives LEG a proper valuation of 0.01p.

[chinese investor] 18/6/2018 07:49

I was thinking of LEG news !

[chinese investor] 18/6/2018 07:42

David,
What news do you think we'll be getting ?

[chinese investor] 18/6/2018 07:41

....Morning !

[professor pettigrew] 18/6/2018 07:37

The article regarding Lord Carter's original plan to save the NHS money was originally published in January 2015.

Note the sentence "There has been speculation it is undeliverable".

Well, in just three short years, it HAS been delivered. It has been delivered by VS, and is being rolled out to more and more trusts as we speak.

So, Virtualstock are reaching maturity in NHS health care savings (and they are mopping up more - smaller - contracts in retail.

Watch out for German news, European expansion, New York office opening and plans for US retailing.

[professor pettigrew] 18/6/2018 07:34

Virtualstock's business model is quite clever. "The Edge4Health" is basically installed free to trusts, but VS make their money from each click and order, which is the same as "The Edge".

"The EdgeConnect", their new updated platform (which I presume will be used when they secure the German contract with "a major retailer" will be based on the same model.

It's a clever business model, as it encourages retailers and health trusts to trial the technology at little or no risk, but VS then reap the rewards via usage.

Remember, online shopping is increasing exponentially, so VS's turnover and therefore eventual profits will be growing at the same rate.

[professor pettigrew] 18/6/2018 07:23

It's been dubbed the most ambitious ever plan for efficiency savings in the NHS. There has been speculation that it is undeliverable.

But amid all the debate about the planned £22bn of annual savings by 2020 in the NHS in England, one man has been rooting around the system working out how some of it might be achieved.

Now he has come up with a new set of proposals, some surprising, some controversial.

Lord Patrick Carter, a Labour peer as it happens, is advising Health Secretary Jeremy Hunt on how hospital budgets can be better spent.

In June he said up to £5bn a year could be saved annually by 2020. In his first report then he argued that some of it could be delivered by smarter procurement of hospital supplies and some by better management of staff rosters.

Now he has attempted to put more flesh on the bone, outlining other areas which could contribute to that £5bn figure.

'Variations in care'

In a nutshell, Lord Carter believes that just as there is variation in levels of care around the NHS, as identified by the Care Quality Commission, there are also variations in the use of money by hospitals - some are doing it well and providing good value for the taxpayer, some are not.

He is a firm believer in good leadership leading to high-quality patient care and the most efficient use of resources.

If hospitals all adopted the best practice for different surgical procedures and treatments, he argues, then outcomes for patients would be better and money would be saved.


Potential savings identified by report:

General Medicine: £381m

Obstetrics and Gynaecology: £362m

Trauma and Orthopaedics: £286m

Pathology: £256m

Cancer Services: £255m

Emergency Medicine: £254m

General Surgery: £235m

Community Nursing: £217m

High Cost Drugs: £213m

Paediatrics: £209m

Intensive and Critical care: £209m

Cardiology: £184m

[professor pettigrew] 18/6/2018 07:15

The Edge4Health, a free integrated catalogue management tool, will play a vital role in helping the NHS spend their additional funding wisely. www.bbc.com/news/health… #nhsfunding #technology #carter @Jamesthirkill11 @HCSAprocurement @NHS_SBS @ShelfordGrp pic.twitter.com/PVqWUrd…