According to this, small businesses are owed more than GBP 55 billion in unpaid or outstanding invoices.

"The average business is owed GBP 11,358, with one in five owed more than GBP 30,000."

"With 67 % of SME business owners saying they still use paper invoices, (...) such businesses spend the equivalent of two weeks each year chasing unpaid invoices. For one in ten companies, a third (33 %) of invoices is paid late."

"When it comes to new invoicing methods, mid-sized companies are leading the way, with 85 % saying they have adopted e-invoicing."

According to this, Indian e-commerce has grown at a compounded annual growth rate of 30% since 2009 and is expected to reach USD 18 billion by the end of the 2015.

"Compared to the Western Europe, India’s e-commerce industry is still in its infancy. E-commerce contributes only 0.6% of the country’s GDP vs 1-3% for other countries, with only 12% of India’s online population transacting online vs 64% for the US and over 50% for China."

"This growth will further be accentuated by companies going in for public listing. (...) Results show that the nature of Indian e-commerce is also different. Travel accounts for 71% of Indian e-commerce, but e-tailing has grown the fastest, at a 59% CAGR between 2009-2013, to reach 16% market share."

According to Business2Community, big data is one of the hottest trends going, and it has companies in all industries figuring out how to harness it for greater efficiencies.

"Big data is more than just hype, and can be used by just about every size company to learn more about their customers, their operations and to inform their marketing programs. Online retailers are some of the best poster children for big data analytics because they have access to endless amounts of data about their customers’ behaviors and purchases."

"Personalization - more customer data than ever is available through touch-points such as loyalty programs, browsing patterns and previous purchases. Online retailers can collect this data, segment their customer base, and determine the optimal offer to put in front of each customer. They can also add an extra layer of personalization to their marketing emails by referencing previous purchases. Personalization breeds loyalty and leads to repeat purchases."

"Dynamic pricing and promotions - A relatively accurate profile can be created for every customer by collecting and processing their demographic and behavioral data. This customer profile can reveal things like the price-point or promotion that you’d need to offer the customer to re-engage them and persuade them to make another purchase. Some may convert only with free-shipping offers and others prefer 25% off deals. Figure out what works best for a particular customer and put it in front of them. Make sure you’re aware of the lowest possible price threshold, so you’re not giving away more than you need to."

"Customer service - Sixty-eight percent of online visitors leave because of poor customer service, so improving this aspect of your business is critical for increasing sales. Big data can help you coordinate service across the various customer communication channels, including phone, email and live chat. Understanding which issues customers are concerned with, or identifying time periods where customer support is most needed, can also help you best allocate resources. The upshot is you’ll be able to resolve a customer conflict in a shorter period of time."

"Predictive analytics - Big data allows you to derive a more in-depth picture of the different channels in your business, including sales and inventory. For instance, you can use big data to analyze specific times of the year when sales of certain products tend to surge, and ensure your inventory is stocked to handle this demand the next time. Knowing how to forecast gives you the added flexibility in deciding the next steps of your business operations."

According to TechCrunch, "Russia doesn’t do things by halves — Bitcoin shouldn’t be used by individuals and legal entities according to a recent statement."

"If you have a Bitcoin wallet on your computer, the Government will be suspicious. The Central Bank of Russia reiterated that the official currency is the Ruble, and that it considers Bitcoin a money surrogate. That’s why the cryptocurrency should be aboided."

"Bank of Russia has warned that Russian legal entities providing services for the exchange of “virtual currency” in rubles and foreign currency, as well as for goods (works, services) will be considered as a potential involvement in the implementation of suspicious transactions in accordance with the legislation on counteraction to legalization (laundering) proceeds of crime and financing of terrorism."

"The Central Bank issued a clarification, not a new rule. In other words, with existing laws, transactions in Bitcoin are seen as “potentially suspicious.”"

"The reasons behind this move is that Bitcoin is reportedly used for money laundering and other criminal activities. Moreover, the Russian institution thinks that it’s a purely speculative currency and that there is a great risk of value losses."

[caption id="" align="alignnone" width="595"] Source KnowBe4[/caption]