It would be nice to see companies celebrated for achieving profitability rather
than fundraising. This headline could also read: Company Overspending at a
Dramatic Pace, Receives $200M lifeline.'
Ok moderator let's try this again.I'll paraphrase former
Senator Hatch's comments from a Senate hearing on data privacy:
'Nothing is free. When you use Google, Facebook or any number of other
"free" , websites, programs, software or apps, you are giving them
permission to collect data about you in exchange for that "free" stuff.
Don't be naive. You are giving up your privacy.' There, I think that
adequately paraphrases his comments.The questions I would ask before
using Divvy:Will they be collecting data on my company's cash
inflows and outflows through the use of their "free" product?If Divvy is monetizing my data, are they doing it with my consent in plain
language or in the small print in their software agreement?If so,
who do they sell that data to? Do I really want potential purchasers of that
data to have that data?Why would a bank(s) pay Divvy "on the
banking side of the transaction" for transactions they are already
structured to process without Divvy? What would the the bank receiving in this
exchange transaction?Lot's of questions that a prudent CFO, VP
of finance, or controller should ask before jumping into bed with Divvy or any
other such provider.