Eurobank Factors puts at the service of its customers the possibility of digital service for Reverse Factoring services, utilizing the e factor platform that ensures their access to upgraded digital solutions, directly and safely.
The new, advanced e factor platform is an original online platform, implemented by Eurobank Factors, in collaboration with Impact SA, with the aim of automating the provided Reverse Factoring services. The application further improves the response time at all stages of the process and facilitates Reverse Factoring transactions, an option that is constantly gaining ground in the market, enhancing business liquidity. Reverse Factoring, also known as Supply Chain Finance, is an organized mass financing scheme of suppliers of a large and reliable buyer, which contributes, in essence, to the facilitation of commercial activity.
The new e-factor platform provides:
– Electronic integration (on boarding) of all participants (buyer and suppliers), easily and quickly.
– Electronic posting of invoices and the possibility for suppliers, each buyer, to immediately choose the invoices to be financed.
– Exchange of information and information on the status of each funding in real time.
– Analysis of accounts and all transactions.
The CEO of Eurobank Factors, Mr. George Karagiannopoulos, said: “The new e factor platform, which we developed in collaboration with Impact, serves our design for the adoption of digital solutions in order to create added value in organized economic ecosystems, related with the supply chain of goods and services, such as the rapidly growing Reverse Factoring “.
Eurobank Factors, a 100% subsidiary of the Eurobank Group, a pioneer in the industry and the largest Reverse Factoring provider in Greece and Southeastern Europe, has been providing this service for over a decade, having joined more than 1,000 suppliers in related schemes, which draw on financing totaling more than EUR 400 million per year.
Source: Capital
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