Edisoft Factoring summing up 2021 endings: turnover achieved from the SCF-platform amounted to $ 2,7 B
Edisoft Factoring – electronic multibank factoring platform – has summarized its results for 2021. Development dynamics has increased financing volume in factoring sector by USD 2,7 billion (+10.5% y/y), obtained by creditor companies.
In total, there were 1.45 million (+7,5% y/y) transactions on assignment of receivables successfully performed on Edisoft Factoring during the last 12 months.
During all the time the platform worked there were 5.6 million deals passed through, plus, lending users have received USD 9.7 billion to replenish working capital and resolve the cash gap problem. There were 17.5 million e-documents uploaded and 88 million transactions carried out on the platform. Edisoft Factoring has allowed to process 10,000 provision contracts and 6,000 factoring contracts.
According to these indicators Edisoft Factoring is the biggest independent factoring service in the Eastern Europe.
The major client activity occurred during two periods these year – from March to April, and from September to December, which is due to business cycles in supplier and purchasing companies making factoring deals with Edisoft Factoring. 85% of e-docs transactions on the platform was implemented via integrational links.
More than 1,500 users and 50 banks and factoring companies are wired to Edisoft Factoring as creditors. Among the main borrowers is Auchan and others.
The Edisoft team has been working extensively on upgrading the platform, and here are the new features launched:
- Large-scale document signing (up to 1,000 documents) with just a couple of clicks.
- A single interface window for both suppliers and debtors with no shifting between personal accounts.
- “Favorite” suppliers in factor’s account
- Additional access to upload registers of documents confirmed in excel format
- Forwarding papers into electronic archive
- Taking public holidays into account in case of assigning the supply to a factor
Apart from that, there was Edisoft Factoring optimization carried out since the pressure on the platform had multiplied. Now Edisoft Factoring is able to section the registers into several documents and process them in turns, so that users could work at normal speed while processing the register. The optimization is discreet for the user yet providing security and high-speed processes.