Edisoft Factoring helped finance supplies worth $ 650 M in Q3 2021
Edisoft Factoring published the results in the 3rd quarter of 2021. In three months, users were able to receive financing in the amount of more than 650 million USD. This is 7.4% more than in the previous quarter, and 9% more than in the same period in 2020.
In total, in July-September 2021, 365 000 transactions on assignment of receivables were completed on the platform, where e-documents with legal significance were used as confirmation of the fact of supply. The main growth occurred in August, following the traditional resumption of business activity of users. Edisoft Factoring performed 2.19 million transactions with documents in automatic mode.
Now 1,500+ creditors and 50+ factoring companies are connected to the platform. Among the main debtor companies, for example, Auchan.
A feature of Edisoft Factoring's work is that the platform allows you to quickly conduct three-way factoring transactions in electronic form. The solution makes it possible:
- Manage the lifecycle of factoring contracts from signing to termination
- Generate, automatically sign and send to the addressee registers and documents, including free format e-documents, receive notifications about the progress of the transaction
- See the status model for each document
- Control master data, including the relevance of details
- Manage funding limits for each supplier separately
Edisoft Factoring using blockchain technologies to improve the security level of users and business processes.
In addition, Edisoft Factoring automatically verifies 100% of supplies documents, allowing the debtor to save resources for confirming each delivery separately. The developer and main operator of the platform, Edisoft, is one of the largest providers of electronic document management in Eastern Europe and Baltics. This allows data to be synchronized across supply chains from procurement to financing.
Factors using Edisoft Factoring can save time and resources on checking delivery data, since they receive already verified information from reliable debtors. This allows financing to be issued within the same day of delivery. 80% of the volume of funding passed through the platform is serviced through integration links with factors in an automatic mode.