Deliver Your News to the World

In 2017, invoice financing becomes easy!

Digital transformation impacts every service within companies, especially the accounting service. In the age of digital invoices, BNP Paribas is innovating by launching FINSY, a 100% digital solution to finance accounts receivable. No more need for printing, scanning or postal mail: with FINSY, invoice financing is easier than ever!


WEBWIRE

How do you manage payment deadlines?

Have you ever found yourself waiting several months for a customer to pay an invoice, with no word from their part?

Despite the legislative measures adopted in France (LME law, Macron law and Sapin 2),one in three businesses still fails to pay its bills on time. For that reason, the payment deadline observatory has remarked that VSBs (very small businesses) and SMEs (small to medium-sized enterprises) miss out on over 12 billion euros.

Cash flow problems weigh heavily within many different companies. They can hinder the commercial development and innovation capacity of these businesses. They can even lead to bankruptcy,as 25% of failed businesses are due to late payments.

To address this problem, new methods are now available to avoid cashflow discrepancies,such as digitalised management of accounts receivable.

Digitalising invoices: the first step

Digitalising invoices has shaken up every aspect of financing accounts receivable. Digitalisation is advancing, stimulated by regulatory reforms and the spread of new technologies within businesses.In 2016, 8% of invoices worldwide were already electronic.

Indeed,paper documents are time-consuming, cumbersome, ecologically wasteful and costly. Digitalisation eliminates the need to manipulate paper documents and reenter accounting data, helping to avoid the errors generated by paper.

Bysaving time,reducing costsandoptimizing processes, estimates say thatdigitalising invoices can generate savings of up to 75% within the accounting department.

FINSY: invoice financing for the digital age

In this context,BNPParibas is contributing to the dematerialisation trend and is adapting its invoice financing offer to match these new developments.

The Group recently launchedFINSY,a digital solution enabling companies to benefit from a cash advanceequal to the total amount of their invoices in a simple and flexible way. FINSYmakes it possible to obtain financing approval in 48 hours.

Created byBNPParibas Factor, known for its expertise in managing accounts receivable through factoring, the FINSY solution is unique thanks to the following features:

  1. Speed: you are financed in 48 hours;
  2. 100% digital format:, you can process requests and track the status of your financing online, 24 hours a day;
  3. Flexible scope: you can control and adapt the number of invoices to finance in just a few clicks;
  4. Responsive interface: you can track financing from a smartphone, tablet or workstation.

With its simplicity and user-friendliness, FINSY offers a powerful response to the immediate cash flow needs of companies and accompanies businesses in meeting their invoice financing needs.


( Press Release Image: https://photos.webwire.com/prmedia/6/212176/212176-1.jpg )


WebWireID212176





This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.