The digital transformation It allows electronic invoicing to become a tool for companies and microenterprises (mype) to access financing, not only with factoring, but also with credit products such as bank loans, explained Kenneth Bengtsson, CEO of Efact.
“The digital billing system is not only a platform that issues vouchers, it also allows organizing all the information about a company’s sales and demonstrating that they have the ability to pay before different financial entities to qualify for bank loans and other working capital products. ”Bengtsson noted.
The initial usefulness of the electronic invoice as an accounting element has already been left behind. This tool allows you to collect valuable information to demonstrate the financial strength of a company to banks.
“As it is a reliable record of their business activity, organizations can use electronic invoicing as a tool to demonstrate to financial institutions who their customers are and if they are loyal, how much their sales amount, their main products, market trends and all kinds of data that helps to show that a company is a good payer, ”Bengtsson pointed out.
It is important to mention that electronic invoicing is confidential data. In other words, the financial analysis is only carried out to companies that authorize the use of this system for the respective credit evaluation.
“Although factoring is a product that allows access to financing, only vouchers that have large companies as acquirers are negotiated. These represent less than 2% of the total. Thanks to this alliance with Interbank, small companies will be able to obtain bank loans using their electronic invoicing system. It is one more alternative ”, concluded Bengtsson on the recent alliance that, along these lines, Efact has made with Interbank.
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