Aston iTF has just signed a partnership with BNP Paribas Factor to provide better support for SMEs.
This partnership has a triple benefit for SMEs. Firstly, it provides companies with the steering tools they need to optimize their working capital management. Secondly, companies will benefit from financing lines backed by business growth and secured by the assignment of invoices. Finally, SMEs will be able to fully control the risk of non-payment by implementing credit insurance programs.
Xavier Vengeon, Deputy Sales Director of BNP Paribas Factor, explains: “A company’s most important asset is its receivables. If this asset is well managed, the whole business is strengthened. French companies are becoming increasingly aware of this issue. In this context, factoring is an effective tool. Having become the leading short-term financing technique since 2018, factoring offers companies effective solutions for financing, dunning and guaranteeing against non-payment. As a result, they have sufficient funds to pursue their development with complete peace of mind.”
Aymeric Dupas, Managing Director of Aston ITF, adds: “Because the Credit Manager is responsible for DSO and WCR optimization, he must constantly juggle objective analysis of accounting data. He or she must also take into account the many ‘human’ variables that influence customer risk analysis and, ultimately, the company’s overall commercial strategy. The contribution of technology, in particular the combination of Cloud, Big Data and Artificial Intelligence, facilitates decision-making and increases productivity to secure working capital.”
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