SKB Kontur helped VimpelCom to pass to electronic factoring

2020: Implementation Circuit. Factoring

SKB Kontur reported on October 1, 2020 that PJSC VimpelCom helped to pass to electronic factoring.

In the field of telecommunications it is the first company which automates factoring on the platform of the Circuit.

PJSC VimpelCom concludes factoring bargains as the debtor buyer. Suppliers and factors — banks and factoring companies act as partners. Thanks to factoring suppliers of PJSC VimpelCom attract financing at the profitable rates, and the company receives from them attractive commercial conditions.

Before transition to electronic document management (e-document flow) all bargains were concluded on paper. Signing of notifications on transition to factoring took a lot of time, and it dragged out process of delivery confirmation. To save efficiency in work, the company decided to move the conclusion of transactions to the factoring platform of the Circuit. Now notifications on factoring are signed directly on the online platform. It is not necessary to duplicate signatures on paper. It allows the parties to work comfortably at this conjuncture and quicker to receive financing.

Also with transition to such format of work the delivery confirmation mechanism changed. Earlier factors sent to the debtor's address inquiries by e-mail with confirmation of the fact of delivery and start date of a delay. The staff of PJSC VimpelCom had to process them manually and to switch between the different document formats. Non-core work took away a lot of time, distracted workers from more significant tasks. Thanks to transition to electronic platform request processing became automated. Now the staff of the company works in a single window of web service, and suppliers and factors can monitor a status of deliveries far off.

Dinara Mardanova, Circuit project manager. Factoring

The electronic factoring platform of the Circuit automated the conclusion of transactions. Now the staff of PJSC VimpelCom only checks existence of documentation, but does not process it manually. Also the platform calculates start date of a delay on the loaded documents. Thanks to it the factor precisely knows when it receives money from the debtor.

Alexey Nikonov, director of treasury of PJSC VimpelCom

PJSC VimpelCom uses Kontur.Diadok with many suppliers as a basic electronic document management system, but regarding factoring the EDMS was not used earlier. Circuit. Factoring, thanks to its integration into the Diadoc, will allow to make vendor relations even more ordered and transparent.