E-com FactorEx

2017: E-COM summed up the results of use of FactorEx in 2016

On February 13, 2017 the press service of E-COM company announced the 70-fold growth of financing of deliveries on the system of electronic factoring.

The volume of the financed deliveries through service of electronic factoring FactorEx in a year increased by 70 times, from one thousand in January of the 2016th to 70 – by a current period. Such data allow to estimate demand of the procedure of tripartite interaction for telecommunication channels of the supplier, a factor and retail chain stores in the scheme of the order of goods and its timely payment by delivery. Anton Shevchenko, project manager of electronic factoring of E-COM company

For February 13, 2017 direct exchange of electronic data within FactorEx service was adjusted by 26 banks factors, among them:

• Alfa-Bank,
• NFK,
• Promsvyazfaktoring,
• Russian Factoring Company,
• Metallinvestbank,
• FC Otkritie bank.

Often clients need consultation on the choice of service of financing and search of the financial agent, sending an inquiry for selection of the most optimal solution. The project team within service helps to configure this interaction and to narrow a finding solutions circle. Anton Shevchenko

2016

FactorEx upgrade

On November 23, 2016 the E-Com company announced upgrade of service of electronic factoring (FactorEx).

E-Com in November was updated on several positions at once. The offered functionality will allow to lower operational loading within financing of a supply chain, having automated process of verification and a concession of monetary claims in a linking of Debitor-Faktor-Postavshchik. Anton Shevchenko, FactorEx project manager, E-Com companies

Within upgrade of functionality, unstructured subtypes of electronic documents are added to the structure of service:

• register of a concession,
• delivery confirmation of demands in reconvention and payment.
• signing of notifications on factoring in a form of a factor or the buyer.

The user of service can separate traffic (transfer of electronic documents) on the basis of the legal entity and to a delivery agreement number.

As developers said, service is implemented on technology of electronic document management, so, in the course of data exchange between the supplier and a factor each delivery contains electronic documents. Such document contains positions on a concession of a monetary claim on the basis of which the decision on financing forms. Actually within 1-1.5 hours after sending a request this mechanism gives the chance to the supplier to receive the solution on a necessary amount of money of bank factor that actually 50 times quicker, than using paper.

E-Com and Corus Consulting CIS configured free roaming on factoring

Operators of electronic document management E-Com and Corus Consulting CIS in March, 2016 announced opening of free roaming on factoring transactions between the clients. Within transactions of factoring services between the companies the payment for roaming will not be levied. According to the parties, it will allow to facilitate load of customer service and to quickly configure exchange of documents for financing of deliveries.

According to Anton Shevchenko, the FactorEx project manager in E-Com, financial market does not suffer compromises in questions of approval and payment confirmation therefore the setup fact between two companies of faster data exchange between partners and factors will favorably affect quality of services.

"Simplification of access to services of banks and factors will allow our clients to focus on development of the business, without being distracted by document flow solving of tasks. Roaming between operators will give them additional flexibility in receiving financing of commercial transactions" — Elena Belts, the head of department of a research, methodology and development of products in Corus Consulting CIS company supported the colleague.

"If to speak about the scheme of tripartite interaction, then here the operator should act as a simple 'transport' link on transfer of the verified data — noticed Shevchenko. — Also there is no sense to complicate the simple and already approved by time schemes".

The companies thus increase competences of the financial sector, offering attractive terms of connection to technologies of electronic document management. In general, according to the statement of speakers, operators are ready to offer factors significant increase in their actual market coverage of retail. For spring of 2016 a cumulative covering of E-Com and Corus Consulting CIS — about 80% of suppliers in the EDI direction and more than 65% on YuZDO. It is a considerable market share which can become competitive advantage for the banks and factors which passed to electronic document management consider in the companies.

Using FactorEx the automated tripartite data exchange in a linking of "Debitor-Faktor-Postavshchik" which allows to simplify process of verification of deliveries using EDI messages or the electronic invoice is provided, providing thus transparency of factoring transactions, emphasized in E-Com.

2015: FactorEx

FactorEx is the automation system of factoring financing.

E-document flow factoring on the FactorEx platform is a range of services for the companies conducting a trading activity on the terms of a payment deferral.

As a part of service:

• financing of the supplier (in exchange for a concession of a monetary claim according to the delivery agreement),
• status monitoring of debt of the buyer on deliveries,
• reminder to debtors about approach of payment due dates,
• carrying out reconciliations with debtors
• providing to the supplier information on a current status of receivables.

For April 9, 2015 FactorEx allows to fill up quickly current assets and to accelerate a goods turnover. All process of factoring financing happens on a single platform or in the accounting system of the user".

The procedure of delivery within e-document flow service happens as follows: the retail chain stores send the supplier order, from it there is a shipment of the ordered goods back and along with it shipment documents go to bank.

Financing happens on the basis of the documents approved by the parties confirming the shipment fact: ORDERS, DESADV, RECADV, INVOIC, ESF and others.