"Energy industry Bidding" implements service of digital factoring

2020: Beginning of implementation of digital financial service "Faktoring"

JSC TEK-Torg reported on August 11, 2020 that together with "Inter RAO is Command center purchases" and PJSC Bank FC Otkritie began the project on implementation of digital financial service "Faktoring". Are going to complete implementation of "pilot" by the beginning of 2021. The solution will allow to transfer all cycle of signing of the contracts to a digital format and also considerably will simplify access for participants of purchases to effective financial instruments.

Transfer of factoring to a digital operation mode is an important step on the way of creation of a digital ecosystem of the energy industry Bidding services, - the CEO of JSC TEK-Torg Dmitry Sytin noted. - Start of this service in a digital form will allow to increase efficiency of process of supply of the Inter RAO group. Exchange of documents in a digital form will reduce costs for administration of agreements, and to suppliers will allow to receive quicker payment for the delivered goods or the rendered services. Especially positively it should influence small and medium-sized businesses.

Certainly, the companies of the Inter RAO Group are interested in increase in level of efficiency of the carried-out procurement procedures and also the system of supply of Group in general, - Alexander Tsypilev, the head of department of legal work and the corporate relations of Inter RAO comments. - Development of factoring and its transfer to a digital operation mode will allow the supplier to become more effective and competitive that will undoubtedly have a positive impact at the level of the competition and the gained economic effect.

The bank actively develops solutions for financing of supply chains of corporate clients, including using factoring products. The platform solution implemented for Inter RAO allows to provide suppliers of our client with solutions in the field of factoring financing and also to increase competition of biddings in view of providing to suppliers access to optimal financing sources that eventually will provide decrease in cost value of purchases.