Wednesday, February 21

The innovative SupplierPlus platform is now available for the Ukrainian market

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The innovative SupplierPlus platform has made reverse factoring available

An innovative platform SupplierPlus from Estonian developers appeared on the Ukrainian market. The service helps organize financial operations for settlements with suppliers. An important function of the new platform was the possibility of paying invoices through reverse factoring. This option simplifies the provision of working capital financial services for small and medium-sized businesses. This frees up funds that go to the processes of large customers.
Among the users of SupplierPlus there are both large companies, which act as a buyer, and banks, through which financial transactions are carried out. In this case, each user has a number of advantages, which makes his work on the platform as effective and convenient as possible. Representatives of large businesses often push their own interests when working with suppliers. First of all it concerns the deferral of payments on invoices, which can be up to 120 days and even more. Such pressure has a negative effect on small and medium-sized businesses, and in some cases they have to refuse cooperation, which could have been beneficial for both parties. At the same time, the option of bank lending is not suitable for everyone, because its interest rate is too high.
Now, thanks to factoring, suppliers can receive payment for products or services within seconds. The platform provides a transparent scheme of financial transactions and will be a useful tool for suppliers and customers.
Many Ukrainian companies have already used SupplierPlus service, among them Molokia trademark, OTP bank, grain trader Ramburs and others.

innovative platform

According to the developers of the platform, factoring has a great potential for development in Ukraine. According to experts, representatives of small and medium-sized businesses have a financing gap of 400 billion euros. This figure can be reduced by tools from SupplierPlus. Factoring is used in many countries around the world, for example in Poland. Here the share of such operations is 66 billion euros, or 11% of GDP. For comparison, in Ukraine this value is 260 million euros or 0.2% of GDP.
The platform can be used in various segments of the market, where the seller-buyer rules apply. SupplierPlus is perfectly suited for doing business in the agricultural sector, industry, retail and others. As for the prospects of development of reverse factoring, according to analysts, in the next 3 years its share in the world market will increase by about 15-20%.
The difference of this approach from the classical factoring consists in the fact that here all the risks are assumed not by the supplier, but by the buyer. It is the latter who shares his credit limit with the supplier.

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