BNP Paribas moves into invoice financing

Source: BNP Paribas

Digitalising invoices has shaken up every aspect of financing accounts receivable. Digitalisation is advancing, stimulated by regulatory reforms and the spread of new technologies within businesses.

In 2016, 8% of invoices worldwide were already electronic.

Indeed, paper documents are time-consuming, cumbersome, ecologically wasteful and costly. Digitalisation eliminates the need to manipulate paper documents and reenter accounting data, helping to avoid the errors generated by paper.

By saving time, reducing costs and optimizing processes, estimates say that digitalising invoices can generate savings of up to 75% within the accounting department.

In this context, BNP Paribas is contributing to the dematerialisation trend and is adapting its invoice financing offer to match these new developments.

The Group recently launched FINSY, a digital solution enabling companies to benefit from a cash advance equal to the total amount of their invoices in a simple and flexible way. FINSY makes it possible to obtain financing approval in 48 hours.

Created by BNP Paribas Factor, known for its expertise in managing accounts receivable through factoring, the FINSY solution is unique thanks to the following features:

Speed: you are financed in 48 hours;
100% digital format:, you can process requests and track the status of your financing online, 24 hours a day;
Flexible scope: you can control and adapt the number of invoices to finance in just a few clicks;
“Responsive” interface: you can track financing from a smartphone, tablet or workstation.

With its simplicity and user-friendliness, FINSY offers a powerful response to the immediate cash flow needs of companies and accompanies businesses in meeting their invoice financing needs.

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