CaixaGeral de Depositos and Saphety Avail Flexcash Service

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CaixaGeral de Depositos and Saphety Avail Flexcash Service

By CFO Tech Outlook | Tuesday, February 02, 2021

Rui Fontoura, CEO

The Flexcash service offers a competitive and attractive model for supplier companies. 

FREMONT, CA: CaixaGeral de Depósitos and Saphety avail the digital factoring service, enabling clients to receive advance payments of funds within a maximum period of 1 business day from their electronic invoices. This platform helps manage the companies' treasury, making it possible to receive invoices in advance in an agile way and through a fully digital process. "In the current pandemic situation, in which companies' treasury is under even more pressure, Saphety's digital factoring solution, in partnership with CaixaGeral de Depósitos, has created new possibilities for obtaining liquidity and streamline associated processes, with efficiency and productivity gains for all" opines Rui Fontoura, CEO of Saphety.

The new service is available on the Flexcash platform, an advanced treasury management solution built with different types of invoice anticipation, financing, namely Digital Confirming – released approximately two years ago - and Digital Factoring - which since the starting of January reinforces the offer to suppliers. The availability of digital factoring functionality on the Flexcash platform now helps firms in fundamental aspects in managing the relationship with their customers: the collection of invoices and the balance of treasury management.

The Flexcash service, resulting from a partnership between CaixaGeral de Depósitos and Saphety, offers a competitive and attractive model for supplier companies. They can take advantage of national factoring modalities, with or without advance funds, in an ecosystem digital and innovative. The combination between Electronic Invoicing and Digital Factoring represents the potential to better manage treasury and access greater liquidity for supplier companies. This innovative ecosystem's benefit is the automation of the entire process, the increase in negotiating power with customers and the rationalization of the treasury, and the reduction of losses with bad debts.

With many achievements, Saphety is focused on growing in the global market by investing in its three essential areas—EDI and electronic invoicing, electronic invoice financing, and electronic bill presentment and analytics. "With a mission to empower customers to continuously enhance their business processes, the company's solutions maximise efficiency, innovation, and sustainability while reducing costs," adds Fontoura.

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