FERCAM Factor digitizes the entire credit transfer process

FERCAM Factor digitizes the entire credit transfer process

The company of the Group that offers factoring service to FERCAM suppliers has successfully achieved the first objective of its innovation path. The virtual management of all documentation for the request and approval of credit transfer makes the operations more efficient for each of the actors involved and saves hundreds of thousands of paper sheets.
Says Simon March, Head of FERCAM Factor: "about 2 years ago we started a project that had the objective of digitizing all the documentation relating to the transfer of credit, a way in which we offer FERCAM Group’s partners an opportunity for immediate financing. Behind the request and approval procedure, governed by specific regulations, there is in fact a substantial volume of documentation, including invoices and contracts that our clients must check and sign, with related attachments. All this translated into mountains of paper: just think that we had managed to handle over 274,000 photocopies a year for this activity alone!".
This path of innovation was inaugurated in the name of a desire to limit the environmental impact of all FERCAM activities, in line with the strategic objectives and initiatives that each department in the company is progressively implementing to pursue this goal together. March observes: "During the first months of the pandemic and lockdown it also became clear that the ability to manage requests remotely, without having to access printers, scanners and archives, was an immediate advantage in terms of flexibility". Less manual operations also translates into time saving, with immediate benefits for team activities organization.
Thanks to the fruitful collaboration with Exprivia SpA, a company that supports FERCAM Factor in the management of its activities, legislative needs and constraints have been analysed, in order to understand how to completely eliminate the need to exchange documents in paper form. The main obstacle was the signature, which naturally had to be officially certified to be valid on contracts. The Head of FERCAM Factor explains: "we rely on the platform already created some time ago for us by Exprivia, dedicated above all to the possibility for assignors to consult documents, which has now been customized according to our needs, by implementing new specific functions. Initially we encountered some difficulties, but we always had faith in the fact that the general level of digital awareness, even if unconscious, would be sufficient for all actors involved, and so it was".
The system is also mobile friendly, a significant convenience for suppliers who do not necessarily sit in front of a computer every day. "To date, I am very happy to be able to say that we have achieved our first ambitious goal. We have digitized the exchanges with 100% of FERCAM Group’s partners who use the FERCAM Factor service, and each of them uses a certified digital signature, sends us requests and subscriptions completely in virtual mode", concludes Simon March. "This is the future and this is the path we will continue to follow: our next goal is a totally paper free office, trying to make our further contribution to the green objectives that the whole FERCAM Group is pursuing with passion. I am sure that we will soon be able to reach it!".
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