Press Releases - BFF Banking Group
News & Media
Madrid, 14th July 2020 – BFF Banking Group – the leading European financial services provider to suppliers of the Public Administrations – and SERES – a pioneering company in EDI solutions and digital transformation – have just launched a digital platform to offer non-recourse factoring services and e-invoice management on a single tool, thus making invoice management easier for suppliers of the Public Administrations.
The service “Anticipa tu e-factura”, available 24/7, allows companies that already manage their invoices with SERES to select the invoices from their portfolios and finance them. The system displays information such as price, credit transfer process and guarantees access to liquidity with a simple click.
In addition to allowing easy access to new ways of financing, the platform secures automation to the processes and daily tasks – from the procurement phase to invoicing, accounting and tax reporting, by also adding the actual status of accounts paid and pending for collection, thus allowing companies to decide the amount to sell from its their portfolio.
Alberto Redondo, CMO Iberia & Latam of SERES comments: “The electronic invoice mechanism is vital to the process of digital transformation of companies. With the alliance with BFF Banking Group, we strengthen our absolute commitment to our clients and to innovation. Our combined service puts together the advantages of the e-invoicing platform and non-recourse factoring service, granting clients access to liquidity in these hard times for companies facing the crisis born from the Covid-19 Emergency. Through this partnership we bring to our community greater access to immediate liquidity under terms that oftentimes are only within the reach of large companies”.
Javier Molinero, Head of Spain of BFF Banking Group, comments: “Working with SERES on this project, we confirm our commitment to innovation and to providing the best adaptable solutions to the business community in Spain. The platform is a tool that becomes crucial in the crisis times we are living through, where both payment terms and expenditure on goods and services from the Public Administrations are likely to increase. By combining e-invoicing with non-recourse factoring solutions, we support companies in sustaining their liquidity and rebalancing their financial positions”.