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What does it offer?
Invoice CollectionSuppliers who sell goods to buyers can upload one or a bulk of invoices instantly on the platform. Buyers will then be notified of their invoices’ details. At maturity, invoices will be automatically settled by debiting the buyer's account and crediting the supplier's account.
Distributor Finance
Not only can buyers easily settle their invoices at their maturity dates, they can also get a credit limit with competitive interest rates. They can request a 100% financing of a specific invoice from the Bank who will settle it to the supplier on their behalf. They can also benefit from an extended maturity date.
For example, if an invoice is due in 30 days, the buyer can request full financing from the Bank and pay back the amount after 60 days instead, or settle it in equal monthly installments.
Reverse Factoring
Small scale suppliers can access their future dues by financing their invoices while buyers pay the Bank at maturity or at extended maturity. As they usually get paid 30 to 180 days from delivering goods to the buyer, Reverse Factoring allows small scale suppliers to request a loan from the Bank, thus using this money to grow their business and optimize their working capital. Buyers will then pay the Bank on the invoice due date, or at a later date.
Why enroll in Audi SCF?
Suppliers can:- Enhance their balance sheet and improve liquidity.
- Simplify collection process and reduce costs.
- Have better visibility of all accounts receivables with buyers.
Buyers can:
- Save themselves the hassle of issuing cheques and making transfers for ongoing payables.
- Access trade finance from the Bank at competitive interest rates. With some suppliers, they will benefit from cash discounts when using their credit limit to finance specific invoices and immediately settling them.
- Optimize their working capital and organize their cash flow.
Any extra benefits?
- Notifications and Reporting
Both suppliers and buyers will receive instant notifications upon each due invoice or when settled. They can also customize and schedule reports to monitor pending invoices, dues, receivables or payables. - Credit Notes
In case of returned goods, suppliers can create credit notes to their buyers' accounts.
How to enroll?
Suppliers can sign up, and then enroll their buyers, to start enjoying all of Audi SCF features and benefits.
