French fintech Aston ITF and BNP Paribas Factor sign a partnership to better support SMEs
![Partenariat](/sites/default/files/2020-02/Image1_0.jpg)
BNP Paribas Factor will contribute its expertise in financing and receivables management and Aston ITF will provide its platform for managing payment time reduction (DSO, dunning - collection) and covering the risk of non-payment (credit risk management).
This partnership has a triple benefit for SMEs. Firstly, it provides companies with steering tools enabling finance and credit management departments to optimise the management of their working capital requirements. Secondly, companies will benefit from financing lines backed by the growth of their business and secured by the transfer of invoices. Finally, SMEs will have perfect control of the risk of non-payment through the implementation of credit insurance programmes.
Xavier Vengeon, Deputy Commercial Director of BNP Paribas Factor explains: "A company's primary asset is its trade receivables. If this asset is well managed, the entire business is consolidated. French companies are becoming increasingly aware of this challenge. In this context, factoring is a powerful tool. Having become the leading short-term financing technique since 2018, factoring offers companies effective solutions for financing, reminders and guarantees against non-payment. They thus have sufficient funds to pursue their development with complete peace of mind."
Aymeric Dupas, Managing Director of Aston ITF, adds: "Because the Credit Manager is the guarantor of DSO and WCR optimisation, he must constantly juggle between an objective analysis of accounting data and taking into account numerous "human" variables that condition the analysis of customer risk and, ultimately, the company's overall commercial strategy. The contribution of technology, in particular the combination of Cloud, Big Data and Artificial Intelligence, makes it possible to facilitate decision-making and increase productivity in order to secure the WCR."