OZ PLANET launches classic factoring
Modern companies are constantly looking for the best ways to manage cash flows. Tools that help use working capital effectively are especially relevant. In response to these needs, OZ PLANET is expanding its portfolio of factoring services. The new product is classic factoring (recourse factoring), a financial tool that allows supplier companies to turn receivables into instant financing and optimize cash flows.
Key product features
In recourse factoring, the supplier bears the risk of the buyer not paying its debt (receivables). This means that if the buyer does not pay, the factor (bank) has the right to demand that the supplier return the amount paid to it. For this reason, the factor assesses the supplier company's credit risk and sets an individual financing limit for it.
Product benefits
- Maximum financing against receivables
- Lower fees than other types of factoring
- Minimal documents and no collateral
- Instant financing after delivery of goods/services and upload of supporting documents.
Who benefits from the product?
- Large suppliers with a developed network of buyers
- Companies confident in their buyers' ability to pay
- Fast-growing companies
Recourse factoring lets businesses build flexible relationships with different counterparties, as the factor focuses on assessing the supplier's solvency.
In addition, classic factoring on OZ PLANET includes other business services such as detailed payment monitoring, report export, client support and timely software updates.
Services under classic factoring may also include buyer reliability analysis. This is especially useful for suppliers looking to expand their client base or preparing a deal with a new client.
The OZ PLANET digital platform provides instant decisions on factoring financing and transparency of all operations. This lets suppliers get the funds they need quickly and efficiently and focus on growing their business.
Classic (recourse) factoring on the OZ PLANET platform is a financial tool that combines easy processing, a competitive cost of financing and a range of useful additional services. It will help large suppliers and fast-growing companies manage their cash flows effectively and significantly improve their financial performance.
