The most powerful characteristic of FCI (there are many) but the one that really pushed us to join, is its sound legal framework, which undoubtedly allows all parties involved in a cross-border transaction to take on their roles and responsibilities smoothly and safely.
In addition, its trading platform via EDI messaging is also a powerful tool for the flow of our businesses.
I cannot skip mentioning 2 additional outstanding features of FCI. Firstly, the visibility and business opportunities that a member obtains (and ultimately its clients) out of the networking with all your member peers, which is really necessary to expand the possibilities of professional business growth. Secondly, FCI’s Education and training programs for newcomers, members, non-members, on-line courses, on site trainings (which will surely resume when the time becomes ripe again for that). And very very interesting are FCI’s mentorship programs, led by the Education Committee with the live support of an existing member open to share experiences and good practices for those who join and request support during their start-up process. Newcomers are not left alone. They have all the tools necessary to set up their business in a frictionless way.
During our current crisis, factoring has helped SMEs to open new door for export.
We have ongoing contracts that were signed 10 years ago, right after the subprime crisis. And they are still alive. And they have proven the real protective effect that factoring has had even during international and domestic crisis.
The future path for overcoming our current crisis is by embracing exports and at Banco Supervielle we are convinced that international factoring is one of the top tools that we can offer to support our clients in their business growth.
By signing a factoring contract, clients do not lose their relationship with their customers abroad. On the contrary, it is a win-win tool. On the one hand, buyers can obtain better payment terms form their suppliers and keep on buying on open account terms while on the other hand, sellers can turn such receivables into immediate liquidity instead of waiting to cash them on due date. What’s more, with all the structure, sellers also benefit from 100% protection against bad debts and buyer insolvency.
We decided 11 years ago to approach FCI to learn more on its professional offering and on how we could enhance our international services for our clients, by joining this community that today embraces around 400 members. It did not take us long to decide that by becoming an FCI member we were in the right path.
Click on this button if your business activities involve International trade, to see information about what is factoring, the industry, FCI two-factor systems and FCI education courses.
Click on this button if you are not yet a member, to see information about the benefits and advantages of joining FCI, including Industry information and FCI Academy.