In recent years, small and medium-sized enterprises (SMEs) in Colombia have faced significant challenges in terms of access to financing and large companies have promoted the use of financial tools within their supplier ecosystem, allowing them to improve their cash flow.
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This is demonstrated by companies such as Bavaria, Farmatodo, Claro and Alpina, which by using platforms such as Finaktiva’s Supply Chain Finance, have played a key role in guaranteeing the sustainability and financial growth of thousands of Colombian SMEs.
According to Pablo Santos, co-founder and CEO of Finaktiva, “this digital tool has been crucial for many companies to not only stay afloat, but also grow and consolidate in their markets.” For SMEs, the platform offers a vital solution: the ability to receive advance payments for invoices in less than 24 hours, instead of waiting several days.
Although the Ministry of Commerce regulated the payment of Fair Terms in Colombia, improving the panorama by reducing the payment period for invoices to 45 calendar days from receipt of the same, this continues to be a challenge for many companies that do not They have sufficient cash flow to meet all their obligations, Pay payroll and invest in your growth.
It is this panorama in which tools such as the Finaktiva Suite and its Supply Chain Finance solution are transformative. This platform, which connects with both payers and SMEs, gives them the opportunity to access early financing, without depending on traditional bank loans, which are usually more expensive and difficult to obtain. Thus, companies can continue to operate and grow without the burden of waiting long periods to receive payments for their products or services. In this sense, the tool also acts as an engine of financial inclusion, impacting more than 6,447 providers and facilitating the liquidity of more than 1,111 payers, according to company data.
The platform allows large companies to retain cash on their balance sheet for longer, optimizing their liquidity and improving their investment capacity. In addition, automation in payment and invoice management has reduced operating costs, which translates into savings for corporations.
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