Manage your payments in an easy manner
Also giving your suppliers the possibility to collect payment early under special conditions
- Avoid administration costs, issuing cheques, promissory notes, etc. Security in the processing of payments. Standardised system for paying suppliers.
Characteristics of Agro Reverse Factoring
We know that managing your payments to your farmers or suppliers can cause disruption in your day to day operations. That is why Bankia wants to help you in the management of those payments, financing the payments to be made and giving your suppliers the ability to collect the amount receivable in advance.
This management service has a multitude of benefits, both for you and for your suppliers:
- You avoid the costs of issuing promissory notes and cheques.
- You avoid telephone calls from suppliers asking about the status of their invoices.
- You avoid the reconciliation of current accounts to monitor charges of letters of credit, promissory notes, etc.
- The supplier payment system is homogenised.
- Control and administration in incidents arising while managing payments of supplier accounts.
- Greater security in the processing of payment documents.
For your suppliers:
- Additional and permanent source of financing, without consuming their own credit.
- In ordinary Reverse Factoring, suppliers are offered early collection of the invoices they issue to the client.
- Eliminates "banking" expenses by receiving the payment by transfer or cheque. In Agro Reverse Factoring, the supplier receives payment mandatorily by transfer to a Bankia account.
- Administrative simplification and reduction of the number of incidents.
And all at some very special prices adjusted to the reality of your sector.