Retailers are demanding longer and longer payment dates. Suppliers are therefore more likely to experience cash flow shortfalls. The solution is to use a factoring service, selling those receivables. LHV has now partnered up with Telema, which has resulted in an automated service for suppliers.
Telema eFactoring lets suppliers forward invoices automatically to the bank for factoring. This ensures fewer mistakes and faster payments for suppliers.
For LHV contractual clients using Telema eFactoring solution the invoice is sent both to the buyer’s and the bank’s system immediately after being issued. Automatic processes provide fast and more secure data transmissions. eFactoring with LHV means that Telema eFactoring users are now able to receive their money even in only a few hours.
Benefits of Telema eFactoring:
- Invoices are forwarded automatically – less errors and lots of time saved
- Invoices reach the bank and customer at the same time
- Fast and safe data transmission – even faster factoring
- Money is received in a matter of hours
Read more about Telema e-invoicing