Md.Mustakim Ahmed 🧙‍
Jasbir Singh
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Reduce late payments and improve DSO by Touax

Touax testifies about its Aston AI platform for receivables optimization and its Atradius credit insurance contract.


Text transcript:


Touax Modular Solutions is a family business that has been in existence for more than a century, with four operational rental activities, river barges, transport wagons, maritime containers as well as prefabricated modules, in particular everything related to construction sites, possibly prefabricated schools or others.


It is a company with a turnover of more than 360 million euros, which has a worldwide presence, and the modular part has a turnover of around 90 million euros throughout Europe.


(What needs does your credit insurance policy meet?)


At the beginning of 2015, the need to better secure and manage trade receivables arose, along with the need for short-term financing and financing via a factoring contract with a credit insurance contract as a prerequisite.


(Why did we choose to use a software package to manage our accounts receivable?)


We had an old accounting tool that was unsuitable for managing credit insurance contracts and factoring, and we needed to automate and rationalize the administrative tasks involved in managing our receivables. We chose ASTON AI Cash Collection – Crédit Power business software which is linked to the credit insurance contract. This allows us to optimize guarantees and claims management as well as to reduce administrative tasks. Aston AI Credit power is a cloud solution that has been implemented for three main reasons. The first is to reduce the deployment time of the solution. The second is to be able to benefit from regular updates. And the last one is to facilitate the recovery, the deployment of our credit insurance and factoring contracts at European level.


(Why did you decide to set up a factoring contract?)


We needed short-term financing to manage our cash flow. The factoring solution appeared to be the most suitable for its flexibility and structuring effect. In addition, it also allows us to increase the value of our receivables with our financial partners.


(Why did you choose Atradius?)


(What do you consider to be the strengths of Atradius)


Atradius offered us a policy that was adapted to our outstanding amounts and our type of customer. Atradius’ integrated credit insurance offer and Aston AI Credit Power Cash Collection credit management software was the deciding factor in our choice.


(What do you see as the challenges for customer credit in the coming years?)


In today’s rapidly changing business environment, it is difficult to have the internal teams to carry out accurate financial analyses. This is why I rely on credit insurers who have the appropriate teams, which allows me to concentrate on optimising the order-to-cash chain and supporting the sales teams. Credit management must evolve towards the global management of working capital and use integrated solutions of digital credit management and cash collection platforms for this purpose.

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