Episode #21: Aston iTF – I’m going to continue talking about our ecosystem of startups and partners in the Finance sector. Talking about them also means preparing for tomorrow.
All these Microsoft France partners I’m talking about are often small and medium-sized companies. For several years now, we’ve been working with them on a daily basis to meet the challenges faced by larger companies in the finance sector, and even in other sectors.
“I think that in these difficult times, talking about an organization, a startup, is also about continuing to value the expertise of its employees and making it exist in this context of uncertainty.”
Today, I’ve decided to tell you about Aston iTF, a French Fintech that offers the 1st European platform, in SaaS mode, enabling credit managers to optimize debt collection.
Its added value:
Debt collection is a major challenge for all companies, enabling them to optimize their cash flow while managing and reducing their risks. In France, one out of every 2 invoices is paid late, which can have a major impact on a company’s cash flow. It is estimated that 25% of business failures are linked to late payment.
To meet this challenge, financial institutions offer factoring and Dailly solutions to reduce collection times and optimize cash flow, while taking on the risk associated with future invoice collection. In these times of Covid19, optimizing cash management is a priority to help companies obtain bank financing more easily, 90% of which is guaranteed by BPI.
Aston iTF offers solutions both for companies and for financial institutions, factors and banks. These solutions are based on the best use of digital technology, offering 100% digital, multi-device processes, and benefiting from both Artificial Intelligence and data visualization. AI helps to identify and manage risks, enabling companies or financial institutions to send reminders to their counterparties at the most appropriate time.
The SaaS-based solution runs on Microsoft Azure. It can therefore be implemented quickly, and also works as a white-label solution, enabling banks and factors to offer their customers a simple, 100% digital customer experience.
Its uses :
For companies, SMEs and ETIs, the solution uses data analysis for each counterparty to identify the forecast collection time and the risk involved. It enables automatic dunning actions to be carried out on receivables at the right time, thanks in particular to the use of Artificial Intelligence. Track disputes and reconcile credit insurance policies with collections at risk. A dashboard provides the analysis required to manage end-to-end debt collection.
The solution offers companies: 80% automated actions and 50% reduction in late payments, representing 2 to 6 weeks’ extra cash flow.
For Factors and Banks, Aston iTF enables them to offer their customers a white-label, multi-device, turnkey invoice financing solution, accessible from the bank’s or factor’s portal. This solution enables the financial institution to offer its customers a purely digital on-boarding and invoice delivery experience. The factor or bank manages invoice financing and debtor dunning on the same end-to-end platform.
Turnkey SaaS solution up and running in less than 3 months, offering the highest standards for a 100% digital experience
An example of a project :
Aston iTF and BNP Paribas Factor have decided to join forces to help SMEs optimize their cash flow.
This partnership combines BNP Paribas Factor’s expertise in reducing trade receivables risk through factoring and Aston iTF’s data, AI and Cloud expertise to optimize risk management and help credit managers make better decisions.
Click here to find out more: Partnership between Aston iTF and BNP Paribas Factor
If you would like to find out more, please contact your Aston iTF contact: Contact
Concerning Microsoft: please don’t hesitate to contact me to find out more about our solutions in the Banking and Insurance sector and those of our partners. We can organize a #PassezSurTeams meeting to discuss these topics in greater depth.
