Touax testifies about its Aston AI platform and its Atradius factoring and credit insurance contract.
Touax customer testimonial – Aston AI Cash Collection
Touax Modular Solutions is a family-run business that has been in existence for over a century, and has four operational rental activities: river barges, transport wagons, sea containers and prefabricated modules, particularly for construction sites, prefabricated schools and the like.
It’s a company with sales of over 360 million euros, a worldwide presence, and the modular part of the business generated sales of around 90 million euros throughout Europe.
(What needs does your credit insurance policy meet?)
In early 2015, the need to better secure and manage trade receivables arose, along with the need for short-term financing via a factoring contract with a credit insurance policy as a prerequisite.
(Why choose an accounts receivable management software?)
We had an old, unsuitable accounting tool that didn’t handle credit insurance and factoring contracts, and we needed to automate and streamline the administrative tasks involved in managing trade receivables. We chose ASTON Cash Collection – Crédit Power business software, which is linked to the credit insurance contract. This allows us to optimize cover and claims management, as well as reduce administrative tasks. Aston AI is a cloud solution that has been implemented for three main reasons. The first is to reduce the time needed to deploy the solution. The second is to benefit from regular updates. And the last is to facilitate the recovery and 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 appropriate for its flexibility and structuring effect. It also enables us to enhance the value of our accounts receivable with our financial partners.
(Why did you choose Atradius?)
(In your opinion, what are the strengths of atradius?)
Atradius offered us a contract adapted to our outstanding amounts and our type of customer. The integrated Atradius credit insurance offer and Aston AI Credit Power Cash Collection credit management software were the key factors in our choice.
(What do you see as the challenges facing customer credit in the coming years?)
In today’s fast-changing business environment, it’s difficult to have the teams in-house to carry out accurate financial analyses. That’s why I rely on credit insurers who have the right teams, enabling me to concentrate on optimizing the order-to-cash chain and supporting sales teams. Credit management needs to evolve towards global management of working capital, using integrated solutions based on digital credit management and cash collection platforms.
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