More NewsCGA Launches Supply Chain Finance Platform to Support SMEs

CGA Launches Supply Chain Finance Platform to Support SMEs

France’s Compagnie Générale d’Affacturage (CGA), the business to business (B2B) credit arm of Société Générale has launched a supply chain finance (SCF) platform to support business growth for small- to medium-sized enterprises (SMEs).

CGA said the platform has been developed in response to heightened awareness of the need for larger corporates to foster economic growth by supporting SMEs. The interests of large corporates and their smaller, in some cases international, suppliers are often inextricably linked, and this solution addresses the financing needs of all parties in the supply chain.

Benefits of the platform include:

  • A payment factory option which delivers flexibility of invoice payment and security to buyers’ supply chains.
  • Reporting on the use of the programme by their suppliers.
  • Direct cost-savings and productivity gains.
  • The ability to open up the platform to third party financial partners, which may provide additional financing to suppliers.

For suppliers, it offers:

  • Optional pre-financing of their invoices, which might otherwise difficult to obtain, through a simple online request process, giving them the necessary liquidity to sustain their business.
  • Off balance sheet accounting treatment which is particularly interesting for the biggest corporates.
  • Flexible and detailed electronic reporting enabling administrative and productivity gains.

 

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