Digital factoring is coming to Hungary – invoices can be exchanged for cash within 24 hours

By: Trademagazin Date: 2023. 06. 21. 10:04

Számlázz.hu has opened the possibility of digital factoring to all its customers. With the help of the service, the entrepreneur can convert his invoices into cash within up to 24 hours. Factoring can be a solution for all those who do not like to wait long for their money and seek stability. As one of Hungary’s leading fintech companies, Számlázz.hu helps more than half a million businesses with its digital solutions, and its factoring service is implemented in cooperation with Flexibil, launched by BÁV Faktor, the largest Hungarian independent factoring company.

Most entrepreneurs know how it feels when they have completed the work months ago, but the payment still hasn’t arrived due to distant payment deadlines. The operation of small and large companies is made difficult by the fact that sometimes you have to wait weeks or months for the consideration of services or products. The slowness of transfers can often cause cash flow problems.

Factoring is the solution to this situation. The form of financing allows the entrepreneur to sell his unexpired invoice to an external service provider – in this case Flexibill – which pays the consideration practically immediately. 90 percent of the amount is transferred within twenty-four hours. That way, instead of months, you only have to wait a day for the money. As soon as the buyer has fulfilled his payment obligation, the remaining amount will also be credited to the contractor’s account. The pre-financer charges a low fee, the rate of which can be checked by the entrepreneur using a calculator. That’s all – and the subscription fee of Számlázz.hu (from the #start package) – the fee for immediate access to money for the entrepreneur.