{"id":7921,"date":"2023-03-09T17:17:34","date_gmt":"2023-03-09T22:17:34","guid":{"rendered":"https:\/\/www.cadena.com.co\/?p=7921"},"modified":"2023-03-09T17:17:34","modified_gmt":"2023-03-09T22:17:34","slug":"what-is-electronic-factoring-and-why-can-it-boost-my-companys-finances","status":"publish","type":"post","link":"https:\/\/www.cadena.com.co\/en\/what-is-electronic-factoring-and-why-can-it-boost-my-companys-finances\/","title":{"rendered":"What is electronic factoring and why can it boost my company’s finances?"},"content":{"rendered":"
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Electronic factoring is a tool that gained strength in Colombia with the implementation of the electronic invoice. Here we tell you why this is an opportunity to add liquidity to your company’s capital and facilitate traceability and transparency in the purchase and sale movements of your business.<\/span><\/strong><\/p><\/div><\/div>

With the advent of\u00a0 <\/span>new digital reorganization technologies<\/span><\/strong> \u00a0for companies, such as\u00a0 <\/span>electronic invoices<\/span><\/a> ,\u00a0 <\/span>blockchain<\/span><\/em> \u00a0or\u00a0 <\/span>big data<\/span><\/em><\/strong> , the door was also opened for\u00a0 <\/span>electronic factoring<\/span><\/strong> \u00a0to become a reality in the country’s business sector.<\/span><\/p>

Electronic factoring is a\u00a0 <\/span>short-term financing<\/span><\/strong> mechanism , by a financial institution, which advances the payment of a receivable invoice.<\/span><\/p>

In short, the company issuing the invoice\u00a0 <\/span>receives the money in advance, in exchange for assigning the credit<\/span><\/strong> \u00a0(an electronic invoice receivable) to a third party. The latter must pay the balance in an almost immediate term, assuming a discounted percentage, for the factoring service.<\/span><\/p>

Factoring is an opportunity to achieve\u00a0 <\/span>greater liquidity<\/span><\/strong> , since it allows you to collect in advance those invoices that have a due date of 60 or 90 days.<\/span><\/p><\/div><\/div>

Who participates in the factoring process?<\/span><\/h2>