Factoring is an increasingly important component of corporate financing, used to boost results, generate liquidity and improve working capital. As such a factoring programme had been introduced at Panasonic as a corporate strategy to be rolled out across its main European business units.
The finance department had been running its factoring on a case-by-case basis, manually producing files for the bank. But it was looking to reduce the amount of administration by using software that would integrate with the firm’s existing SAP ERP. With tens of thousands of invoices handled each month, it really needed a system that would cope with such large volumes of transactions, without the need for extra headcount.
Panasonic generates liquidity and improves working capital by administering its factoring management in an automated, efficient way with no requirement for extra headcount
The firm’s exact cash position is instantly available at any one time and enables the finance department to report accurately and quickly to head office
The finance department has complete confidence in the information that it provides and has clarity and visibility on more complex cash situations.