Supply chain finance, the platform based on Ai arrives

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This year, the war in Ukraine and the effects of high bills have been added to the pandemic emergency and its consequences. All factors that have made the financial situation of companies even more fragile, squeezed by an increasingly evident liquidity crisis, especially small and medium-sized enterprises, grappling with a system of access to credit deficit by credit institutions.

According to the survey “Liquidity, SMEs launch an SOS (?)” prepared by the Association of Small and Medium Industries, over 39% of companies have liquidity problems due to outstanding debts. 24.4%, in particular, suffer from difficulties in paying suppliers.

For entrepreneurs, the relationship with banks is a sore point: 64% of them judge negatively the information and support provided by the credit institution; furthermore, 74% found no correspondence between the information in their possession and the information received from the institution contacted.

The solutions offered by fintech in this area are therefore diversifying. With the aim of facilitating access to finance for suppliers – one of the most fragile and crucial categories of the entire supply chain – Iungo, a platform for supply chain collaboration in the cloud which, with a click and without the need for an agreement with the banks, allows suppliers to obtain money, launches Iungo Supply Chain Finance, a solution based on artificial intelligence algorithms for financing the supply chain.

The system requires the purchasing department of a company (head of the supply chain) to issue an order to the supplier, who sends an invoice which is automatically uploaded to the platform. From this, based on the tools that the leader has decided to activate – including dynamic discounting, invoice trading, reverse factoring, tax credits, POS and virtual cards – an active email is sent to the supplier with which he can decide, with a click, whether be paid upfront at 100% or request an advance to have immediate liquidity (with the possibility of integrating your bank).