Supply Chain Finance - the project
Milan, October 3, 2024 – PlusAdvance (www.plusadvance.com), Italy's leading fintech platform for working capital optimization, announces a strategic collaboration with Corpay Cross-Border Solutions, part of Corpay Inc.*, (NYSE: CPAY, www.corpay.com/it), a global leader in international business payment solutions. This collaboration introduces an important innovation in the Italian market, allowing companies to easily and effectively manage payments in foreign currencies, while improving control over cash flows and reducing risks related to exchange rate volatility.
Plusadvance serves a wide range of 3500 customers, ranging from micro-enterprises to large corporations, operating in various sectors, including design. Our platform offers a variety of services, including dynamic discounting, confirming, invoice assignment, reverse factoring , and B2B credit cards.
In 2023, we recorded a 165% growth in the volume of invoices handled, a result that testifies to the effectiveness and trust in our services.
In an economic scenario where cash management is critical to the survival and growth of businesses, PlusAdvance's integrated platform provides CFOs with a single tool to optimize cash flows, improve payable outstanding (DPO ) terms, and ensure predictability of available liquidity.
A concrete impact on corporate liquidity
In a global environment marked by economic uncertainty, effective cash flow management has become a priority for companies. According to a survey by PlusAdvance, almost 50% of companies report difficulties in accessing working capital, with significant impacts on liquidity management. This figure underlines the importance of solutions such as the one offered by PlusAdvance, which allows you to optimize working capital and improve the financial stability of companies.
The platform allows businesses to streamline and automate payment processes, integrating both local and international payments into a single digital environment. CFOs can have greater control over cash flows, protecting themselves from exchange rate fluctuations, and reduce payment processing times thanks to Corpay's advanced Cross-Border solutions.
The PlusAdvance and Corpay solution
Businesses can use the platform's advanced features to manage exchange rates in an integrated manner. Corpay Cross-Border solutions allow CFOs to simulate exchange rate trends in real time and lock in the most convenient ones. Once the rate is locked, payments can be finalized within 48 hours, ensuring stability and reducing the need for lengthy communications with banks or intermediaries.
In addition, thanks to the Card2Account function, PlusAdvance allows you to automatically convert credit card payments into bank transfers, thus allowing you to combine the advantages of flexibility on repayment times with those of international payments. This is a clear example of how PlusAdvance enables CFOs to create customized and flexible payment scenarios, optimizing working capital without changes to business processes.
The scenarios created with PlusAdvance can also help improve financial stability and strengthen relationships within the business supply chain, allowing suppliers to accelerate collection times through combined Supply Chain Finance tools.
Tangible benefits for companies
The integration of Corpay Cross-Border solutions into the PlusAdvance platform brings tangible benefits for companies, including savings on payment times thanks to centralized management and the reduction of administrative inefficiencies. Companies can also avoid additional costs related to exchange rate management, improving operational efficiency and ensuring greater financial stability within the supply chain.
PlusAdvance and Corpay: a winning partnership
PlusAdvance
PlusAdvance is an Italian fintech that develops technological solutions to optimize the management of companies' working capital. Through its innovative cloud platform, it allows customers, suppliers and financial partners to collaborate easily and effectively. It is the only platform capable of managing all the main solutions in an integrated way, both aimed at optimizing payments (such as Dynamic Discounting, Reverse Factoring and Confirming programs, Credit Cards) and collections.
Corpay
Corpay, Inc. (NYSE: CPAY) is a leading global S&P 500 business payments company that helps businesses and consumers pay for their expenses in a simple and controlled way. Corpay's suite of modern payment solutions helps its customers better manage vehicle-related expenses (such as refueling and parking), travel expenses (e.g. hotel reservations) and debts (e.g. supplier payments). This saves our customers time and ultimately spends less. Corpay Cross-Border refers to a group of legal entities owned and operated by Corpay, Inc.
Corpay - Easy payments. To find out more, visit the www.corpay.com website.
Press Contacts:
PlusAdvance: ufficiostampa@plusadvance.com
Corpay: Brad Loder, Chief Marketing Officer, brad.loder@corpay.com
Note to Editors:
This press release has been issued with the intention of informing readers about the partnership between PlusAdvance and Corpay. You are invited to use this press release in your media, in print and online. For further information or interview requests, please contact the press representatives above.
**”Corpay” herein refers primarily to the cross-border division of Corpay, Inc. https://www.corpay.com/cross-border; A full list of companies that are part of Corpay Cross-Border can be found here: https://www.corpay.com/compliance.
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