PlusAdvance expands its network by adding the insurance group Generali Italia to the list of lead companies registered on the platform.
With its participation in the fintech platform PlusAdvance, Generali Italia aims to continue being a reference point for its suppliers, acting together and generating trust by providing its expertise through concrete and immediate actions. This commitment to supporting SMEs reflects the Company’s vision: to do business well, for the sustainable recovery of the country.
In an economic scenario that has always seen a trend of undercapitalization (in 2018, during the recovery year, over 16% of small and medium-sized enterprises were undercapitalized), the Covid-19 context led companies to increasingly rely on diversified sources of financing, which often involve lengthy credit access times, high costs, and complex procedures. Thanks to PlusAdvance, leading companies like Generali Italia provide their suppliers with a financial support tool: the advance payment of invoices ahead of the scheduled payment days, based on the suppliers’ own proposals.
In particular, Generali Italia chose PlusAdvance because the system developed by the Italian company is the only one in the fintech landscape capable of ensuring maximum flexibility and sustainability in operations.
The lead company in the supply chain, with PlusAdvance, does not impose any conditions regarding the discount rate to be applied. Instead, suppliers are free to propose a discount in exchange for early payment of their invoices. Thanks to PlusAdvance’s proprietary algorithms, which leverage the latest digital technologies and artificial intelligence, suppliers receive a real-time selection of invoices ready for early payment. This ensures a dynamic and bilateral transaction that maximizes performance for both parties in a simple, sustainable, and intermediary-free manner.
Generali Italia has adopted PlusAdvance to strengthen partnerships with its suppliers, making approximately €50 million in liquidity available annually. This initiative reinforces its Partner di Vita strategy, positioning the company as a key reference point for all its suppliers. This is also what it means to be sustainable—this is also what it means to do business well.
PlusAdvance is the only Italian fintech platform to have designed and developed an intelligent digital Dynamic Discounting platform that helps production supply chains accelerate invoice collection and payment times without financial intermediaries, in a fully sustainable way. Founded as an innovative startup in 2017, PlusAdvance is now used every year by hundreds of companies to manage over €50 million in payment maturities, and is rapidly strengthening its position within the Italian Supply Chain Finance market.
Generali Italia is the most recognized insurer in Italy, with over €24.6 billion in total premiums and an extensive network of 40,000 distributors, in addition to online and bancassurance channels. It has 13,000 employees and €120 billion in assets under management. Generali Italia oversees Alleanza Assicurazioni, DAS, Genagricola, Genertel, Genertellife, Generali Welion, and Generali Jeniot.
#InsiemeGeneriamoFiducia is the action plan developed by Generali in collaboration with its stakeholders—customers, employees, agents, suppliers, institutions, and communities—to overcome the Covid-19 emergency. As a Lifetime Partner in people’s key moments, the goal is to build trust by leveraging everyone’s expertise and providing concrete and immediate solutions.
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