Sale of invoices on the internet is becoming reality1. December 2015
The domestic leader in the field of electronic data interchange, a tech company CCV Information Systems, acquired assets within a new successful start-up called Investment Auction in late November this year. Investment Auction sold a 10% stake to CCV Information Systems in Brno with an option for buying additional shares under specified conditions. The step represents logical culmination of the companies’ cooperation up to date. Both sides perceive the new cooperation primarily as a space for further development.
Mutually beneficial cooperation
Already more than a year ago, activities of both companies interlinked through the introduction of the Instant payment service. It has become an integral part of ORION EDI system, developed by CCV Information Systems, which enables its users to virtually immediately obtain missing financial means from late invoice payments. Unlike bank factoring, it allows to optimize also the extent and time of financing. At the moment, the consolidation centre ORION EDI transmits millions of electronic documents every month, which capture business transactions worth billions of Crowns. Thanks to use of EDI (Electronic Data Interchange) factoring can rely on electronic versions of original documents, eliminating the burden of large amounts of paper administration. The entire process of financing with the help of Instant Payment is therefore very fast and reliable.
‘Large manufacturers are typically eligible for favourable financing conditions provided by a bank or they have sufficient funds of their own. That is why we focus on small and medium businesses, which often cannot use these types of bank products,’ says the CEO of Investment Auction Adam Šoukal.
‘We were looking for a partner with whom we will be able to make factoring digital. I have no doubt that the combination of long-term technological know-how and ambitious youth in the area of operational financing will enable further successful development of both companies,’ says Dalibor Damborský, the CEO of CCV Information Systems.