Digitization of factoring industry in Serbia

Small and medium-sized enterprises in Serbia have faced great challenges in recent years - from the pandemic to the war in Ukraine, things have not been easy for entrepreneurs in this area. But even now these industries are not protected from obstacles that, if they do not threaten their survival, affect their development plans. In this article, we try to review the main challenges in various industries, but also to present a digital solution that can change everything for most entrepreneurs.

High inflation did not bypass Serbian companies either. Although we are currently going through a mild slowdown, we still live in an economic environment where money is very expensive, which continues to confuse companies in this area.

Many wholesalers and distributors face cash flow problems due to the time lag between when they have to pay their suppliers and when they are billed for services rendered. This imbalance limits the ability of companies to invest in development, to purchase additional inventory or to cover operating costs.

Many SMEs face the same problem that exists with most entrepreneurs in Serbia, namely the lack of access to traditional methods of financing. Small and medium-sized entrepreneurs are not seen by banks as creditworthy, because they do not have the necessary guarantees or credit history in order to get a loan from the bank.

Although not a specific problem for certain industries, the labor crisis is being felt among companies in various industries. It is difficult to find suitable employees for certain jobs, and people in various industries say that there is a lack of interest on the part of employees, who are constantly demanding higher wages.

1.Create an account at www.instantfactoring.rs

2.Add a copy of the invoice you wish to fund to your account.

3.The Instant Factoring team checks the data and returns with an answer within two hours at most.

4.If everything is fine, you will get the money in 24 hours.

Digital factoring is not a magic solution for all entrepreneurs, but it definitely provides an answer to many challenges that most companies face.

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