Telema e-Factoring

Telema E-factoring service is for enterprises that are interested in more quick turnover of current assets in the business process and that are using (or plan to start using) factoring of sales invoices. The service is launched in cooperation with Swedbank Liising in April 2004.

E-factoring is based on Telema E-Document Exchange System (EDS), which enables business partners to send different e-documents to each other. In case of e-factoring the invoice from seller to buyer is also transferred to the leasing company or to the bank. The invoice is automatically entered into the business software of the leasing company or the bank and there is no need to type the information in manually.

As electronic exchange of information is quick, seller will get the needed current assets to his disposal during shorter period of time than earlier. At the same time errors, that occur on manual entering of information, are practically eliminated. Telema's clients, who are already using the EDS service, can join e-factoring without any additional charges.

Main advantages of e-factoring:

• quick turnover of current assets;
• better overview of the movement of documents and finances;
• mistakes, that occur on manual entry of information, are eliminated;exact time of receipt of invoice by the leasing company of bank is fixed and can be checked by the seller on a special web-site.