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How does it work?
- First of all you need to register your company in OFION. If you are already client of e-invoice service provider registered in OFION (e.g. SERES), we can import your profile from this service provider, with the previous authorization.
- To see your e-invoice, you should chose option “Go to my e-invoice”, which will connect OFION with e-invoice cloud. Then you can press button “Check eligibility for invoice financing”. If your e-invoice is eligible for financing, you will receive “OK” message and your e-invoice will be saved. Then you can choose invoice financing preferences or conditions such as financing payment terms.
- When you are ready, you can create invoice financing offer (IFO), which is published on invoice financing marketplace where specialized companies (also known as invoice financing FinTech’s) have access and can see your offer.
- Fintech choses option in menu called “debtor check” and OFION returns information about debtor, if it exists in the platform (through connection with e-invoice service provider cloud). If the response is satisfactory, Fintech makes internal risk assessment. If it is positive, Fintech prepares “response to IFO” with the conditions of invoice financing, including fee, retention or interest rates. This response is forwarded to your tasktray.
- When you log in and check your tasktray, you will find response to IFO that different Fintech organisations sent. You can chose the one with the best conditions or one that fits your needs. Notifications are automatically sent to other involved stakeholders, namely to e-invoice service provider, to Fintech and to debtor