Discounting Project
Supporting its supplier base and consequently supporting the entire supply chain. This was the purpose that led to the collaboration with FinDynamic for the launch of the Discounting Project.
This new service will allow suppliers to collect invoices in advance, opening up a streamlined channel of funds. This means strengthening the ties between the Pittini Group and its suppliers, simplifying processes, enabling faster cash flow, and therefore allowing everyone to focus on strategic activities for business growth.
This a tangible step towards building an increasingly solid relationship of trust between the Group’s companies and the supply chain of which each and every supplier is a fundamental link.
More information at discounting@pittini.it
COLLECT IN ADVANCE
Get your invoices paid on the date you want.
MANAGE EVERYTHING ONLINE
Request the settlement without unnecessary bureaucracy.
PROCESS WITHOUT CONSTRAINTS
Use the service without limits or contractual restrictions.
Here you will find all the information you need to enjoy the benefits of the partnership between Pittini Group and FinDynamic, the innovative platform that allows you to get invoices paid in advance. This opportunity is a concrete step towards building an increasingly solid relationship of trust between the company and the supply chain of which each supplier is a fundamental link.
Watch the webinar dedicated to this project.
Duration 30 minutes
How and when can I start collecting invoices in advance?
As soon as you receive the email inviting you to subscribe to the platform, and after you have logged in for the first time, you will be able to request an advance payment on all the documents you will find in your personal dashboard. Simply select one or more invoices, choose the date on which you wish to collect, and send your request to the Pittini Group with a few simple clicks.
My priority is to control cash flow. Can FinDynamic help me?
Definitely yes, FinDynamic is not only dedicated to those in need of short-term liquidity, but also to all companies that want to have timely control over their cash flows, allowing them to decide when and which invoices to collect in advance.
Why should I use FinDynamic?
There are many reasons for this, here is a short list of the advantages that suppliers receive from using FinDynamic:
- The platform is completely free of charge and provided by the Pittini Group
- Payment is made directly by Pittini Group without contractual modifications
- No reporting to the Credit Rating Agencies
- Possibility to choose the invoices for which to request an advance payment with no restrictions
- No expensive bureaucracy
- Soft rates, no additional fixed costs
FinDynamic has an advantage because it offers a lower cost of capital than other forms of financing. What does this mean exactly?
The objective of the Pittini Group and FinDynamic is to support the creation of a trusting and beneficial relationship between customer and supplier. For this reason, the discount rate charged by the Pittini Group during the invoice discounting phase is customised and always below the average for accessing credit through traditional channels.
Why does the Pittini Group offer this innovative new service to suppliers?
The Pittini Group is well aware of the importance of a healthy and stable supply chain, which is why it decided to undertake this project based on innovation and sustainability.
I have recognised the advantages of FinDynamic, but I already use a discounting payment system for invoices, e.g. Sepa Direct Debit (SDD) or factoring. Is it difficult to switch to FinDynamic?
Switching to FinDynamic is very simple. If you use the SDD , you will only need to issue the new invoices with the Wire Transfer as payment method and get the prepayment directly from the Pittini Group. If you use Factoring, you will need to terminate your contractual relationship with the Factoring company as the prepayment will be made directly by the Pittini Group, without the involvement of intermediaries.
Are there any contracts to be signed with FinDynamic?
No, Findynamic offers the service to the Pittini Group, which then makes the Discounting platform available free of charge to its suppliers.
Am I required to discount all invoices?
No, it is possible to choose which invoices are to be discounted. However, it is not possible to discount portions of invoices.
Is it possible to discount invoices only at certain times of the year?
Yes, you can choose to discount invoices at any time.
Which is the difference between the dynamic discount and the other types of funding such as invoice advance?
The invoice advance is a credit assignment without recourse allowed by a Financial Institution and therefore subject to the successful completion of the transaction. For this kind of transactions a bank Credit Line is required and the advance absorb part of that Credit Line. Moreover, the creditor has to disclose on its Financial Statements the invoice portfolio presented by the bank as receivable from customers.
The advance through dynamic discounting is definitive and therefore the creditor must close the receivable from the customer and not show the credits on its Financial Statements. For this operation a bank Credit Line is not required.
Are there other costs in addition to the rate?
No, there are no costs other than the rate.
