Credit risk software in the Corona economic crisis for factoring companies Economic crisis in the COVID-19 pandemic
The COVID-19 pandemic is leading to a widespread international recession worldwide. Current liquidity bottlenecks in companies are already causing payment delays. Deferred payments are necessary. Payment defaults are increasing. In some industries, the corona crisis is hitting companies with a weak equity base. Lack of liquidity due to lost business and additional credit obligations for interim financing aggravate the risk of insolvency. Threat of domino effects from broken supply chains and sales markets exacerbate the overall economic situation.
Factoring companies offer certainty
Industry experts agree that factoring will become increasingly important in the coming period. Stephan Ninow, Managing Director of abc finance GmbH, also states in a statement: "Factoring can be a decisive element of corporate financing, especially now, because it offers one thing above all else: certainty."
Which software solutions are now in demand for the credit risk management of factoring companies?