Unicredit supporting suppliers in today’s liquidity crisis
by Jack Large
Venchi, the historic manufacturer of high-quality chocolate and ice who operates in 70 countries around the world, has adopted UniCredit’s innovative dynamic discounting solution developed by the fintech FinDynamic.
Support for suppliers
The dynamic discounting tool enables Unicredit customers to optimise their working capital and effectively support their own supply chains. Venchi is using the dynamic discounting service both in Italy and abroad, to help their suppliers to alleviate possible financial tensions from cash flow problems.
The solution created allows Venchi suppliers to view their invoices automatically on an internet and mobile platform, and easily select those they want to pay in advance.
Daniele Ferrero, CEO of Venchi, comments: “At this moment more than ever it is necessary to support small businesses. This innovative tool developed in collaboration with FinDynamic and UniCredit allows us to be close to our suppliers, facilitating and making the payment system less burdensome for them”.
Pietro Campagna, Co-Head of GTB Italy at UniCredit, says: “Through our collaboration with FinDynamic, we have made dynamic discounting one of the solutions we offer our clients to manage their supply chains. In the difficult, uncertain climate we find ourselves in, strengthening links with suppliers translates into a big competitive advantage, above all for a company like Venchi, which has always paid great attention to the quality of its products. Furthermore, for suppliers, being able to bring forward payment in exchange for a small discount guarantees them a good level of liquidity.”
CTMfile take: Businesses are always searching for ways to manage their working capital more effectively. Dynamic discounting lets them offer their suppliers advance payment of invoices, using their own liquidity, at a discount that varies dynamically depending on the number of days the payment is made before the date on the invoice.
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