14 Sep Dutch Factoring: spot on for the liquidity needs of haulage companies
OOSTERHOUT, 14 September 2017 – Students from Erasmus University in Rotterdam have analysed the main opportunities for logistics companies to benefit from innovative finance products. Dutch Factoring, especially, seems to be an adequate answer for urgent liquidity needs among haulage companies. This easy-to-use, technology-driven solution provides instant liquidity to SMEs without the disadvantages of traditional financial products.
Logistics & FinTech Meetup
The study was conducted based on the ‘Logistics & FinTech Meetup’ hosted in Amsterdam earlier this year. This meeting hosted by Holland Fintech and Dinalog aimed to bring logistic professionals and FinTech initiatives together. The use of new technologies creates new (financing) opportunities for entrepreneurs. One of the FinTech presenters during this ‘logistic & FinTech Meetup’ was Voldaan. They pitched their Dutch Factoring services; a new and simple view on the traditional factoring product allowing entrepreneurs to regain control of financial decisions. This approach did not go unnoticed by the Rotterdam School of Management. Therefore, it was decided to conduct a study on the potential of this new Voldaan approach. Four students examined the “fit” between haulage companies and the Dutch Factoring approach of Voldaan for a period of two months.
Pay-per-use
The study showed that Dutch Factoring fulfills the liquidity need of haulage companies well. Just like traditional forms of factoring the working capital urge is met but the smart use of technology creates the much-required flexibility for SME entrepreneurs. For instance, the entrepreneur decides himself as to which invoice to “lend against”. As a bonus, a fee is charged only over invoices accepted by Voldaan, and it is standard and transparent. So the costs of finance are completely up to the entrepreneur, putting him in charge of his own financial decisions. The study showed that these features were appreciated by both the entrepreneurs already using Dutch Factoring and those who did not know the Dutch Factoring concept yet.