“Wholesale trade is a segment that is highly dependent on trade turnover,” says the head of Life Factoring, Viktor Vernov. “In a growing market, it rises rapidly, in a stagnant market, it also sharply decreases.”
2 August 2015 Viktor Vernov: “We help SMEs make money in a crisis”
Viktor Vernov, General Director of Life Factoring, spoke about what factoring is and why it is more profitable than loans.
July 29, 2015 “Life Factoring” gives entrepreneurs confidence in counterparties
Factoring company “Life” has launched a campaign “1 + 1 = 3”. Factor clients who use the Life Insider service for checking counterparties twice receive the third check completely free of charge.
29 July 2015 Factors and retail: less risk
“Why don’t debtors always like us? Retail believes that factoring makes the product more expensive, and that the factor covers all risks at its expense, trying by any means to secure the right of claim against the debtor, ”explains Viktor Vernov, General Director of Life Factoring. – Thus, the hypothesis was generated that the healthy pays for the sick. Many retailers have tried to create their own factoring business instead of buying on a delay and making money on it, but they have failed. Everyone should do their own thing, the specialization of factoring is such as not to increase the price of the product.
17 July 2015 Factoring has proven its effectiveness in a crisis
Life Factoring Company became a laureate of the “Growth Basis” prize for supporting SMEs.
June 30, 2015 Transition period: how to save on patching solutions
Leasing, factoring companies and banks often provide services through their own online systems. In such cases, EDI systems are branded to match the corporate identity of the financial structure. The client does not care whose program was involved in working with him – the transition from one to the other is completely invisible to him.
So, in “Life. dock ”the clients of the factoring company“ Life ”exchange waybills and invoices. With just one click, the documents go to the factor. The risks of challenging transactions are reduced to zero. Access to express financing has become noticeably easier. At the same time, geographical restrictions have been removed, which allows the factor to expand the pool of loyal customers.
June 25, 2015 Viktor Vernov: “We stopped building a strategy based on rates for the consumer and switched to calculating marginality”
Viktor Vernov, General Director of Life Factoring, told CFO-Russia how he revised the credit policy and decision-making principle in his company, why the role of Risk based pricing has increased and how the company is now building a system of debt prevention.
1 April 2015 On all three sides
Russian factoring companies provided financial support for 9 million deliveries last year. Behind each is an impressive set of documents (waybills, invoices, etc.) that need to be prepared, sent, processed, stored. Isn’t it time to transfer all this paper workflow to digital technologies?
27 March 2015 Factoring needs new niches
According to Viktor Vernov, General Director of Life Factoring, Moscow and the Moscow region are still a “cash cow” for most of the factoring market participants in terms of profit. For example, in the factoring portfolio of Life Factoring, the distribution of business between Moscow and other regions is approximately 50-50. For most other companies, the distribution is about the same, sometimes there is a slightly greater bias towards Moscow. In the coming year, the regions will not become a significant source of profit for factoring companies.
26 February 2015 Victor Vernov, Life Factoring: IT has become both more complex and simpler
Life Factoring was the first company in Russia to engage in express factoring for small and medium-sized businesses. Life Factoring CEO Victor Vernov talks about the role of IT in the business of providing financial resources.