Lago Partnership with PlusAdvance Launched in 2023 Has Been Renewed

PlusAdvance, an innovative SME specializing in solutions for optimizing working capital, extends its partnership with Lago, a leading design company in the furniture sector, a collaboration started in 2023 to optimize supply chain finance.

Lago and PlusAdvance will continue the “Pagamenti Sprint” project, a dynamic discounting initiative created to support the design company’s supply chain. This initiative was a great success last year as demonstrated by the participation of over 50% of the company’s suppliers.

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Thanks to the PlusAdvance platform, Lago can move liquidity in favor of the supplier

Thanks to this agreement, it will be possible to continue to guarantee the flow of liquidity which, in the context of supply chain finance, allows suppliers, always on a voluntary basis and depending on their cash needs, to manage deadlines in a flexible manner. This dynamic discounting project offers benefits for both the company and its suppliers.

The main advantage for the supplier is that of being able to anticipate the collection of their expiring invoices, based on their specific needs and without having to turn to traditional banking or financial channels, with benefits in terms of costs and speed.

Thanks to the PlusAdvance platform, Lago can move liquidity in favor of the supplier also with a view to sustainability, thus paying the invoices with the requested advance in exchange for a small discount, strengthening the supply chain and consolidating existing relationships.

PlusAdvance can now count on over 3,500 client companies, micro enterprises, small and medium enterprises and large enterprises, which operate in the most diverse sectors, including design and which use the various services offered by the platform, including dynamic discounting, confirming , invoice transfer, reverse factoring and credit cards for B2B payments. The company ended 2023 with 165% growth in the volume of invoices managed on the platform.

“We are proud to be able to support, thanks to the technology of our Supply Chain Finance platform, a leading company in its sector like Lago – comments Massimiliano Gattari , CEO of PlusAdvance . Thanks to the solution we offered , in 2023 Lago’s suppliers were able to count on an average reduction in collection time of over 30 days, thus guaranteeing an extra liquidity flow they can count on. Improving the management of working capital remains one of the priorities for our companies, and this is why we continue to invest in extremely advantageous innovative solutions to enhance the liquidity of companies, which would otherwise risk being eroded by rates.”

Furthermore, thanks to the PlusAdvance dynamic discounting program, Lago facilitates its supply chain in accessing liquidity, so that suppliers obtain an immediate improvement in payment conditions for their already approved invoices, reducing the need for debt . In this way PlusAdavance promotes a path of economic sustainability for suppliers as the risk of “business crisis” is mitigated.

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(Featured image by  CARTIST via Pixabay)

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First published in IL GIORNALE D’ITALIA. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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