Warsaw / March 18, 2018 / News from the largest International Conference for Factoring firms held in Warsaw, Poland. This International Event attracted key sponsors including: Codix, HPD Software, Squire Sanders, Efcom, FIDIS, DEMICA, Neurosoft, Smart Factor, Premium Technology and ING. Association and Media Partners included FCI, European Bank for Reconstruction and Development, International Chamber of Commerce, IFG, IB Contacts, Supply Chain Brain and TRF News.
Attendees were senior management teams from business finance, factoring companies, banks, and asset-based financiers as well as corporate executives. Receivables finance and supply chain experts from 30 countries.
Factors Chain International is a global network of leading factoring companies, whose common aim is to facilitate international trade through factoring and related financial services www.fci.nl.
1. For the first time since factoring data has been compiled, the global factoring industry exceeded $3 Trillion in worldwide volume in a single year. For 2013, total global factoring volume was $3 Trillion or an increase of 10%.
2. The strong global performance in the factoring industry is impressive when you consider many if not all of the other providers of capital, traditional banks, fared nowhere near as strong a performance as the factoring industry overall.
3. If analyzing the factoring volume data over a longer period of just 5 years coinciding with the onset of the global financial crisis the results are even more impressive. Global factoring volume has actually doubled in the 5 year period. The increase of 1 Trillion EURO’s represents a 15% CAGR (compound annual growth rate)
The America’s remain third, behind both Europe and Asia in factoring volume. Global market share for the America’s is only 10% as of the end of 2013, but portends to be the largest opportunity for growth over the next decade.
In most parts of the world factoring is a universally accepted tool that is vital to the financial needs of small and medium sized businesses.
There is no question that factoring is a thriving, global force that facilitates commerce. In the United States as is the case globally, almost any business or industry can profit by having a professional factoring firm as a partner. More and more businesses in the United States could profit as others have globally by utilizing the professional services of a factoring firm to grow and expand without the shackles common in more traditional bank funding alternatives.