The Cr invoiceanddito Electronic It has become an innovative instrument of strong growth. Allows expanding the financing capacity of companies MSMEwithout affecting your bank credit limits, since the operation is without payment guarantee by the MSME.
According to the information provided by the Caja de Valores, the volume of financing through the discount of these instruments has grown from $1,000 million annually in its first year (2019) to more than $60,000 million in the first 6 months of 2023.
If we analyze the annual traded volumes in the last three years, we can observe a very important year-on-year growth rate, well above inflationary indices.
Considering the amounts negotiated in the first semester and the projections for the rest of the year, we estimate that in 2023 the volume of transactions will exceed $120,000 million. Considering that it is a new instrument, its growing acceptance by senders and receivers allows projecting exponential growth in the next 5 years.
As can be seen in the previous graph, technological trading platforms have been a fundamental factor for the development of this instrument, concentrating more than 80% of the traded volume.
They have used their technology to help SMEs to manage and negotiate their FCE and at the same time they have collaborated with large companies in the migration of payment processes to suppliers, eliminating payment with CPD to start accepting FCE.
Considering the large number of large companies from different sectors that are currently working to modify their systems in order to accept FCE from their suppliers, we expect enormous growth of the instrument for the first months of next year.
It should be noted that for banks, the FCE discount is very attractive, since it allows them to increase financing to the sector. SME assuming the risk of large paying companies.
On the other hand, it is an ideal option for short-term investment funds oriented to products SMEfor which we estimate their increasing participation in the negotiated volumes.
How to operate the Cr Billsanddito Electreitherunique
The Electronic Credit Invoice has a simple operation, and enables micro, small and medium-sized companies, suppliers of large companies, to access new sources of financing, without compromising the traditional bank credit line, while increasing certainty in the charge, something that is not a minor point these days.
The FCE They are loaded into the AFIP system and can then be negotiated, on digital platforms, capital markets or banks, with automatic credit to the bank account of the issuer of the invoice.
Furthermore, the Central Bank (BCRA) has established incentives for the development of this instrument that allow the minimum cash requirements of financial entities that acquire these electronic invoices to be reduced, which has been generating growing interest from said entities.
Finally, it is important to highlight that given the leadership that technological platforms have taken in the negotiation of these instruments, the BCRA has created the Registry of MiPyme Financing Platformsin which these companies must register.
In the same communication in which the aforementioned registry originates, the BCRA indicates that it may include other financing instruments. MSME in the future, which would be great news for the SMEssince it would add more financing offer to them.
SME financing specialist President & CEO at InvoiTrade.
Source: Ambito
