GE Capital Factofrance

Objectives
In France, GE Capital Factofrance wished to make its inbound client communications fully digital, with all types of incoming invoice document managed in a single workflow that converted them into a single decision-ready format for insertion into existing internal business processing systems.

The Pitney Bowes solution
Pitney Bowes was chosen to provide this front-end inbound document workflow, covering some 10 million invoices financed each year.  The Pitney Bowes service digitises incoming invoices, converts them in a secure process to an appropriate format, categorises each invoice with key metadata, and inserts them, decision-ready, into internal systems, where they are assessed and accepted for financing.

During initial set-up, the existing twelve stage document management process was optimised to just three key steps.  Moreover, although the front-end inbound communications workflow is fully integrated with the factoring company’s business process management systems, full business flexibility was retained by making sure that the two systems could be uncoupled at any point.  This meant that the client company was at no point ‘locked-in’.

This project forms an integral part of GE Capital Factofrance’s world-wide programme for sustainability, which aims to reduce the organisation’s greenhouse gas emissions by 30%. 

Results
By implementing this inbound client communications solution, GE Capital Factofrance has eliminated 5 million pre-printed sheets per annum in one operating country alone.  Digitised document availability has removed 400 file requests each day.  In implementation so far, around 2,500 duplicate invoice requests every month are also avoided.  All these add up to substantial cost and productivity gains, while also contributing to the company’s environmental objectives.  From the organisation’s customers’ point of view, invoicing is now granted within eight hours of receipt, a major improvement on the previous standard of 24+hours.  

Benefits of Digital Communication Centre service

• Inbound communications of all types processed, decision-ready, into a correct input format for internal systems 
• Productivity, cost and automation gains from digitised inbound document flow
• Major reduction of pre-printed document requirement
  Digital access eliminates expensive manual processing of file requests
• Invoice reprints greatly reduced  
  

Client profile
GE Capital France, a subsidiary of the Group, delivers a broad range of financing solutions to 130,000 companies.

As a player that is independent of the banking networks, GE Capital France draws on more than 40 years of experience to position itself as the French specialist in asset finance, offering a real alternative to conventional credit solutions to all types of companies.

Factofrance, wich is the subject of this case study, belongs to GE Capital. Factofrance leads the factoring sector in France, with €33 billion funded and 12 million invoices processed in 2009. Day after day, Factofrance strives to develop new financing solutions that better meet the needs of companies.

To this end, Factofrance pays very close attention to the new technologies that make it easier to process invoices and significantly reduce the financing schedules proposed to its customers.