Nikola Todorović, Head of Sales at invoitix – We are starting financing and factoring of domestic road transport

The invoitix company, which achieved exceptional success in the field of international transport financing in the past four years, has recently expanded its portfolio with another service that the transport industry has eagerly awaited – the factoring of domestic road transport in Serbia, i.e. the factoring and financing of transport orders if both the client and the issuer of the transport order come from the Republic of Serbia.

In an interview with the PlutonLogistics portal, the Head of Sales at invoitix, Nikola Todorović, talked about the specificities of the new service, the steps that preceded its introduction, as well as the plans of the invoitix company and the services they plan to offer to their clients in the future.

PL: Why have we waited for the factoring of domestic transport in Serbia for so long?

– Most of the administrative procedure was completed 5 months ago. However, we wanted to make sure that we have everything in order so that we can enter the market with 100% certainty that we can offer our existing and future clients the recognizable invoitix quality.

Invoitix company has been known on the domestic market for over 4 years, purchasing only foreign transport orders until recently. During these 4 years, we have signed more than 1000 contracts with companies who use our services regularly, on the basis of financing and factoring of international invoices.

We launched factoring of domestic road transport at the moment when we were fully confident in our services, our readiness, and our knowledge to offer the same quality of services in that segment as well. Of course, there is also the legal framework, which we need to accommodate.

PL: What will be the difference compared to the previous financing of international transport?

– The procedure pretty much remains the same, if not identical. This is one of the reasons why we prepared carefully and meticulously to start providing this service because we wanted to keep the same system and continue doing business the same way we have been up until now with the financing of international transports.

The only change we wanted to make in this case was to deepen cooperation with our current clients, therefore, in addition to international financing, we now also finance domestic transport. The services we have been offering so far will remain the same: review of documents, client payments, cooperation, and signing of contracts.

PL: What is the potential for growth of factoring in the Serbian market?

– Factoring in Serbia is still in development, especially for international business. When it comes to transport factoring, invoitix has the largest share among several companies, which we are very proud of.

As the company in charge, we actively work on market education. Factoring as such is partly unknown, but generally not a complicated matter for any economic branch. This way of doing business, i.e. using factoring services, particularly gains importance in challenging situations and when market conditions are unstable, as is currently the case.

PL: In addition to improving the liquidity ratio, what other benefits does invoitix offer to its clients?

– Factoring is often considered only as an option for quick payment, a day or two after invoicing, where the factoring company keeps their commission, and often a part of the invoice amount that they subsequently pay to their client upon receiving funds from the debtor.

Invoitix wanted to offer more than that in terms of safety and security of the entire process, and factoring is only part of what we do.

For its clients, invoitix provides access to credit rating information for over 20,000 companies in Europe. In this way, we help clients to assess their client, before accepting the transport.

Another important point our clients can count on is the time saved in creating invoices, thus also saving the manpower required by a company for the entire process of invoicing and invoice collection – invoitix does it for them.

PL: What else can we expect from invoitix until the end of the year? What are your plans?

– We plan to offer a complete ecosystem of services necessary for the driver on the road: tax refund, ferry booking, roadside assistance, and the like. Of course, the purchase of invoices remains our basic service, but our goal is to offer our clients more services in one place in the future, as well as a simpler and easier payment process.

To that end, we are forming a series of strategic partnerships at the European level, and we will start offering some of these services by the end of the year.