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Bibby Financial Services & Comarch Case Study

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CATEGORY: Detail

COMPANY: BIBBY FINANCIAL SERVICES

INDUSTRY: Invoice Finance / Factoring

IMPLEMENTED SOLUTION: Comarch Factoring Platform

SOLUTION SUPPLIER: Comarch

PROJECT START: August 2022

 

Bibby Financial Services (BFS) was looking for a modern and scalable factoring system that could meet the company's growing operational and strategic requirements. The choice fell on Comarch Factoring Platform (CFP), continuing the successful collaboration between both companies. BFS opted for this solution to streamline processes, increase operational efficiency, and tailor the system to specific market needs.

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Key Objectives

Modernizing existing factoring solution to meet expectations in terms of flexibility and efficiency.

Bibby Financial Services needed to modernize its factoring system, which no longer met its expectations in terms of flexibility, efficiency, and development potential. A key challenge was adapting the system to BFS's specific business requirements, including complex currency conversions and integrations with external tools such as RiskFactor.

BFS selected a customized CFP product version to meet their specific needs.

The Solution

A Scalable, Tailor-Made System to Support Global Operations

To address the challenges of flexibility, efficiency, and growth, Comarch implemented a modernized version of the Comarch Factoring Platform (CFP). This solution was chosen because of its robust core features and its inherent flexibility and scalability, which were critical for a growing global player like BFS.

The Comarch team collaborated closely with BFS to adapt the solution to their specific, complex business requirements and integrate it smoothly into their existing IT ecosystem. The resulting system serves as a solid base for streamlining processes, improving data management, and enhancing operational efficiency.

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Key Results

The implementation delivered a modern factoring system that directly addressed the core challenges of flexibility, efficiency, and integration capacity.

Key Area: Outcome

Operational Efficiency: Processes were streamlined to increase overall operational efficiency and allow staff to focus on higher-value tasks.

System Flexibility: The new system better meets expectations in terms of flexibility, adapting to BFS’s specific business requirements like complex currency conversions.

Foundation for Growth: The solution sets a foundation for future growth by providing a modern, scalable platform ready for development potential and new market needs.

External Integration: Successful integration with external tools, such as RiskFactor, secured a comprehensive and efficient risk assessment process.

 

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    “It wasn't always smooth, and we had to make tough decisions along the way. But what stood out was Comarch’s ability to stay flexible and responsive in this environment. Despite the challenges, we reached a working solution that meets our operational needs and sets a foundation for future growth.”

    Ewa Gawrońska-Micuń Head of Strategic Marketing and Product for CEE Region, Country Manager Poland, Bibby Financial Services

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