Comarch – A new member of the International Factors Group

Comarch, the leading Polish software house and provider of IT systems for the banking industry, has joined the IFG (International Factors Group) – a Belgian factoring organization whose associates consist of the leading factoring companies, factoring software providers and other market players worldwide. Comarch is the first IT service provider from Poland to join the other members of this prestigious factoring organization.

The International Factors Group, along with Factors Chain International, is the most important international factoring organization, associating approximately 130 members from over 60 countries round the world. IFG supports the international exchange of experiences in the factoring field, organizes conferences, seminars and guarantees its members access to an IT platform. The platform supports conducting cross-border business for factoring companies with an offer containing products based on the international factoring business. Comarch, as a member of the IFG, now has the possibility to extend its own product (Comarch Factoring) and hence to sharpen its position on the market of factoring software providers.

- Membership in IFG is the next step, which gives us the ability to extend Comarch Factoring by novel functionalities meeting the newest market trends and expectations. We are aiming to build absolutely the best solution on our market and extend sales overseas. Membership of IFG guarantees our access to the IT platform supporting the exchange of information between the IT systems of factoring companies that participate in cross-border transactions. We plan to automate all these transactions and incorporate them into our factoring software. Nowadays, with this form of financing becoming more and more popular, the extension of our system’s scope by such products will certainly constitute an interesting offer for our current and prospective clients. Moreover, through the participation in factoring conferences and specialized seminars, we will provide ourselves with the access to expertise, information about best practices and the newest market trends outside of our borders, says Mr. Jaroslaw Zając, Consulting Director at Comarch.

Comarch has been investing in the development and extension of its factoring software for several years. According to the newest figures released, two of the most rapidly growing factoring companies in Poland in 2008 (DnB NORD and BGZ Bank), have decided to purchase and deploy Comarch Factoring.

- Modern IT factoring software ensuring automation of business processes and supporting effective maintenance of business growth can allow factoring companies to focus on their business. Managers do not need to worry about limitations in the operational field that usually constrain the ability to effectively increase factoring turnover. Limitations of an operational nature can be eliminated by using appropriate factoring systems just like Comarch Factoring, ensures Krystian Suchodolski, Business Solution Manager responsible for factoring software systems.

In May 2009, Comarch is participating in the international factoring conference hosted by Marcus Evans in Vienna. Comarch’s experts will be sharing their experiences in the field of automation of business processes within factoring companies.