The economic consequences of the pandemic and the war in Ukraine present companies with various obstacles, above all the increase in the cost of raw materials. One of the fundamental challenges for ensuring competitiveness and business development is the digital transition, an issue on which the Credem Group is committed to supporting activities with over 3 billion in loans in 2022 and with Business On, the evolution of traditional internet banking into a platform full of digitally accessible services
In a historical moment marked by the consequences of the pandemic and the war in Ukraine and by a generalized increase in the cost of raw materials, businesses are experiencing a very difficult economic situation. A context that places companies in the face of major obstacles and at the same time presents opportunities to overcome the crisis: one of these is the digital transition, one of the most complex challenges but also the key factor in guaranteeing competitiveness and development for businesses. A digital transition in the face of which supporting businesses becomes fundamental, as demonstrated by Credem’s commitment, which with the Business On offer becomes a competent and proactive partner, capable – says Massimo Arduini, Chief Commercial Officer of Credem Banca – of responding to financial needs and the extraordinary needs of companies.
Funding and innovative tools
Credem’s action in support of businesses takes the form of two parallel tracks, as explained by Corrado Biuso, Large Corporate, Mid Corporate and Small Business Coordinator: a financial one – with over 3 billion in loans to businesses in 2022 – and one based on instruments innovative solutions to make daily activities easier, such as Business On, the evolution of traditional internet banking into a platform full of digitally accessible services. Alongside this, a vast range of digital services developed by CredemTel, a specialized company of the Group.
The main features of Business On
Business On by Credem is a platform of financial and administrative services dedicated to businesses, all accessible digitally. It is designed to support companies in reducing management complexity, having a single tool from which they can access a variety of services and monitor their financial situation. But also to save time, by automating some daily operations, freeing up time for higher value-added activities, and to access services from anywhere, without necessarily going to a branch or a specific company location. Business On allows you to create different users, each of which has its own credentials, and to assign information powers or devices to each based on their role. Furthermore, the multi-bank function allows the customer to have an overall view and operate on all their current accounts, even those of other banks, using the same credentials. The electronic invoicing service, issued by CredemTel, can be integrated into Business On: a method that facilitates the fulfillment of legal obligations in an easy and intuitive way and offers the possibility of automatically generating presentation slips or bank transfers from invoices. Finally, within Business On, thanks to the commercial windows, it is possible to access the services of the Credem Group, such as leasing and factoring, but also a selection of consultancy services offered by selected partners, for example consultancy and placement services companies in the Pnrr area.
The Working Capital digital assistant
The main novelty within Business On is Working Capital, a tool – explains Corrado Biuso again – for monitoring receipts and payments, reconciling account movements with invoices and with always updated summary views of the financial situation for all the accounts that the company will also link to other banks. The goal is to help the company keep the flow of working capital under control and to provide support in understanding whether the invoices issued or received by the company have been collected or paid, a real digital assistant that allows have a clear and concise view of the working capital trend. Available, within Working Capital, a dashboard on the financial situation, a graph on the trend of the active and passive cycle and various synthetic and operational widgets, for example in relation to due or overdue collections. This tool can also dialogue with the electronic invoicing service in automatic mode if the service issued by CredemTel is chosen, making it possible to reconcile account movements with invoices. But it is still possible to exploit the potential of Working Capital with any electronic invoicing service, by manually uploading your invoices. Within Business On, customers can also find reconciliation proposals, based on the analysis of connected current accounts: in this way the Working Capital function can be exploited even more fully.
A consultant also available remotely
However, the technological tools made available by Credem with Business On certainly do not replace the consultancy activity. The creation of the digital services platform, Corrado Biuso points out, does not change the centrality of the relationship with a consultant/wellbanker, who remains the company’s point of reference even guiding it to discover digital tools. Within Business On, customers can talk to their advisor and ask for an appointment even via video call: in this way they won’t necessarily have to go to the branch to talk to their wellbanker.
The challenges of the future
If the digital transition is an opportunity for the present, it is certainly destined to influence the future of companies too, together with other challenges such as the ecological and energy transition or issues relating to sustainability. The Pnrr, observes Massimo Arduini, offers many opportunities in this sense and this is the reason why Credem has created a task force to guarantee a range of products and consultancy that is always in step with the provisions. The Credem Group’s commitment, concludes Arduini, is to remain a point of reference for companies by constantly investing in innovation and training, with the idea that Wellbanking is also this: working for the financial and life well-being of companies and, consequently, of the community.