Optim Group: Best Factoring Services Provider Southeast Asia 2015
The unsung hero of small and medium-sized businesses, and quite a few larger ones as well, factoring usually fails to receive its proper due. Providing invoice discounting services may not seem the most eye-catching aspect of the financial industry; it is essential to the maintenance of healthy and predictable cash flows and, as such, a service of inestimable value.
In Singapore, Optim Group is the leading provider of alternative funding through factoring. The firm offers efficient invoice discounting – also known as spot factoring – to companies that wish to monetise their receivables and thus free up funds to drive growth. Founded in 2012, Optim Group has managed to reinvent factoring and position the sector as a pillar of SME financing.
By championing transparency and streamlining procedures, Optim Group is able to provide near-instantaneous funding to its clients through factoring facilities that do not require asset security or long-term financial commitments.
Revolutionising the spot factoring sector in Singapore, Optim Group is widely praised for the simplicity of its procedures and the ability to act fast, thus enabling clients to seize opportunities as they arise.
The CFI.co judging panel recognises the value of factoring to business of all sizes, and in particular to SMEs. Smaller businesses are often held back by the lack of credit. Commercial banks and other lenders are also quite reluctant to deal with ambitious start-ups. Even firmly established SMEs find it hard to obtain the credit needed to drive expansion. Factoring offers a convenient solution. By underwriting in a straightforward manner the expansion of business, Optim Group provides a much needed service. The judges are unanimous in their decision to present the company with the 2015 Best Factoring Services Provider Southeast Asia Award.
