During dedicated webinar on January 23, Olena Gryniuk (SME Banking Club, WOA.digital) talked with Karol Leszczyński, Product Development Manager at Comarch Factoring Platform (one of the leading tech providers in the CEE region), and Ewa Gawrońska-Micuń, Head of Strategic Marketing and product for the CEE region, Country Manager Poland at Bibby Financial Services, about transitioning from old factoring systems to new ones and practical insights to optimize the process for the factor and the vendor.
Olena began by inquiring about the primary motivation behind Bibby Financial Services Poland’s decision to overhaul their factoring system. Ewa explained that the impetus was the need to transition from an outdated system, rooted in British regulations and practices, to one tailored to the Polish market’s requirements, including invoice-level finance, split payments, and upcoming mandatory e-invoicing changes.
Following the signing of the Letter of Intent (LOI), Comarch organized workshops where both Comarch and Bibby meticulously reviewed the system, block by block, to demonstrate its functionalities, operational mechanics, and standard features. This collaborative effort aimed to identify customization needs. Ewa emphasized the importance of revising the factoring process prior to implementing the new system, with the goal of introducing modern functionalities rather than replicating the old system.
A ready-made factoring solution can be implemented within 6-9 months, though customization may extend this timeline. Ewa and Karol also discussed the customer migration strategy, opting for a “Big Bang” approach, migrating all customers simultaneously. This required several months of thorough preparation at Bibby Financial Services.
Establishing a post-implementation roadmap is crucial. Karol highlighted that their system implementation includes a detailed release plan and a two-year roadmap, which must be meticulously planned. Comarch provides a release plan outlining the dates for new functionalities, requirements collection, and collaborative efforts.
For more insights, watch the webinar recording:
