At Faktoro, we are building a new type of financing for SMEs. Our financing is individual, flexible, and adapted to modern technology to take as little time as possible so that our clients can do the most important thing at that time – their business. So, we have to have a lot of tailored decisions.

We aim to provide flexible and fast financing for small and medium-sized businesses through factoring and loans. We select the best financial solutions after analyzing the needs of the company.

We truly know that success lives within the people and partnerships that surround you. Whether success means changing the way people think or simply getting that order out on time, you should have a choice of how to fund your business. We are here to give that choice.

Faktoro provides all types of factoring: classic factoring, silent factoring, reverse factoring, and export factoring.

In 2023, Faktoro had 450 customers and financed 25,000 invoices.

In 2019, the SOFT4 team launched the SOFT4Factoring invoice finance software. As Faktoro was outsourcing its accounting and did not have any IT people or infrastructure in-house, the cloud option on Microsoft Azure was chosen.

Standard SOFT4Factoring software was launched within a couple of weeks; additional development works, per Faktoro requirements, took another two weeks.

After using the standard system for a couple of years, in 2021, the SOFT4 team launched the loans module from SOFT4Leasing in the same SOFT4Factoring system Faktoro used.

In 2023, the customer self-service portals for factoring and loan customers were launched successfully. This allowed Faktoro to serve their customers even better by spending fewer resources at their end.

As Algirdas Gutauskas, the CEO of Faktoro, states, “The process of drawing up contracts and calculating financing fees has accelerated greatly, especially for more complex contracts with delays. Also, the accuracy of the calculations is ensured due to the use of Microsoft Dynamics 365 Business Central (the platform on which the SOFT4Factoring solution is created). We avoid earlier errors of interest calculation due to, for example, incorrect advance payment date, VAT rate, outdated interest data, or technical copying errors.”

Paulius Tyla, the Operation Manager at Faktoro, says, “In our fast-paced environment, the most important thing for our partners is fast reaction. And SOFT4 meets this criterion – it usually works quicker than others. Also, they have the same feeling about price – that is important. Last but not least – the team’s professionalism; they set the card at a high level.”

When a consultation is necessary, it is recorded, which prevents repeating questions and allows smooth training of all members of Faktoro’s team, especially if a problem is recurring. In addition, the customer was issued a custom guide tailored to their system.

In 2024, Faktoro should move its entire financial accounting into Microsoft Dynamics 365 Business Central and, with this, be able to analyze its data more quickly and efficiently, as all data will reside in one seamless system. With integrated financial accounting, people in charge can see all the payments, overdue payments, and interest calculations in one place and make informed decisions in real-time.