The direction of factoring in our country now dynamically develops as thanks to him the companies of real sector receive a possibility to attract quickly financing. How the relationship between the factoring companies and users of these financial services is built up, the CEO of LLC UNIFACTOR, PhD Econ., Associate professor of Financial University under the Government of the Russian Federation Ilya POKAMESTOV has told in NBJ interview.

NBJ: Ilya, share your opinion on what tendencies and factors define development of the situation in the financial market in general and in the market of factoring services now in particular.

I. POKAMESTOV: If to speak about the financial market in general, then here positive tendencies, unfortunately, aren’t observed yet. The situation remains quite difficult and from the point of view of funding of bank activity, and from the point of view of financial results of most banks. A factoring part of the financial market feels better, but I wouldn’t perceive it as joyful news. First, because the factoring companies depend on payment discipline of the clients, and it won’t improve if in the country economic growth isn’t resumed. And, secondly, because we sensitively react to a condition of a banking system. Financial credit institutions for us are both a source of funding, and the channel of cross-sales.

NBJ: And in what, in your opinion, the main advantages of factoring products consist?

I. POKAMESTOV: The first and main advantage – a unsecured character of our products. The second – the speed with which we consider applications and we provide our products: unlike banks, we work with our clients, their contractors and debtors every day. Banks aren’t always ready to such work, they are more conservative. Besides they need to create additional and very expensive infrastructure. The factoring companies have her and therefore they have odds before the colleagues in the banking sector.

NBJ: Plus to that the factoring companies aren’t under such rigid regulation as banks.

I. POKAMESTOV: Yes, though, I admit to you honestly, personally I would vote for that regulatory requirements to participants of our sector have begun to appear. It is necessary in order that the competition became more transparent that those who abuse trust of the clients and partners didn’t work at the market. Also the question of development and adoption of standards of activity of the factoring companies is demanded. We – a part of financial sector which is extremely important from the point of view of macroeconomic stability of the country in general. Means, we have to understand the responsibility to shareholders, clients and partners.

NBJ: How the risk management is organized in the UNIFACTOR company?

I. POKAMESTOV: It is natural that we use the software, we introduce limit restrictions and as I already spoke, it is attentive and that is especially important, continuously we monitor a financial status of our clients. But with experience I am more and more convinced that a cornerstone of an effective risk management is the intuition – and my personal and the staff of our company.

NBJ: The clients of your company are generally by the SME enterprises or large business too?

I. POKAMESTOV: You know, I am not a fan of this division on small and large. For me the size of the company client isn’t the defining criterion. I am concerned by another: that business of the client was transparent and clear, that credit history of the company was good, that the management was adequate and that and his representatives, and at the company in general had no problems with the law. The last moment is really basic for us. No matter, how many years have passed since the moment when the person has violated the law, it is important that he has made it. And in this case we have one decision: we won’t cooperate with such company.