Project description
New AI tool to predict invoice paydays
Many small and medium-sized companies are facing challenges on a daily basis to keep their operations afloat. Cash flow and the company's liquidity often cause great uncertainty that can potentially lead to bankruptcy. While accessing finance through invoice trading (factoring) is already established in the market, the practice currently favours the financier rather than the seller. The EU-funded IRP project is developing a new, real-time, spot market solution that enables more transparent pricing for both buyers and sellers as well as opening up the market to players who have not previously had access to investing in invoices. This broadening of the market will mean better pricing for SMEs, ultimately enabling them to better plan, adapt and manage liquidity.
Objective
INVOIER has introduced a global, scalable and disruptive model for companies short term financing of working capital. With
unique risk measurement tool we are giving the EU companies a competitive advantage, resulting in the following value
proposition:
*Lower cost of companies’ working capital
*Risk reduction in customer losses for the European companies
*Proposition of a new adjusted returns for institutional investors looking for a new asset class
INVOIER offers first-of-its-kind real time Invoice Spot Market with better risk classification. At the heart of our solution is an
AI element which makes possible a much more focused and accurate risk assessment as our tool is able to predict the
actual pay-day of the traded invoice. Thus, with the AI element in place we are able to introduce a unique and completely
new way of measuring risk for individual receivables as opposed to risk with individual companies. By harnessing our AI
soution to the INVOIER Invoice Spot Market, we will deliver a wholly new level of market transparency and engagement on
the part of: the sellers - who will now be able to participate more actively knowing the market value of their invoices (real time
prices) and buyers – getting access to completely new asset classification. INVOIER’s solution will have normalizing effect
on prices and operation as well as leveling the playing field between key participants on the market.
Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-2 - SME instrument phase 2
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
111 30 Stockholm
Sweden
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.