Secure transfer and archiving of supporting documents for funding requests thanks to Efalia ECM


Founded in 1920, CM-CIC Laviolette Financement originally specialized in invoice management and collection. Through its partnership with the banks in the CIC group and then Crédit Mutuel-CM11 since 1981, it provides companies with a flexible, original financing mechanism and powerful management of accounts receivable within the framework of the law on professional receivables assignment. Created in 1992, FACTOCIC was originally owned by Factofrance Heller and the CIC group. In 1998, Crédit Mutuel acquired a share of FACTOCIC, which became the Crédit Mutuel-CM11 banking group’s business center specializing in factoring. FACTOCIC, with its factoring services, offers companies uncapped, secure financing of their accounts receivable. In 2011, the Crédit Mutuel-CM11 group acquired all the company’s capital. The merger between FACTOCIC and CM-CIC Laviolette Financement gave rise to a complete, strengthened center of expertise in accounts receivable, offering any company, regardless of size and business sector, in France or abroad, an appropriate solution for converting its receivables into cash.

Today, CM-CIC Factor represents:

  • Over 10,000 professional and corporate clients
  • Almost $35 billion in receivables purchased
  • An offer of products and services marketed through all the branches of Crédit Mutuel and CIC by a sales team located throughout France
  • Almost 360 employees at the La Défense head office and the Lyon site

The problem

Factoring and accounts receivable financing cover companies' recurring or occasional needs for cash. They enable a goods or services company to transfer its customers' receivables to the factor. For the company, the transfer involves sending its invoices/credit notes (with supporting documents) to the factor for financing. As these transfers used to take place by post, the period before funding was released could be very long (up to two weeks). Faced with these high legal/financial stakes and increasingly tough competition, CM-CIC Factor needed to offer an efficient, secure solution to simplify and accelerate document transfers for its clients.

The solution had to fulfill the following requirements:

  • Enable the fully digital transmission of receivable assignments for clients, together with supporting documents (invoices/credit notes/evidence)
  • Guarantee the security, traceability and integrity of these transfers
  • Guarantee the concept of an “electronic duplicate” with evidential value and compliance with the standards in force
  • Interface with the CM-CIC Factor IT system

The solution provided by Efalia ECM (formerly FileDirector)

Building on the Efalia ECM solution, we worked in partnership with CM-CIC Factor to design the E-Defact solution, which enables CM-CIC Factor clients to submit and archive, securely and electronically, any documents required to process their funding requests (through either factoring or accounts receivable financing).

The advantages of the E-Defact/Efalia ECM (formerly FileDirector) solution installed:

  • Fully web-based solution, eliminating any need for installation on the “seller”‘s device
  • User-friendly dedicated interface
  • Automatic OCR for invoices/credit notes submitted to extract information
  • Full compliance with standards and laws enabling ownership of the invoices to be transferred
  • Documents signed electronically (compliance with the French RGS security standard)
  • Strong integration with the bank’s tools

The benefits of Efalia ECM and E-Defact enable CM-CIC Factor to:

Significantly improve invoice financing times: from over two weeks to just a few hours today.

Increase productivity in the payment acceptance process.

Maintain regulatory and legal compliance throughout the transfer process in a field where the legal and financial risks are considerable.

Become the leader in complete digitalization in recent years.

Satisfy its clients and managers by taking advantage of a simple solution compatible with all the standard office tools and business software.

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