Among hospital suppliers, we find all types of companies, from large pharmaceutical corporations to many SMEs and independents.
For an SME, being a supplier in the hospital sector can be a real challenge in terms of cash flow management. Indeed, a too significant gap between the payment terms of their purchase and sales invoices can create a cash flow gap.
Today, we dive into the daily life of one of the hospital sector suppliers, with Sébastien Ligot, managing partner of Hospinova for a decade.
Can you tell us more about Hospinova?
Hospinova is a Belgian company established in Leuze, north of Namur, and was founded about ten years ago. Our mission at Hospinova is to provide high-quality solutions to health professionals (mainly in Belgium) in the fields of orthopedic surgery, neurosurgery, and anesthesia.
Our team, with 25 years of experience in the medical sector, is distinguished by its adaptability, commitment to satisfaction, and expertise.
What are your main challenges today?
Internally, managing our stock for daily consumables is at the top of the list.
Then, managing our investment projects poses an additional challenge, with cash flow constraints when we have to manage our operating expenses (including salaries), our purchase invoices from various suppliers, and monthly VAT simultaneously.
Moreover, the difference in payment terms for our purchase invoices compared to our sales invoices to hospitals creates a gap in our cash flow.
How did you hear about the Digit89 platform?
We heard about Digit89 through one of our clients. They mentioned the platform, explaining that we, as suppliers, had free access to it.
What does the Digit89 platform allow you to do as a supplier?
Digit89 offers easy visibility on the status and processing of our ongoing invoices.
Additionally, it allows us to request immediate early payment, with a discount starting from 0.5%, and to receive the amount within 48 hours.
This efficient solution helps to reduce payment delays and to free up cash flow when needed.
What distinguishes Digit89 from other solutions?
What distinguishes Digit89 from other solutions is primarily its flexibility. We appreciate the possibility of accessing the platform for free without any usage obligation.
Moreover, the platform offers the freedom to request early, even immediate payment for one or more invoices, according to our cash flow needs.
Digit89 also stands out for its ease of use, as hospitals automatically communicate our invoices on the platform.
What’s the current assessment?
The current assessment for Hospinova is that Digit89 represents an effective solution in terms of cash flow management.
However, the majority of the hospitals involved in our investment projects have not yet adopted the platform, thus limiting our ability to optimize our cash flow management.
As suppliers, having all our invoices from several hospitals grouped in the same place would be a real asset to maximize our cash flow.
In conclusion, Digit89 serves as a support tool for hospital sector suppliers by offering increased visibility on ongoing invoices and the possibility to request immediate payment.
The platform’s flexibility, combined with its ease of use, represents a step forward in optimizing cash flow management for suppliers, like Hospinova.
Finally, as a “multi-client” platform, Digit89 suggests a broader vision. If all hospitals adopted this solution, it could become a systemic element within the Belgian hospital sector. Harmonization that would allow medical facility suppliers to enjoy a healthy and stable cash flow.
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