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Oracle Customer Success—Neurosoft S.A.

Neurosoft S.A.

Neurosoft Leverages Oracle Blockchain Platform to Ease Invoice Factoring


Oracle Blockchain Platform is a natural fit for the invoice factoring industry. It enables us to streamline previously fragmented data from disparate systems to a single source of truth that can be trusted by all parties involved. Risk mitigation in factoring is paramount, and Oracle delivers the necessary security and helps settle transactions in near real-time.

— Nikolaos Vasilonikolidakis, CEO, Neurosoft S.A.

Neurosoft Slashes Invoice Factoring Risks and Optimizes Customer Cash Flows with Oracle Blockchain Platform

Neurosoft has been in the factoring and Supply Chain Finance business—where enterprises sell their accounts receivable to a third party at a discount to receive immediate cash—as a software solution provider for more than 18 years. The company also provides consultancy and support across the entire information and communication technologies (ICT) spectrum, including infrastructure set-up, cyber security, and administration. Neurosoft develops and markets Proxima+, a powerful, E2E, web-based business factoring software which assists factoring companies to meet their objectives in a cost-efficient and timely manner. With the emergence of blockchain technology, the company is bringing the advantages of the technology to the factoring sector to help streamline financial transactions and increase trust across the ecosystem of buyers and sellers.
Business Challenge
  • Help companies streamline and accelerate the conversion of accounts receivable into liquid assets through factoring, empowering them to achieve a long-term, free cash flow in a market where customers often request payment terms of up to three months after product or service delivery
  • Leverage blockchain technology to empower small and medium enterprises (SMEs) to optimize their working capital for continuous innovation and avoid late invoice payments at an affordable cost
  • Deliver to factoring providers the information and tools they need to effectively mitigate the risks associated with accounts receivable financing
  • Increase trust between factoring providers and SMEs through transparency, enabling all parties to forge better relationships and streamline their receivables operation
  • Released blockchain-enabled Proxima+ Core—a web-based end-to-end Sales Finance and Supply Chain Finance platform to help factoring companies manage accounts receivable financing faster and with greater trust, aligned with global legislation and local business requirements
  • Extended Proxima+ platform for sellers and buyers of factoring services to enable them to share transaction records to Proxima+ Core via integration with Oracle Blockchain Platform, and maintain a blockchain-based audit trail as they confirm or dispute 
  • Through integration with Oracle Blockchain Platform, enabled participants to make full use of the benefits offered by the blockchain technology, such as transparent sharing of data, security of a permissioned blockchain integrated with Oracle’s identity management, durability and immutability of the transaction records, end-to-end tracking and concise reconciliation provided by smart contracts.
  • Used invoice tokenization to reduce the amount of due diligence that factoring providers must perform before financing an invoice since blockchain technology provides the transparency required to ensure that each invoice is unique
  • Eliminated the risk of double financing fraud—the situation in which a fraudulent SME successfully extracts funds from multiple factoring companies using the same invoice—since all records of a financing request are fully transparent and tamper-proof with blockchain technology
  • Reduced the need for third-party services such as notaries, contracting platforms, and credit verification services, leveraging Oracle Blockchain Platform to create and encode debt security contracts, and execute these contracts when the conditions of the contract are met—without any delays or human errors


We are the first to enable a large portfolio of receivable finance products with blockchain and IoT technologies. Using Oracle Blockchain Platform, we enable our customers to harvest the benefits of the latest technology with the backing of the market leaders.

— Nikolaos Vasilonikolidakis, CEO, Neurosoft S.A.

About Neurosoft S.A.


Athens, Greece



Annual Revenue

Under US$100 Million
Neurosoft was founded in 1994 as a local software development company. The company has since evolved into a fully integrated ICT provider with software development, system integration, and IT security capabilities, working for clients both in Greece and abroad. Headquartered in Athens, Neurosoft has subsidiaries and representation offices in Cyprus, the United Kingdom, and Dubai.

Oracle Solutions Used

Published:  Feb 26, 2019

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