Argentine companies are going through a very complex present, product of an economy that still does not show vital signs of recovery and a consumption that shows the worst records of recent years.According to the Argentine Confederation of Medium-sized Enterprises (CAME), although there was a slowdown in the industry's decline, the level of activity accumulates a decrease of 8% so far in 2019 and installed capacity is 58% ."The production of industrial SMEs fell 6.5% in May compared to the same month last year and 3.7% when compared to April," says the entity, which also notes that almost 6 out of 10 companies did not increase its profitability To these discouraging data is added another that increases the concern: sales in supermarkets fell 12.6% last month, while in shopping the collapse was 23%.The Executive knows that if it wants to have more chances to win the elections has to, yes or yes, have controlled the dollar, reduce inflation from current levels and show that it maintains control of the agenda, with initiatives that improve the bad mood Social.Credits at lower rates, payment plans for debtors of AFIP, freezing of rates until the end of the year, essential prices and mechanisms that facilitate the work of individuals and companies are part of its menu of proposals that, by the way, will be expanded according to the polls are coming.In this framework, the Government is in the process of moving forward with digital payment instruments and financing mechanisms that provide some oxygen to the firms.The "e-check" or electronic checkBy order of the Central Bank, all banks must allow their customers to issue digital checks as of July 1. In the same way, they will also have to accept them when receiving deposits or paying by the window.The objective of this measure is to replace traditional checks, in order to facilitate payment transactions. The process will not be abrupt but gradual, with which both versions will coexist for a while.The Central Bank clarified that the so-called "e-check" (electronic checks) will be used for deferred payments, will have the character of executive title and will not be subject to restrictions on the number of endorsements, something that does occur with physicists (one for common and two for deferred)."Nowadays, any error in the endorsement causes it to be rejected and many times it ends up winning, so we have to go out and look for the one who freed it so that it can be reissued, which delays the time an enormity", explains iProUP , Ezequiel Passarelli, Tax Director of SCI Group.For Gustavo Daniel Fornari, of Liveware, the electronic check is expected to work in the same way as the traditional format, its use being optional at the beginning. Shortly you will see the first versions, although there are still issues to be solved, such as the payment by bank window, "says the expert."It is expected that it will operate as a transfer modality, with the addition of deferral in its maturity and deposit, plus the transactional possibility of endorsement or discount, also by digital means," he adds.Digital promissory noteTo the fall of consumption and difficulty of the companies to keep their working capital at acceptable levels, adds another fact that is a true reflection of the crisis: the alarming escalation of rejected checks: according to the consulting firm Ficonomics, the total of rebounds grew almost 70% and reached a figure only comparable to that of the 2001 crisis.Given this scenario, the Argentine Securities Market (MAV) launched its digital promissory note system, which is accessed through the FinanciaClick platform, created together with the Rosario Term Market (Rofex) and the Clearing Chamber Argentina Clearing.As explained to iProUP Fernando Luciani, CEO of the MAV, medium and small companies need in the traditional scheme "an account with a stockbroker and they must make a heavy file, show stacks of papers and notarial performances." But, with this new instrument and in a few minutes, they can do it directly from the PC or the phone. "By having the online documentation, you can choose with which system participant to share that data and request credits directly from the Internet. "It also selects the terms, currencies and amounts, the agent validates it and sends it to a Reciprocal Guarantee Company to guarantee it, all this is interconnected with the MAV's trading systems," he explains.In terms of benefits, the most important thing is what it means in terms of cost savings, in addition to simplifying processes. "The commission is very low and the main thing is the discount rate, much lower than the market," says Luciani.The Reciprocal Guarantee Society (SGR) Garantizar recently endorsed the first digital promissory note in Argentina. This instrument offers medium-term financing (up to 36 months) in local currency or dollars."Any SME, regardless of where they are, can use it, since the entire process is 100% digital, which also entails a substantial reduction in the costs associated with the issue," says Darío Wasserman, president of Garantizar, to iProUP.According to Fornari, of Liveware, it is "a private initiative to streamline the financing processes under the legal form of the promissory note, since it is absolutely digital, it offers a noticeable reduction of time when requesting financing and enables obtaining better credit conditions" .Electronic billFrom April 1st the obligatory nature of using electronic invoice for all the categories of Monotributo governs, according to the norm established by the AFIP.What is sought is to streamline operations, avoid printing and distribution costs, allow the user to customize their vouchers and register all the invoices in real time in the bases of the organization.For Luciani, the MAV is a central change in the relationship between SMEs and large companies. "It obliges all invoices to have a certain date of payment, 15 or 30 days after issuance, it automatically becomes a security, just like a check." From there, the SME can sell it without relying on the payer ", explains the expert."This process was very complex before, which is why this measure is very important, I think it is the law of this Government that is most beneficial for SMEs, because it helps them to finance themselves with either an invoice or a check," he emphasizes."All that credit that could not be easily sold before became financial, it is a lot of money, it impacts the balance sheets of large companies as well as the processes of formation and payment, and negotiation agents and markets are key in this." completeFor his part, Horacio Laurens, operations manager of Compañía Hasar, says: "The free choice between the fiscal controller and the electronic invoice changes the rules of the game and invites us to propose innovative solutions.""The electronic invoice is ideal from the fiscal point of view for the intercrossing of transactions of sale and control of VAT From an entrepreneurial point of view, it generates an important reduction of costs, both of printing and of physical sending of receipts, added to other variants that facilitate their processing and electronic loading ", complements Fornari.Currently, it is feasible to issue from the AFIP website and the application. Firms with large billing volumes can integrate their systems with the agency.In addition, it has become a well-known financing instrument for SMEs: the digital credit bill. That is, a voucher that can be discounted more easily and agility in the financial market online."One of its benefits is the ease of locating the documentation, and it also saves paper and ink," says Mariano Rizzi, product manager at colppy.com, which specializes in accounting systems.Key in time of crisisBoth the promissory note and the e-check aim to streamline operations, lower costs and improve financing conditions. "Given that the reduction of rates and inflation will be a medium-term issue, these instruments can provide an important value to maintain the chain of payments," says Fornari, of Liveware.According to the executive, "there are no major differences in the use of physical checks". It emphasizes that the requirement of the signature "will be satisfied if any electronic method is used that ensures the externalization of the will of the drawer and the integrity of the instrument, the reliability of the operation and its authentication"."The legitimate holder may collect each electronic check from the date of payment by means of a digital accreditation order or through a window," says Fornari, who lists the advantages of this instrument:- Safety in electronic handling (reduces risk of theft and loss)- Formal errors and rejections are avoided- Deposit without physical presence- Use of electronic signature, among others.Although it is not yet mandatory, there are already several banks that implemented the deposit of checks from their app, "which represents an improvement and a higher level of controls," says Sebastián Stranieri, CEO of VU Security."From verifying if the document is real and its originator who it claims to be, until the complete traceability, they allow the issuer, receiver, processor and collection agent to have visibility and simplify a report about its loss", he adds.Alejandro Muszak, CEO and founder of Wenance, says: "The digitalization of the system has a favorable impact on the business because it provides agility, speed in processes and allows costs to be optimized"."Undoubtedly, they contribute to inclusion, in addition, companies improve their standards and achieve greater access to financial options that result in more productive and profitable business models," concludes the CEO of Mercado Argentino de Valores.