DigiPay4Growth Sardinia

Sardex, a commercial credit clearing exchange organising small businesses and service providers on the Island of Sardinia. Sardex is dedicated to strengthen the Sardinian economy and to reconnect people by enabling the creation of interest-free local liquidity based on the production capacity of local businesses.

Tackling youth unemployment

Sardex has joint the DigiPay4Growth consortium to do something about (youth) unemployment in Sardinia. The Regional Authority of Sardinia (RAS) is a vital partner in the project. RAS offers spare capacity through the Sardex network and (will) pay suppliers by using the Social Trade invoice based backing, similar to reverse factoring. In doing this RAS chooses to spend invoices through the local network, speeding up the payment process, giving impulses to local SME’s and supporting SME ability to contribute to increased local business activity and employment.

In addition to this, through the use of Cyclos in their electronic invoice system, RAS will receive information in order to improve economic policy by gaining access to more and better data about local economic activities.

Results this far:

  • Final model agreed on by RAS and Sardex
  • Legal preparations for final check financial authorities
  • Brokering to include more horizontal and vertical spending options for when RAS implements reverse factoring.
  • RAS has started spending spare capacity through the Sardex system
  • Conference with announcement of RAS that the system will have official launch in 2016.
  • Technical tests for Cyclos 4.4 and configuration special context specific needs of Sardex.