.png){kind=logo}
We are thrilled to announce our latest partnership with MFR, a leading rating agency in renewable energy and inclusive finance, which manages the PAYGo PERFORM Monitor, a portfolio quality and financial performance monitoring tool for PAYGo solar companies and investors.
MFR and Bridgin collaboration aims to improve and scale the PAYGo PERFORM Monitor by automating its reporting process, significantly enhancing the quality and efficiency of data collection for PAYGo solar companies.
What is “PAYGo Perform Monitor”?
The PAYGo PERFORM Monitor (PPM) provides investors and donors access to individual companies’ performance and aggregate benchmarks, to shed light on industry benchmarks and trends, and support the investment process. The KPIs used are the PAYGo PERFORM KPIs, evolving with the needs and preferences of companies and investors.
Being part of the PAYGo PERFORM Monitor is free for companies. By sharing building block data, companies receive their KPIs calculated according to the PAYGo PERFORM Monitor international standards. Companies can compare their performance and trends with aggregate benchmarks of industry peers, including by geography and size. The data is not publicly available, and a company can’t see other companies’ individual data (only aggregate).
Companies can choose to disclose their data to one or more investors subscribing to the PAYGo PERFORM Monitor, to increase their visibility for funding opportunities and simplify their reporting duties to investors. The periodic webinars, analysis and calls reserved to participating companies also offer an opportunity for peer learning and sharing on different matters (e.g provisioning for credit losses, revenue recognition, and any other topic of interest for companies).
The PPM is a joint-initiative between MFR and GOGLA, the global association for the off-grid solar industry.
Opportunity for easier reporting
PAYGo PERFORM Monitor is an essential tool for investors and companies alike. It is acknowledged, though, that submitting data for this initiative can be labour-intensive for companies, since it requires manual extraction and entry of information. Automating in part the PAYGo PERFORM Monitor reporting would lower the reporting efforts of companies and increase the quality and volume of data, producing higher value to all participants.
Bridgin’s Approach
MFR and Bridgin are heavily data-driven organisations that place the quality of data at the centre of their value proposition and believe standardisation is key for efficiency and growth of the sector. Recognising the efficiency opportunity, we started building a collaboration on the extraction of CRM data to compute performance metrics visualised in the PPM. This collaboration was driven by the capacity of Bridgin to directly solve one of the key pain points mentioned above: reporting.
Bridgin’s capacity to fast-track reporting for the PPM rests on three pillars:
Direct CRM integration: Bridgin is interoperable with commercial Paygo CRMs, and can be integrated with in-house ones. Data can be extracted directly via API.
Standardised data: Bridgin has experience developing infrastructures and frameworks to categorise and convert data inputs automatically extracted from multiple CRMs into a standardised format
Fast onboarding: As can be seen in this onboarding demo video, it takes companies less than 5 minutes to onboard the platform and give Bridgin access to their operational data.
“Our partnership with MFR embodies a shared commitment to driving investment efficiency through smart leverage of data . By automating the reporting process, we are not only streamlining operations for PAYGo solar companies, but also enhancing transparency and scalability within the sector. This collaboration marks a significant step toward making data-driven insights more accessible within the industry.”
Manon Dubois, Fintech Business Lead at Bridgin
MFR <> Bridgin Pilot: Streamlining Data for Efficiency and Impact
The collaboration between Bridgin and MFR is focused on the development of an automated data retrieval tool that leverages Bridgin’s technology to alleviate the burden of manual reporting. Basically, the tool developed allows companies to authorise MFR to retrieve portfolio quality data for the calculation of PAYGo PERFORM KPIs from Bridgin, saving the company reporting time. This improvement is meant to benefit:
Companies, who now need to allocate less time to reporting efforts. This is particularly beneficial to local companies, who often have smaller teams and less resources to dedicate to the initiative.
Investors users of the PAYGo PERFORM Monitor, who can now access metrics 1) updated more consistently and 2) whose data integrity is guaranteed, since it is directly sourced from CRMs, rather than manually reported with a potential for error.
MFR, as the data manager of the initiative, who needs to allocate less time to data collection, and can focus on enriching the tool with new participants, metrics, and benchmarks instead
The industry as a whole will benefit from harmonised reporting and benchmarks, computed based on consistent data
Our program has already seen successful implementation, with Bridgin’s tool reducing reporting efforts significantly while improving the accuracy of the data submitted. This solution has been tested and validated through a pilot phase, which demonstrated its ability to deliver reliable, consistent data to MFR, ensuring companies can focus more on operations and less on cumbersome reporting tasks.
Companies who report to the PAYGo PERFORM Monitor through Bridgin will not have to manually fill documents to transmit their operational data to MFR. This reporting will be made on their behalf by Bridgin. No further action will be required on their end on the side of portfolio quality data, unless MFR wants to engage in a discussion to understand qualitative drivers behind certain quantitative numbers.
"Retrieving data through Bridgin proved to be very efficient to get complete, accurate and timely data to produce the PAYGo PERFORM KPIs and make them available to companies and investors."
Lucia Spaggiari, Innovation director, MFR
Scaling the partnership
Past this successful pilot phase, we are happy to announce that we are taking the collaboration to the next level, offering free-of charge PAYGo PERFORM Monitor / Bridgin access to an additional number of companies:
Companies part of the PAYGo PERFORM Monitor who still report data manually are welcome to require the automation of their reporting
Companies which are not yet part of the PAYGo PERFORM Monitor but are interested in joining the initiative with lightweight efforts thanks to the Bridgin reporting tool will also be recruited
We expect the initiative to attract additional investors, thanks to the improvement of the quality and quantity of data available through the PAYGo PERFORM Monitor - which can be of even better use for investment purposes.
Companies interested in learning more about the initiative, understanding how Bridgin facilitates their data reporting, or joining the PAYGo PERFORM Monitor, can reach out to manon.dubois@solarisoffgrid.com or l.spaggiari@mf-rating.com
Investors willing to learn more about the PAYGo PERFORM Monitor or subscribe to access company and industry performance data should reach out to l.spaggiari@mf-rating.com
About Bridgin
Bridgin is Solaris Offgrid's Receivable Financing Solution. Conceived as an online trading platform for accounts receivables, it allows distributors of essential services to unlock liquidity over assets through the sale of their outstanding invoices to investors, offering investors a unique chance to tap into a previously untapped asset class at a lower risk.
Comments