Infor, a global name in business cloud software specialized by industry, has partnered with DBS Bank, Southeast Asia’s largest bank, in a bid to integrate digital trade financing capabilities into the Infor Nexus global network of more than 68,000 businesses.
The two companies’ first joint programme recently went online with one of the world’s largest global apparel companies, offering faster and more cost-efficient digital trade financing to suppliers in the apparel company’s supply chain ecosystem, which mostly include small-to-medium-sized enterprises (SMEs).
“This is an important relationship for Infor, where a common vision of data-driven financing bonds us and presses us forward,” said Gary Schneider, Vice President of Sales for Infor Financial Supply Chain Management. “DBS is a digital bank, based in Asia, focused on supplier funding and liquidity. Its pursuit of digital innovation and delivering greater value to supply chains, combined with our cloud-based platform and local support team around the globe, makes for a powerful partnership at a time when liquidity is a top priority for everyone.
” Sriram Muthukrishnan, Group Head of Trade Product Management, DBS Bank, said, “We continue to accelerate the deployment of our market-leading supply chain financing and digital capabilities to ensure steady financing to SME suppliers during these times of stress. Data forms the backbone of a successful digital strategy and its impact across multiple industries globally has been growing exponentially.
Also Read: RBI gives final nod to DBS Bank merger
“Our collaboration with Infor enables greater transparency into complex supply chains and provides insights into the transaction patterns between an anchor and its ecosystem of suppliers,” he noted. “We leverage these insights to provide quicker and more cost-efficient financing to suppliers much earlier in the cycle, as compared to conventional post-shipment supplier financing programs. This is especially relevant today, as we continue to operate in an environment characterized by prolonged trade disruptions and tighter credit lines, where optimal working capital management is key to survival.”
The two companies’ next joint programme for pre-shipment finance is expected to be launched in late 2020, will utilize supply chain data as the primary conduit to assess risk and credit worthiness, as opposed to traditional models that result in the majority of suppliers being under-funded or facing challenges to access necessary capital.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
