Different industries. Different clientele. Different continents. And yet, the one thing they all have in common is that all the three, and in fact many corporates today, have supply chains that are global; their suppliers come from different countries and their distributors are based in equally differing metropolitans, towns and villages. The value of global trade is $72 billion which is almost equal to the global GDP. With so much revenue flowing across geographical boundaries, what corporates need to keep their supply chains well oiled and running is working capital. Buyers want extended credit terms and the best discounts. Suppliers need early payments. What both of them need simultaneoulsy is to optimize their cash flows.Which is what supply chain finance and trade finance provides.
Supply chain finance is bringing about greater financial inclusion across the globe by providing access to low-cost capital to the SMEs and small businesses. There is a rise in south-to-south trade, causing a shift of the trade corridors from the west to the east. Asia is witnessing the highest growth in supply chain finance at 50%. At the same time, domestic consumption is increasing, especially in the emerging economies which necessitates the development and growth of trade financing products in the local currency.
Supply chain finance solutions utilize technology to automate the best financing programs for the various stakeholders within a supply chain, speed up transaction processing and cover the entire cycle from initiation to settlement of invoices. Banks can use these solutions to provide the best financing options to suppliers and buyers to optimize their working capital. With trade finance solutions, banks can extend the benfits of a whole range of trade products like letters of credit and open accounts, making it easier for importers and exporters to trade with each other.
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