Combat with Features Fine-Tuned to Deliver the Best
Trade finance, a traditionally document intensive business involving heavy manual intervention, combined with the intricacies in international trade practices, is one of the most complex businesses to automate. At the same time, the business model of trade finance itself is undergoing a major transformation with open accounts being more popular than LCs. Banks need to bridge this gap, by offering innovative solutions that combine trade finance and supply chain finance and adopt a holistic approach towards the entire trade finance cycle.
iGTB’s Supply Chain Finance and Trade Finance solutions have been designed with features that specifically address the pain areas of the banks as well as its customers.
Challenges Faced by the Bank & How iGTB Addresses Them
Unable to increase return on equity (ROE): Originate to distribute functionalities to increase returns
Cost to income ratio is high: Paperless processing of transactions driving low transaction costs and less manual work
Certain revenues streams are flat or declining: Software allows solutioning across domestic, procurement, sales, import and export products to increase revenues
Intense regulatory pressure and scrutiny: Regulatory reporting and risk analytics brings transparency to the portfolio
Lack of transparency in P2P and O2C processes: Real-time email, SMS, alerts and notifications to buyers and suppliers
Fragile risk environment on account of slowing economies: Risk mitigation through assignment, risk economies participation and insurance
Gaps have also been identified on the corporate's side. Buyers and suppliers across the supply chain are grappling with issues that pose a hindrance in their trade activities, some of which may even bring their business to a halt.
Challenges Faced by the Corporates & How iGTB Addresses Them:
Difficult to manage and optimize working capital across the entire supply chain: DSO and DPO management solutions to optimize working capital
Manual processing of invoices, payments and orders creating intensive paperwork: Fully automated financing of invoices and automated settlement upon payment
Manual or semi-automated data archival and retrieval leading to error and delay: Client analytics giving full visibility across the supply chain
Need for electronic communication and online update: Transformational unified customer experience on channels like computers, tablets and smart phones.
High procurement costs: Providing access to capital at the right cost to medium and small suppliers lowers procurement costs
Declining sales and challenges to enter into new markets: Ability to offer extended payments terms to buyers or offer early payment to suppliers to gain access to market inroads.
RUN THE BANK. CHANGE THE BANK. DESIGN THE BANK.
iGTB is your platform to power your way to principal banker position.Designed for complexity reduction between banks and corporate customer operations, our technology assures enhanced operational productivity, while you deliver addictive customer experience.With 7 of the top 10 global transaction banks running on our solutions we are the authority progressive banks rely on to realize their GTB ambitions.
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