With this solution, BASF and its partners will benefit from accessible risk mitigation and working capital flows, automated processes including reconciliation, settlement, forecasting and monitoring, and lower transaction costs to enable reduced transaction pricing. Several BASF’s suppliers in China have already been onboarded, and the solution is already in operation.
The supply chain finance programme drives a situation where BASF China can increase the efficiency of its cash flow turnover and strengthen its relationships with suppliers, and where Deutsche Bank can put into effect its solutions in supply chain finance.
BASF Group is a chemical company and has been a partner to China since 1885. Today, BASF’s business in China spans an array of chemical products, and China is the company’s third largest market after Germany and the US.
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