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Global Supply Chain Finance Forum (GSCFF) observes SCF misuse increase

Tuesday 25 August 2020 12:53 CET | News

The Global Supply Chain Finance Forum (GSCFF) has released a paper in response to growing concerns regarding the use of supply chain finance (SCF) and payables finance programmes. 

The report, ‘Ensuring payables finance remains a force for good’, aims to address criticisms across three key areas: the potential adverse impact on suppliers, issues relating to financial reporting and transparency, and overall programme risk. The paper addresses topics ranging from the alleged ‘bullying’ of small and medium-sized enterprises (SMEs) to join payables finance programmes, to issues around financial disclosure, to impact of Covid-19 on the use of the technique. 

The report follows extensive work from the GSCFF on promoting strong industry standards and agreed definitions, including the release of the Standard Definitions for Techniques of Supply Chain Finance and Payables finance – how it helps global supply chains, according to the official press release.

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Keywords: Global Supply Chain Finance Forum, GSCFF, SCF, supply chain finance, payables finance, programmes, suppliers, financial reporting, transparency, SMEs, financial disclosure, COVID-19, industry standards, standard definitions, global supply chains
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech