Standard Chartered has partnered with US-based ERP cloud software provider Infor to improve supply chain liquidity and reduce supply risk.
Through the strategic agreement, Standard Chartered will refer clients to Infor and its Infor Nexus network, based on specific needs, enabling them to benefit from automated matching and digitised documentation and processes delivered on Infor’s network of 65,000 businesses around the world. The agreement also enables Standard Chartered to expand client relationships through digital transformation solutions that address sourcing and payables inefficiencies.
By digitising the financial supply chain, businesses are set to minimise the risk of supply chain delays and friction, while suppliers can benefit from improved access to capital. The Infor Nexus network transforms the traditionally manual process of data matching across multiple commercial documents including purchase orders, invoices and transport documents. This helps to speed up trade financing cycles, allowing suppliers to access capital faster and at more critical points in the transaction cycle, and as a result ensure on-time delivery of goods.
In addition to delivering broader financial services to clients, the Infor Nexus network provides global on-boarding and ongoing service and support to suppliers without requiring the involvement of the anchor buyer.
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