Recently a worldwide leader in business cloud software specialized by industry, Infor has partnered with DBS Bank, one of SEA’s largest banks to further integrate digitization of financing services for more than 68,000 businesses. 

As the initial joint program became available across the globe, digital trade financing made the process cost-efficient, transparent and further accelerated. 

VP of Sales for Infor Financial Supply Chain Management, Gary Schneider, said that the partnership is crucial for them as it further supports the common vision of data-driven financing bonds between the two entities moving forward.

“The pursuit of digital innovation and delivering greater value to supply chains, combined with our cloud-based platform and local support team across the countries made the collaborative partnership a time of liquidity as a priority for everyone.” added Gary.

In addition, the financial rates are for supply chain finance rates are 10 times lower than traditional factoring facilities where USD$1.3tn has been utilized. Nonetheless, majority of the current industry now have been developing into the future technology by adapting towards the digital software and technological system.

Supply Chain Is Evolving

Ever since digital transformation was introduced years back, we have been witnessing an accelerating growth for the market-leading supply chain industry and digital capabilities.

Sriram Muthukrishnan, the Group Head of Trade Product Management at DBS Bank further explained that by accelerating the deployment of market-leading supply chain financing and digital capabilities, it ensures a steady financial ecosystem for small-and-medium enterprises especially during times of stress and need. 

“Data forms the backbone of a successful digital strategy and its impact across multiple industries globally has been growing exponentially.” Sriram emphasised.

This has leveraged the insights to provide prolonged trade disruptions and tighter credit lines where optimal working capital management is the key to survival. 

Reality of Time

As a matter of fact, the majority of suppliers are being under-funded and face challenges to access necessary capital, henceforth; Infor provides extensive supply chain data that includes real-time milestone information to ancient records on the physical movement of goods and it enables data-driven representation of a supplier’s performance and credit risks.

Reports have shown that there are numerous benefits for buyers and importers where a healthy balance sheet can be obtained through supply chain finance. In fact, it further improves the existing relationship between digital corporate sectors to traditional key-players. From purchasing in bulk to save costs, one can easily track data from one end to another on a single platform. 

“In the next three years, the competitive frontier in corporate lending and supply chain finance will be the creation of innovative credit risk models that banks will use to leverage corporate supply chain process data.” (The Supply Chain Bank, 2018) From physical supply chain of source-to-pay, order-to-cash to generate a comprehensive and realistic representation of a company, banks will be able to capture and analyze the whole events in the new transformation.

Infor and DBS further discuss the new ways of financial industries for small-and-medium enterprises on a recent webinar that you can tune in here.

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About the author

Nurul Zamrè

Senior Content Writer

Nurul Zamrè is an ardent writer for the past 15 years of her living tenure on science & technology, agriculture, health, communities, management and more. She is also a News Anchor at RTM, a general manager of AHVN, a model, VO artist, emcee, gymnast, ballerina and a lover of everything chocolates.