Financial Services Customers
Within the past few years, the industry has focused on integrating the financial supply chain with the global supply chain. By automating trade finance services such as Letters of Credit, financing and fulfillment, the flow of goods can be directly linked with the flow of funds—resulting in reduced processing times, access to lower cost payment mechanisms, and better cash flow management options.
Challenge
Global importers and exporters are demanding a wider range of services at better costs from their financial institutions. As corporations are moving away from Letters of Credit to more Open Account transactions, they want financial partners who can provide them with value-added products and services that allow them to reduce processing times and costs and give them greater flexibility in financing and payment options. Corporations also want the option of outsourcing select services to their financial institutions in addition to having greater financing, payment, and cash management tools.
Solution
TradeBeam’s Trade Finance solution provides financial services companies the ability to:
- Manage global Open Account, Documentary Collections, and Letter of Credit processes in a single system
- Provide options for pre- and post-shipment financing
- Provide options for outsourced services in supply chain and financial areas
- Provide new, on-demand supply chain applications and services
- Provide automated n-way document matching and reconciliation
- Produce integrated settlements and supply chain reports
- Provide Web-based invoice processing and dispute management
- Decrease internal operational costs
