Open Account Management
Companies typically use Letters of Credit to reduce the risk associated with international trade transactions. However, when buyer-seller relationships are mature and trusted, many companies find the costs and constraints associated with Letters of Credit burdensome. As an alternative, companies are increasingly looking to Open Account payment methods to support international trade transactions. This trend has created significant opportunities for buyers, sellers, and financial institutions to free up working capital, take costs out of the supply chain, and offer innovative trade finance services to new markets.
TradeBeam provides network-based, easily deployable Open Account solutions that address the needs of complex international trade transactions.
Expanded Features
Comprehensive Trade Finance Portal
TradeBeam solutions enable physical and financial supply chain collaboration and visibility among buyers, sellers and financial institutions.
Automated Trade Finance Workflow
TradeBeam solutions provide an automated workflow and collaborative platform, enabling trading partners to present invoices, provide approval and resolve disputes. The solutions eliminate time-consuming manual application, approval, and paper-based payment processes.
Procurement and Finance Document Management
TradeBeam solutions support any transaction type through simple configuration. Transaction types include invoices, purchase orders, and custom documents required by trading communities. Documents are also versioned to create an audit trail.
Exception Management
TradeBeam solutions facilitate exception-based management via automated event-based alerts.
Document Generation
TradeBeam solutions generate documents required for regulatory, shipment and finance processes. Documents are generated based on business rules.
Reconciliation of Trade Finance Data
TradeBeam solutions reconcile data between any documents in a trade transaction to avoid disputes. The system supports reconciliation at both the header and line item levels.
Trade Finance Request Management
TradeBeam solutions provide a platform for making pre-shipment and post-shipment financing requests.
