(27 July 2020 – Singapore) Infor has joined forces with DBS to integrate the Infor Nexus global network of businesses with new digital trade financing capabilities.
One of the first customers to take up the new offering is one of the world’s largest global apparel companies. The partnership with Infor, a leading business cloud software provider, allows faster and more cost-efficient digital trade financing to suppliers in the apparel company’s supply chain ecosystem, which mainly consists of small-and-medium-sized enterprises (SMEs).
“Our collaboration with Infor enables greater transparency into complex supply chains and provides insights into the transaction patterns between an anchor and its ecosystem of suppliers,” said DBS Group Head of Trade Product Management Sriram Muthukrishnan.
“We leverage these insights to provide quicker and more cost-efficient financing to suppliers much earlier in the cycle, as compared to conventional post-shipment supplier financing programs. This is especially relevant today, as we continue to operate in an environment characterised by prolonged trade disruptions and tighter credit lines, where optimal working capital management is key to survival,” he added.
DBS and Infor are also working on another new programme for pre-shipment finance, which is expected to launch later this year. The programme will use extensive supply chain data, including historic and real-time milestone information on the physical movement of goods, provided by Infor to assess risk and credit worthiness of suppliers.
According to the latest research by East and Partners, there is a marked increase in the number of corporates reviewing their funding requirements and solutions available in the most recent six months as they look to diversify and realign their supply chains in response to the coronavirus pandemic.