(12 January 2017 – Australia) Octet Finance has announced that it is adding a receivables finance option to its existing supply chain financing platform.
In a media release, the firm said the new receivables finance proposition “incorporates both confidential and disclosed receivables finance solutions – giving businesses access to receivables, trade and asset backed finance through a single platform.”
According to the release, The Octet Platform, allows businesses to transact, negotiate and pay suppliers around the world. By incorporating a receivables financing option, the cloud-based platform will let business pool together a variety of accounts including debtor, trade finance credit, bank accounts and credit card as well as access real-time foreign exchange rates and settle expenses efficiently.
Business advisors can finally guide their clients to access a full digital wallet, enabling them to access unsecured finance when the business needs to purchase goods ahead of time, or invoice-backed finance to bridge cash flow and ensure they can pay suppliers quickly and efficiently.
To enable a strong backing in the market, Octet stated that they have recruited personnel with experience from a variety of major receivable financiers such as St. George Bank, Scottish Pacific Business Finance and Bibby.