DBS And Infor Nexus Collaborate To Enhance SME Cashflows The partnership between DBS Bank and Infor Nexus was primarily focused on availing early payments to the suppliers on a post-shipment basis
By Teena Jose
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Infor Nexus and DBS Bank collaborated to enhance pre-shipment financing for small and medium-sized enterprises (SME) suppliers in the Infor Nexus supply chain ecosystem, the companies announced on Friday.
In order to bolster pre-shipment financing, this trade financing solution will utilise historical data from the Infor Nexus platform to provide data-based lending solutions which will further help suppliers meet their working capital requirements.
The partnership between DBS Bank and Infor Nexus was primarily focused on availing early payments to the suppliers on a post-shipment basis. The latest trade financing solution completes the entire pre-shipment and post-shipment financing cycle, establishing a robust end-to-end digital working capital financing solution.
"The innovative e2e working capital finance offering will not only address the manufacturer's cash flow needs to produce goods (per PO) but also enable them to collect export proceeds in a timely and cost-effective manner through a trusted partner – Infor Nexus," said Divyesh Dalal, MD and Head, Global Transaction Services, DBS Bank India.
With an aim to boost businesses with a robust end-to-end digital working capital financing solution, the bank will use supply chain data like historical and real-time milestone information on the physical movement of goods from the supply chain platform, Infor Nexus.
"The trade financing solution has been extended to SMEs in India, primarily in the apparel, footwear and textile industries, which are major growth sectors for the economy. As part of the Infor Nexus ecosystem, DBS Bank will underwrite the trade financing facility applications of prospective SME suppliers," the companies said in a joint release.
DBS claimed to have increased physical touchpoints for SMEs with around 530 branches spread across 350 locations in India.
"This new offering demonstrates how data can transform supply chain finance. The pre-to-post shipment financing will enable Infor Nexus to provide a complete and integrated solution to improve supply chain efficiency and suppliers' cash flow. By partnering with DBS, Southeast Asia's largest bank, we will bring a dependable and efficient source of capital to our customers, extending the range of attractive supplier financing options, such as purchase order financing, invoice invoicing and sustainable supply chain financing, to deliver added value to more suppliers on our platform," said Gary Schneider, VP Financial Services, Infor Nexus™.
