New innovations

Regardless of the positives and negatives of SCF technology, what’s certain is that the market is quickly transforming as organizations look for more agile and intuitive approaches to supply chain finance. Because of this, many different SCF innovations are coming to fruition.

What’s certain is that the market is quickly transforming as organizations look for more agile and intuitive approaches to supply chain finance. Because of this, many different innovations are coming to fruition.

For example, CREDIFAX has developed an SCF solution that brings together banks, buyers, suppliers and other possible funders on a single platform. Based on the SAP Ariba Network, it provides suppliers with an invoice financing service in their own SAP Ariba screens. The platform aims to digitize and simplify supply chain processes end-to-end, while enhancing working capital management and risk vision.

CREDIFAX’s platform equips banks with an additional invoice channel and reduces their front-end development costs. It also gives buyers the capability to control all their financing programs on a single platform. And suppliers can request discounts from different programs and banks without having to log into several banking platforms.

Unlike traditional supply chain finance services, CREDIFAX’s platform works across multiple currencies and geographic locations. So, regardless of where buyers and lenders are based across the world, it offers the same user experience for every user. Moreover, it allows banks, buyers, suppliers and any other actor to gain a 360-degree view of supplier onboarding information, payments, all the KYC (Know Your Customer) supplier requirements and other crucial data. They can also trace payments and track relevant KPIs using comprehensive dashboards.

Overall, new supply chain finance technologies offer enormous value for banks, buyers and suppliers. They can enable banks to enhance the experience of existing SCF services, buyers to improve liquidity management and partner relationships, and suppliers to simulate and request finance quickly and easily.