Infor, a provider of cloud software specialized by industry, today announced that it is partnering with DBS Bank, Southeast Asia’s largest bank, to integrate digital trade financing capabilities into the Infor Nexus global network. The two companies’ joint program recently went live with a large global apparel company, providing fast and more cost-efficient digital trade financing to suppliers in the apparel company’s supply chain ecosystem.
“This is an important relationship for Infor, where a common vision of data-driven financing bonds us and presses us forward,” said Gary Schneider, Vice President of Sales for Infor Financial Supply Chain Management. “DBS is a digital bank, based in Asia, focused on supplier funding and liquidity. Its pursuit of digital innovation and delivering greater value to supply chains, combined with our cloud-based platform and local support team around the globe, makes for a powerful partnership at a time when liquidity is a top priority for everyone.”
“We continue to accelerate the deployment of our market-leading supply chain financing and digital capabilities to ensure steady financing to SME suppliers during these times of stress. Data forms the backbone of a successful digital strategy and its impact across multiple industries globally has been growing exponentially,” said Sriram Muthukrishnan, Group Head of Trade Product Management, DBS Bank.
“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. 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.”
The two companies’ next joint program for pre-shipment finance, expected to launch in late 2020, will utilize supply chain data as the primary conduit to assess risk and credit worthiness. Infor provides extensive supply chain data, including historic and real-time milestone information on the physical movement of goods, to enable a data-driven representation of a supplier’s performance and credit risk.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world. DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
Infor is a global leader in business cloud software specialized by industry. With 17,300 employees and over 68,000 customers in more than 170 countries, Infor software is designed for progress. Infor customers include: the top 20 aerospace companies, 9 of the top 10 high tech companies, 14 of the 25 largest U.S. healthcare delivery networks, 19 of the 20 largest U.S. cities, 18 of the top 20 automotive suppliers, and 17 of the top 20 global banks.
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