Supply chain finance is like a football game

"Football is a game of two halves", as legendary English footballer Jimmy Greaves is reported to have said.

And quite often, teams play quite differently in one half as compared to the other (for our American friends, we are talking "soccer" here).

And supply chain finance is similar to football, at least when you are the corporate at the heart of the story and the one whose supply chain is going to benefit from early payments.

There's the first half.

• This is the period when suppliers hand over their goods or deliver their services, invoices are issued, ERPs get updated, financial controls operate and invoices get approved for payment.

At half time:

• The action moves from internal activities to generate invoice approvals to external activities involving financiers, platforms and suppliers.

And there's the second half.

• This is when the game really gets going and the financiers step in so that suppliers can get paid without waiting for the full term of the invoice.

Who is turning up for the first half?

Here's the point.

Most corporates (if not almost all) are playing the first half by themselves.

And this is where the supply chain finance industry is not delivering what it should.

Corporate ERPs and financial controls are not designed to generate invoice approvals quickly. Typically the ERP does not even know about the invoice until after goods are delivered.

And this means that invoice approvals take time to happen.

This means the first half is way too long and a lot of the value of early payments to suppliers has been lost.

PrimaTrade plays the whole game

PrimaTrade's platform enables companies to:

• Approve invoices for early payment quickly and automatically

• Generate approvals at shipment and before data reaches the ERP

• Maximise the value of early payments for suppliers

Unlike the legacy supply chain finance industry - we turn up for the first half.

And the good news ...

You can add PrimaTrade's solution to your existing supply chain finance (SCF) programs without significant effort.

That's because you are playing by yourselves throughout the first half - and we (at PrimaTrade) can turn up and help to get that part of the supply chain finance game sorted out.

You can add us easily to existing SCF programs.

And then you keep the second half of the game running as it does today - but simply now working better than before.

Supply chain finance as a football game?

Play through the whole game with us, make early payments truly early and automate your early payment approvals.

Get in touch with us now to find out more. Click here to send an email or here to book a call.