The Royal Bank of Scotland Group (RBS) announces the availability of advanced capabilities for its electronic trade and supply chain finance solution MaxTrad.
This latest version of MaxTrad streamlines supply chain finance programs for suppliers, buyers and funding banks. The scalable workflow solution improves collaboration and implementation and provides clients with:
o A single point for managing and settling trade transactions for buyers and sellers
o Automation that enables and connects trading partners seamlessly to information for faster and better decision making
o Flexibility to tailor solutions to support clients and their business partners
Madhav Goparaju, Global Head of Trade Product Delivery & Sourcing Solutions, Global Transaction Services, RBS said: "As a result of challenging economic conditions, global trade activity is coming under greater scrutiny. CFOs are increasingly looking for ways to unlock liquidity in the supply chain. Our trade solutions and advisory expertise are aligned to meet the increasingly complex needs of companies managing domestic and international trade and supply chain finance activities. With this release, RBS further reinforces its commitment to helping customers achieve cash flow and liquidity benefits through supplier financing programs in multiple countries and currencies."
"MaxTrad's electronic on-boarding capability quickly integrates a buyer with its global network of suppliers. Supplier adoption is critical to the success of a supply chain finance program, since working capital improvements are only realised once suppliers utilise the program," adds Goparaju.
With the electronic on-boarding system using the MaxTrad Partner Enablement Program, RBS can rapidly engage with a client's network of suppliers using web-enabled technology and tools. This improves the scalability of rollouts and helps the program roll out across multiple geographies.
Other product features for MaxTrad include:
• Rapid supplier implementation can bring the advantages of the buyer's programme to suppliers faster, so that suppliers can sububmit their invoices electronically for discounted payment and begin to unlock the liquidity trapped in the order-to-cash cycle.
• Buyers can automatically invite their suppliers to participate in their supply chain finance program by uploading an invitation file. Introductory material can be included and suppliers can electronically self-register in the buyer's supply chain finance programme.
• A dynamic Discount Calculator function shows suppliers the upfront costs and net proceeds for each potential sale of invoices, providing them with greater transparency and control when considering supply chain financing options.
• The Discount Scheduler allows suppliers to pre-set purchase request submission dates anytime between invoice date and maturity in order to release cash on an as-needed basis.
• Integrated Trade and Payments - MaxTrad also integrates trade and payments to automatically schedule payments for all mature invoices that have not been financed in all major currencies, including USD, EUR and GBP. This feature makes it easier for buyers to initiate and manage a supply chain finance program and provides potential to extend business process improvements to accounts payable functions.
• MaxTrad supports multi-bank funding and enables multi-bank processing for clients with multiple funding banks used for supply chain finance credit facility requirements and local and regional product and services needs. Multiple funding banks can control their level of operational involvement in processing payments.