Home / Knowledge / News / Information Technology / GT Nexus tool delivers suppliers low cost capital access
GT Nexus tool delivers suppliers low cost capital access
10
Jun '15
GT Nexus and trade finance solutions provider SeaburyTFX announced today a new funding program that leverages big data on the GT Nexus platform to deliver suppliers access to low cost capital.

The program opens the flow of capital into the supply chain to reduce costs and risk by basing funding decisions on the trading partners’ performance history, instead of the buyer’s or supplier’s credit.

“The announcement was made at Bridges 2015, the premier cloud supply chain industry event, which was held June 8-11 in Florida,” a GT Nexus press release informed.

GT Nexus provides a legal framework and compliance engine for B2B commerce that helps ensure clean and compliant transactions on more than $100 billion in global business annually.

“The high performance rate of the overall GT Nexus network of transactions makes it an attractive portfolio for securitisation in the financial markets,” said Robert Lin, president of SeaburyTFX.

“Unlike traditional programmes working with individual banks or providers on a transactional basis, funding of this program is secured by a pool of transactions on the platform,” Lin added.

“The transparency, standardisation, comprehensiveness and reliability of GT Nexus’ big data are critical to ensuring liquidity, and thus enabling healthier and more efficient supply chain finance,” he observed.

Buyers and suppliers in this program are able to remove from the supply chain capital-related barriers that can cause delays or impact customer service.

“This type of program reduces both cost and risk in our supply chain while improving overall performance,” said Harry Gaffney, CFO of Charles Komar & Sons.

“Our suppliers can access funding to run their business when they need it most, at key times within the transaction lifecycle, even as early as the order stage,” Gaffney too added.

“Access to liquidity at crucial points assures the flow of supply goes un-disrupted and improves our customer performance,” he noted.

Funding is provided off-balance sheet, so suppliers can obtain cash at the same rate and terms for any qualified buyer on the GT Nexus platform.

“We can now get the funding we need earlier in the transaction lifecycle and we no longer have to wait for an approved invoice,” said Adam Sutton, president of Highland Belts & Fine Leather.

“Cash flow visibility and payment certainty allow to map out growth and we can move forward with certainty, knowing that we will have the funds to buy materials and fill new orders,” he too noted.

According to GT nexus, traditional supply chain finance programs look at a company’s profitability, cost of goods, sales figures and growth projections for the region.

“Collecting and interpreting data can take weeks, given lack of standards in both documentation and pricing methodologies,” it explained. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search