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RTS is financing more than $1 bn through Infor Nexus

Apr '19
Pic: Infor Nexus
Pic: Infor Nexus
Infor, a global leader in business cloud software specialised by industry, has announced that RTS International is financing more than $1 billion in global trade annually through Infor Nexus supply chain platform. RTS specialises in pre and post-export financing models for apparel and foorwear businesses in Africa, US, Asia, Eastern Europe and the Middle East.

RTS International has provided financing through Infor Nexus since 2010, serving more than 100 buyer communities. The Infor Nexus digital platform automates trade documents and processes between a buyer, its suppliers and RTS International to enable visibility, transparency and touchless approvals and settlements that benefit all three parties, said a media statement by RTS. The Infor Nexus global services team helps ensure that suppliers are swiftly on boarded. RTS International can provide suppliers with credit evaluation services to help assess the financial stability of the buyer and avert disruptions in the flow of cash.

“Plugging into Infor Nexus’s digital platform has enabled us to become a strategic partner to our customers, while enabling us to increase revenue and reduce risk and costs,” said Luis Mondragon, vice president, RTS International. “We can leverage a supplier’s transactional and milestone data to deliver unique and creative financing. Capital is provided based upon the credit of the buyer, not the supplier’s balance sheet, without assuming new debt. Infor Nexus’s electronic document management and digitisation tools automate approval processes and increase days of available funding, allowing us to finance shorter-term maturities that are not possible in a traditional paper environment.”

Visibility into live transactions, historical performance data, receivable flows, order balances and upcoming ship-date volumes enables RTS International to provide financing to suppliers in emerging regions, leveraging the credit strength of their buyers. Smaller suppliers, which typically would not qualify, obtain access to funding within days of a completed order, at competitive rates.

Orient Craft Ltd, which supplies ready-made garments and home furnishings to retailers in the US and the UK, is using Infor Nexus to manage multiple customers, factories, and access to capital on a single network.

“We recently started a relationship with RTS International to factor invoices from our customers, such as Zara and Abercrombie & Fitch,” said Anoop Dhanda, the company’s finance director. “RTS International mitigates the risk of cash-flow disruptions, provides us with immediate liquidity and helps us better utilize our banking limits.”

Infor Nexus leverages data to help suppliers auto-create fulfillment documents to drive compliance and mitigate discrepancies, penalties and chargebacks, fostering a healthier financing environment. The process allows the supplier to concentrate on developing sales instead of having to manage multiple processes to get paid. Once Orient Craft ships its products, it finalises its fulfillment documents on the Infor Nexus network. The documents are compared to the terms on the purchase order, and a payment decision is made by the buyer, often while the goods are still at origin. “It takes two to three days maximum, after turning over the goods to the freight forwarder, to release export proceeds,” said Dhanda.

“By eliminating paper from global trade processes and workflows, buyers, suppliers and finance providers such as RTS International can improve documentary compliance and leverage a multi-enterprise infrastructure to enable new opportunities for collaboration and services,” said Rod Johnson, EVP of manufacturing and supply chain at Infor. “Customers on our network benefit from a single platform delivering multiple forms of credit risk products, such as payment assurance and factoring; or trade finance solutions for pre-shipment, receivables, payables and inventory financing. RTS International was an early adopter of digital trade financing technology and has leveraged it as a catalyst for business growth.” (PC)

Fibre2Fashion News Desk – India

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