Partnership to Develop Supply Chain Financing Solution in ASEAN and Greater China

This is particularly true in Southeast Asia and China where economic growth is particularly dynamic and future competitiveness can no longer exclusively be based on lower costs. The use of digital technologies to streamline supply chain financing is therefore an important topic not only for companies of all sizes but also for governments in the region.
a year ago

MIDDLETON, Wis. — November 2, 2017

Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, today launches an innovative supply chain financing solution in Asia in partnership with Jing King Tech Group (JK Tech), a Fintech company whose business includes payment solutions, transaction security and services for the banking sector. Announced in Singapore in the presence of Singapore’s Senior Minister of State, the joint venture will connect Esker’s e-invoicing platform to a group of banking partners including UOB, Singapore’s second largest bank.

Efficient supply chain financing is increasingly becoming a key factor of competitiveness for modern economies, and therefore, a fundamental driver for growth and development. This is particularly true in Southeast Asia and China where economic growth is particularly dynamic and future competitiveness can no longer exclusively be based on lower costs. The use of digital technologies to streamline supply chain financing is therefore an important topic not only for companies of all sizes but also for governments in the region.

To meet these challenges, Esker has aligned with its existing partner JK Tech on a Fintech initiative. The two companies will market NEMO™, a 100 percent cloud-based supply chain finance solution that connects Esker’s comprehensive order-to-cash and purchase-to-pay automation solutions to a group of banking and funding partners in China and Southeast Asia. The growing list of partners will include banking institutions and alternative financing platforms. NEMO has received support from the Singapore government which is deeply involved in helping organization embrace digital technologies to enhance productivity and competitiveness.

Thanks to NEMO, companies will be able to finance their accounts receivable, and better control cash flow with their suppliers, while giving them access to a flexible and secure source of financing (reverse factoring principle). These processes, today cumbersome and expensive to implement, will be automated and carried out online through NEMO. Using NEMO, the supplier of a company will, for example, be able to request the advance payment of one or more of its invoices within the portal.

Source: Esker

Illustration Photo: Containers ship at the Port of Singapore (credits: bianca polak / Flickr Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0))

Comments

No comments to display.

Related posts

EU Call for Proposals: Multi-use of the marine space, offshore and near-shore: pilot demonstrators

Activities shall develop pilots by involving industrial actors and by integrating the available knowledge, technologies and facilities, in particular capitalising on the results of EU and national projects for the development of multi-use platforms or co-location of different activities in a marine space, and relevant support offshore vessels and autonomous vehicles.
Application Deadline in 2 days
16 hours ago

EU Call for Proposals: The Future of Seas and Oceans Flagship Initiative

Proposals shall address one of the following sub-topics: blue cloud services, or ocean observations and forecasting, or technologies for observations (in 2020). Actions shall demonstrate integration, capacity and (scientific, economic etc) potential.
Application Deadline in 2 days
17 hours ago

EU's Call for Proposals: Modelling international trade in agri-food products

Trade modelling has a long-standing tradition but some issues are notoriously difficult to assess and include in the existing simulation models.
Application Deadline in 2 days

EU Call for Proposals: Circular bio-based business models for rural communities

Based on an established agro-food system, proposals shall consider a variety of additional bio-based processes and end products that could be integrated into the system, and that are viable on a small scale (farm to rural community level).
Application Deadline in 2 days
17 hours ago

The Infant Formula Testing Market is expected grow at a CAGR of 6.9% to reach revenue of $20.26billion by 2023.

Infant formula is one of the emerging markets in food and beverage industry. It is basically used for the infants whose age is below 12 months (preferably).

UNICEF Innovation Fund's Call for Applications: Data science, machine learning, artificial intelligence or similar technology solutions

The UNICEF Innovation Fund is looking to make up to 100K equity-free investments to provide early stage (seed) finance to for-profit technology start-ups that have the potential to benefit humanity. If you’ve got a start-up registered in one of UNICEF’s programme countries and have a working, open source prototype (or you are willing to make it open-source) showing promising results, the UNICEF Innovation Fund is looking for you.
Application Deadline in a month

Etisalat Digital accelerates adoption of Artificial Intelligence and Blockchain in the United Arab Emirates

Etisalat Digital selects four disruptive companies to join Future Now scaleup programme after Dubai Future Accelerators collaboration.

European Venture Investment Reaches All-Time High

Europe's venture capital investment eclipsed €20 billion for the first time ever, according to PitchBook's 4Q 2018 European Venture Report. Despite the 25.9% drop in deal volume year-over-year (YoY), swelling deal sizes and increased interest from nontraditional investors helped drive deal value to the high-water mark.

The African Union Ten Years Aquaculture Action Plan for Africa 2016 - 2025

The prospects for Africa’s aquaculture are enormous. They are defned by the continent’s vast aquatic resources, land mass and climate that are suitable for the production of an array fsh species and essential inputs such as ingredients for feed. Of added advantage, is the fact that most of the world’s important tropical and sub-tropical aquaculture species are native to Africa.

Singapore-based SEEDS Capital appoints seven partners to co-invest in agrifood tech startups

SEEDS Capital, the investment arm of Enterprise Singapore, has appointed seven co-investment partners under Startup SG Equity. This will catalyse more than S$90 million worth of investments to develop Singapore-based startups in the Agrifood tech sector. This was announced by Senior Minister of State for Trade and Industry, Dr Koh Poh Koon, at the opening of Indoor Ag-Con Asia.