World’s Best Supply Chain Finance Providers – Or so They Say! David Gustin - February 10, 2015 1:50 AM | Categories: Trade Credit Commentary | Tags: Global Finance, Supply Chain Finance Global Finance names Worlds Best Supply Chain Finance Providers – Really? When somebody says World’s Best, I stop and take notice. LeBron James is arguably the best basketball player on the planet. His performance can be evaluated almost daily and is transparent to all. But some of the providers on this list left me wondering, just how in the heck does Global Finance name the World’s Best. I mean some of the vendors on that list are either start-ups, are still relatively small, or are having major challenges with their business model. So I asked Denise Bedell, Managing Editor, Global Finance (GF), to explain the awards process. For the recent Supply Chain awards, GF received approximately 50 entries for all 18 categories. GF states while it encourage entries, it is not necessary to enter in order to win. According to Denise, the evaluation process has the following basic model: Each set of awards has a subject matter expert. The expert gathers market research, interviews market participants including corporates on the supply chain finance side and banks. We also go out to research firms like Demica and PwC and speak to consultants there to get their perspectives. Vendors also provide information on themselves. We also do a readers poll, and go out to 30,000 active readers of GF and find out who they are using and have them rate by country, by category who they see as the best providers. We find useful but take this with a grain of salt given not everyone is active in every market. We also have a weighted algorithm we use, which is the key thing in terms of our awards. We take all those different elements, and have our subject matter expert score each potential winner and provide us with a short list for each category. From there, our internal editorial panel reviews and makes final decisions. We try and look at things we have metrics on but there are elements that are less rigorous." When asked if providers have paid GF money to participate, Denise responded, "We have one set of awards that they have to pay to enter –our digital banking awards, but SCF is not paid to entry." No doubt vendors will use this confirmation that their model is flying high and on to great success. I personally found several of the awards rather interesting (and dubious) and will explore a few in some follow up posts. After all, when we say “World’s Best” that’s a pretty big label considering 18 categories and 50 submissions. p.s. to receive a summary of Trade Financing Matters in your inbox Monday morning, sign up here Related Articles Erosion of Receivables a growing problem for Asset Based Lenders Supply Chain Finance Application Market Still Small Voices (2) Dan Juliano: 10.02.2015 at 5:01 pm um research firms like Demica?? Doesn’t that invalidate a bit the award because the last time I checked they are provider? I wonder how their research rates the competition or the services they provide. Imagine an award for the best ERP system where part of the research is from SAP. Reply Dan Juliano: 10.02.2015 at 5:00 pm um research firms like Demica?? Doesn’t that invalidate a bit the award because last time I checked they are provider? I wonder how their research rates the competition or the services they provide. Imagine an award for the best ERP system where part of the research is from SAP. They can ask PrimeRevenue for our research it is not biased at all 🙂 Reply Discuss this: Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Notify me of new posts by email.