Trade Financing in Practice: Best Practices From a Top Performer [PRO]

By examining trade and receivables financing practices at one of the most advanced early adopter organizations — which has used both Xign and Taulia — Jason explains how companies seeking to build a trade financing program centered on dynamic discounting can increase adoption and results. Our case study organization is substantial in scale with recent annual revenue exceeding $15 billion. It also has a long history of investments in AP automation, starting first in the “mid 1980s” with investments in automated PO invoice approval programs. At this company, the early 2000s saw investments in Internet-based e-invoices, T&E systems linkages (e.g., Concur with credit card and receipt imaging), dynamic discounting for PO electronic invoices (through Xign), and a range of other investments. These included credit card e-payments, consignment inventory, and automated wire transfers. More recently, the company migrated from Xign to Taulia (in 2011) to extend their program to encompass dynamic discounting for all PO invoices, an Internet/cloud-based supplier portal environment, OCR for paper PO invoices, direct p-card integration into Concur, and OCR for paper / PO invoices.

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