Deutsche Bank has launched SupplierFinance, a DB financial supply chain solution, which is a fully automated online trade payable financing solution that combines superior trade and cash management capabilities, in Sri Lanka.
As part of Deutsche Bank’s suite of global transaction banking solutions, SupplierFinance is the first joint electronic solution offered by its cash management and trade finance businesses. The service allows clients to better manage electronic payments to suppliers through eBills, the bank’s innovative and secure business-to-business (B2B) electronic platform, the bank said.
With SupplierFinance, corporates in Sri Lanka can offer their suppliers access to financing at attractive rates.
The service enables corporates in Sri Lanka to implement payment terms that match their underlying cash flows, which allows for more efficient management of their working capital requirements. As all payments through SupplierFinance are transmitted electronically, it also provides suppliers with online access to discount receivables. Ultimately, this enables suppliers with the capability to actively manage their cash flows and monitor their receivables, the statement said.
Thushy David, head of Deutsche Bank’s trade finance and cash management corporates, Sri Lanka, comments: “Deutsche Bank’s SupplierFinance is an innovative solution that significantly enhances corporates’ financial supply chain efficiency and ability to provide local suppliers with access to financing at attractive rates.”
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