TradeCard, the provider of on-demand financial supply chain services, has announced that Calyon will be the first financial institution to sell the TradeCard Platform and provide customer service to customers across Europe.
Calyon will also leverage its global network to sell both the TradeCard platform and Calyon’s financial services to its exporter customer community in other regions of the world.
The TradeCard platform enables Calyon’s corporate customers to automate the financial processes in their supply chains from order to cash. Buyers connect to their global trading partners online to manage ordering, invoicing, and other trade processes. This cuts down on the use of paper and brings transparency and visibility into every process from order through settlement. Accounts payable and accounts receivable processes can be fully automated and financial services can be delivered electronically and automatically. Customers benefit from lower costs, simplified strategic purchasing across borders, improved risk and working capital management and major business process efficiencies.
Emmanuel Bouvier D’Yvoire, global head of trade finance, Calyon, says: “We saw very clearly what is happening in the market. Some of our customers need to trade faster, they are under pressure to manage their cash at maximum efficiency, and to achieve this all parties in a trade need to be in sync. As our customers’ banking partner, we needed to address this.”
He adds: “We chose TradeCard because it is the undisputed market leader with a proven technology and critical mass around the world. Our customers will benefit greatly from years of experience and an established customer base. TradeCard will allow us to differentiate our financial services offerings and to optimise our own processes.”
Launched in 2000, TradeCard today serves over 1,000 corporate customers in 34 countries.