Transcepta, the e-invoicing procure-to-payment network, is making trade finance solutions available to its customers after striking up a partnership with Integrate Financial (InFin).
By adding InFin’s trade and supply chain finance solutions to Transcepta’s supplier network, suppliers and buyers will be brought closer together as they access the newly-available supply chain management tools.
InFin, which works closely with online procurement and payables networks, states that “its founders have been directly responsible for over US$6bn in funding to small businesses over their career in commercial finance”.
Ray Parsons, CEO of Transcepta, says: “We continually strive to enhance our products and services to best serve the needs of our customers and suppliers alike. Our trade financing solutions offer further options to streamline their transactions.”
Transcepta, which lists Facebook, Louis Vuitton, and Symantec amongst its customers, further believes that the new strategic partnership will increase participation, especially amongst small to mid-sized suppliers.
Increased participation will improve the payables process for buyers and suppliers by improving supply chain stability, increasing cash flow, while removing conflicting priorities.
With an analytics-based approach to financing decisions, InFin and Transcepta will provide the data integration, predictive analytics and service to execute on-demand finance offers to suppliers globally.
Transcepta has added the trade finance solutions to complement its existing products, which include: e-invoicing, dynamic discounting, AP automation, PO delivery, invoice validation and VAT compliance.