Tag Archives: GT Nexus

GT Nexus Aids in Economically Beneficial Supply Chain Finance Program

While researching for our upcoming report on the current state of global electronic invoicing, images-2PayStream has found that eInvoicing adoption initiatives are growing throughout the world. We also found that one reason many countries are becoming more interested in B2B networks is the easy access to supply chain financing options they provide. In response to this demand, solution providers are enhancing their offerings to accommodate supply chain health, and companies of all sizes are benefitting from more financing options

In an innovative initiative of their own, IFC, a member of the World Bank Group, and Levi Strauss & Co (LS&Co). recently announced their plans to provide financial incentives for garment suppliers in developing countries. The ultimate purpose of their Global Trade Supplier Finance program is to upgrade environmental, health and safety, and labor standards. Estimates by the International Labor Organization (ILO) say that the textile, clothing and footwear industry employs close to 60 million people around the world, many of them young women. The Global Trade Supplier Finance program aims to benefit this sector and aid in poverty reduction among these workers.

images-3Here at PayStream, we’re always happy to hear of companies using their skills to promote and enable sustainability and equality in business activity. However, this news is even more welcome because the involvement of one of our partners, GT Nexus, in the program. IFC and LS&Co. launched this initiative with GT Nexus for the advantages’ their cloud-based business network and platform has for global trade and supply chain management. GT Nexus’ platform enables participants to operate across multiple supply chain functions, and it optimizes the flow of goods, funds, and trade information. Together, the three companies hope to encourage better business practices by providing incentives for these practices, and by making them easier for businesses to accomplish. GT Nexus global experience with diverse B2B regulations, including in Latin America, will be very useful towards this goal.

According to IFC and LS&Co, the Global Trade Supplier Finance program will adopt a tiered pricing of short-term financing for garment suppliers, with lower costs for those borrowers that score strong performance ratings under Levi Strauss & Co.’s environmental and social monitoring system-the Terms of Engagement (TOE). This system measures labor, health and safety, and environmental performance. The program will also offer these vendors lower cost rates on working capital financing. The higher the vendor’s TOE score, the more they will save.

PayStream believes that GT Nexus’ superior functionality and global focus will greatly help the success of this program. We look forward to seeing the good these companies will do together through technology, innovation, and optimism.

For more information on the current state of B2B technology around the world, look out for our upcoming 2014 Global eInvoicing report.

 

 

 

Acquisition of TradeCard Establishes GT Nexus’ as Global Leader

GT Nexus acquisition of TradeCard last year was a game changing move in the Supply Chain Finance ecosystem. The companies were leaders and pioneers in their respective industries and combined, now present a best-of-class cloud-based technology platform that links companies together in vast commerce network. The world’s largest enterprises rely on GT Nexus’s advanced business collaboration to better manage physical and financial supply chain processes on a global scale with thousands of trading partners.

PayStream has monitored this transition closely over the past year. The true benefits of combining GT Nexus capabilities with TradeCard have begun to show; they are now the world’s largest cloud commerce network with over 25,000 clients managing over $100 billion in goods globally. Verticals include nearly every industry from consumer goods and manufacturing to pharmaceuticals and logistics. GT Nexus reports that the best supply chains synchronize the movement of goods, funds and information seamlessly. Their solution does exactly that, from order issuance to shipment to payment, GT Nexus enables users to improve working capital, reduce risk and cost of goods and increase visibility and agility between trading partners. By leveraging early payment programs, pre- and post-export financing, payment protection, and local expertise, users achieve greater returns on cash, enhanced supply chain working capital, and improved order fulfillment and payment protection which yields a lower cost of goods and favorable financing rates.

PayStream Advisors will continue to monitor this industry leader and are excited to see what they have in store in the future for the supply chain finance market.