GEC NEWS WIREInfor, a global vendor in industry cloud software, announced that RTS International is financing more than $1 billion in global trade annually through the Infor Nexus supply chain platform. RTS International specialises in pre- and post-export financing models for apparel and footwear businesses in Africa and Middle East, amongst others.
RTS International has provided financing through Infor Nexus since 2010, serving more than 100 buyer communities. The digital platform automates trade documents and processes between a buyer, its suppliers and RTS International to enable visibility, transparency and touchless approvals and settlements that benefit all three parties. The Infor Nexus global services team helps ensure that suppliers are swiftly onboarded.
Infor Nexus’ electronic document management and digitisation tools automate approval processes and increase days of available funding, allowing finance of shorter-term maturities that are not possible in a traditional paper environment. Visibility into live transactions, historical performance data, receivable flows, order balances and upcoming ship-date volumes enables RTS International to provide financing to suppliers in emerging regions, leveraging the credit strength of their buyers. Smaller suppliers, which typically would not qualify, obtain access to funding within days of a completed order, at competitive rates.
RTS International can provide suppliers with credit evaluation services to help assess the financial stability of the buyer and avert disruptions in the flow of cash. Infor Nexus leverages data to help suppliers auto-create fulfillment documents to drive compliance and mitigate discrepancies, penalties and chargebacks, fostering a healthier financing environment. The process allows the supplier to concentrate on developing sales instead of having to manage multiple processes to get paid.
Once the seller ships its products, it finalises its fulfillment documents on the Infor Nexus network. The documents are compared to the terms on the purchase order, and a payment decision is made by the buyer, often while the goods are still at origin. It takes two to three days after turning over the goods to the freight forwarder, to release export proceeds.
By eliminating paper from global trade processes and workflows, buyers, suppliers and finance providers such as RTS International can improve documentary compliance and leverage a multi-enterprise infrastructure to enable new opportunities for collaboration and services. RTS International was an early adopter of digital trade financing technology and has leveraged it as a catalyst for business growth.
“Plugging into Infor Nexus’s digital platform has enabled us to become a strategic partner to our customers, while enabling us to increase revenue and reduce risk and costs,” said Luis Mondragon, Vice President, RTS International.
Key takeaways
Strategy
- Infor Nexus’ digital platform automates trade between buyer, suppliers and RTS International to enable approvals and settlements.
Execution
- Infor Nexus global services helps ensure suppliers are swiftly onboarded.
- Infor Nexus leverages data to help suppliers auto-create fulfillment to drive compliance and mitigate discrepancies.
Cash
- RTS International is financing $+1 billion in global trade annually through Infor Nexus supply chain platform.
- RTS International provides financing through Infor Nexus serving more than 100 buyer communities.
- RTS International can provide suppliers with credit evaluation services to help assess buyer.
- The process allows supplier to concentrate on developing sales instead of having to manage multiple processes to get paid.
