The new platform, BBVA Global Supply Chain Finance, offers a unique digital experience thanks to its simple and intuitive navigation. Some of the characteristics that make it stand out the most include the single access point, which allows for a centralized view of all of the companies’ programs and suppliers in all locations and currencies at the same time; a secure connection, integrated with the client’s ERP and adapted to their business processes; and internal control thanks to the total tracking of invoices and payments. This solution is now available for BBVA clients in Europe, the U.S., Mexico and Peru, and it will also be available in Colombia in 2021.
BBVA has more than 20 years of experience in this business and is enhancing its offering through a cloud-based web solution with a unique user experience. The buyer controls all of their programs in different countries and currencies form a single access point. Meanwhile, the supplier has access to a wide range of tools that allow them to receive advance payment of their invoices, simulate their future payment flows, plan their cash flow and have real-time management control.
One of the biggest competitive advantages of offering centralized supply chain finance is that it allows BBVA to reach the entire base of suppliers with no limits on the number or amount of invoices – from the most strategic to those with smaller purchase volumes. In addition, the new platform has an agile and straight forward onboarding process, with specific support teams that allow providers to join the programs online, encouraging their participation.
BBVA is strategically leveraging its extensive expertise in cash management services, offering the best options in terms of connectivity, types of formats and files. In order to offer the best service, the supply chain finance offering for corporate clients is complemented by specialized product teams around the world as well as experts in providing advice on working capital. The bank was recognized by the publication Global Finance as the best provider of supply chain finance in Western Europe in 2019 and the best provider of supply chain finance in Latin America in 2020.
