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Standard Chartered and Infor Partner to Improve Supply Chain Liquidity and Reduce Supply Risk, Business News

Strategic agreement to introduce Infor Nexus network to the bank’s
clients to digitize the financial supply chain

 

BEIJING, CHINA 
 Media OutReach
 
 2 March 2020 – 
Standard Chartered
, a leading international banking group, and Infor
, a global leader in business cloud software specialised by
industry, today announced a strategic agreement to introduce the Infor Nexus
network to the bank’s clients. By digitizing the financial supply
chain, businesses can minimize supply chain delays and friction,
while suppliers can benefit from improved access to capital.

 

Scoring high on ability to execute and completeness of vision,
Infor Nexus has been positioned in the leaders’ quadrant of Gartner’s “Magic Quadrant for
Multienterprise Supply Chain Business Networks” report
. “Collecting data and sensing signals in real time, and then
coordinating, executing and resolving issues quickly, will allow
companies to operate their supply chains more effectively,” Gartner
said in the report. The Infor Nexus network transforms the
traditionally manual process of data matching across multiple
commercial documents including purchase orders, invoices and
transport documents. This helps to speed up trade financing cycles,
allowing suppliers to access capital faster and at more critical
points in the transaction cycle, and as a result ensure on-time
delivery of goods.

 

“As our client’s trusted banking partner, our goal is to support
them in their digitalization journey through expediting their
payables acceptance and facilitating export proceeds, and as a
result improve their working capital cycles. We are excited to have
this introduction agreement in place with Infor, whose platform
offering not only fits well with our emerging markets footprint,
which generates significant trade documents flows, but also shares
a similar commitment in supporting the development of sustainable,
intelligent supply chains,” said Michael Sugirin, global head of
open account trade product management at Standard Chartered.

 

Through the strategic agreement, Standard Chartered will refer
clients to Infor and its Infor Nexus network, based on specific
needs, enabling them to benefit from automated matching and
digitized documentation and processes delivered on Infor’s network
of 65,000 businesses around the world. In addition to delivering
broader financial services to clients, the Infor Nexus
 network provides global on-boarding and ongoing service and
support to suppliers without requiring the involvement of the
anchor buyer. The agreement also enables Standard Chartered to
expand client relationships through digital transformation
solutions that address sourcing and payables inefficiencies while
enabling innovation and growth.

 

Currently, Infor Nexus
has more than 65,000 companies connected to its network, oversees
a total of US$50 billion in global payments, and sees US$1 trillion
in trade managed on the platform.

 

“Invoice approvals in a traditional nonautomated environment often
take weeks to complete, putting a squeeze on suppliers and bringing
contention to the buyer-supplier relationship,” said Cas Brentjens,
vice president, Sales, Infor Nexus Asia Pacific. “Slow invoice
matching delays the trade financing cycle, preventing suppliers
from obtaining capital they need to deliver quality and compliant
goods on time.”

 

Media Contact:

Infor

Phyllis Tan

[email protected]

About Infor

Infor is a global leader in business cloud software specialized by
industry. With 17,300 employees and over 68,000 customers in more
than 170 countries, Infor software is designed for progress. To
learn more, please visit www.infor.com
.

 

Infor customers include:

  • 19 of the top 20 aerospace companies
  • 9 of the top 10 high tech companies
  • 18 of the 25 largest U.S. healthcare delivery networks
  • 18 of the 20 largest U.S. cities
  • 19 of the top 20 automotive suppliers
  • 17 of the top 20 industrial distributors
  • 15 of the top 20 global retailers
  • 4 of the top 5 brewers
  • 17 of the top 20 global banks
  • 9 of the 10 largest global hotel brands
  • 8 of the top 10 global luxury brands

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