MUMBAI: IBSFINtech, a TreasuryTech solutions provider, has expanded its product portfolio with the launch of VNDZY, an integrated supply chain finance SaaS solution.
IBSFINtech is a treasury, risk, and trade finance management company that offers digitised solutions for end-to-end automation of cash flow, liquidity, treasury, risk, and trade finance services for corporations. VNDZY, a SaaS platform powered by AI, creates a connected environment for enterprises, suppliers, and financial institutions, resulting in a technology-backed solution.
Onboarding various vendors, assessing vendor trustworthiness, managing different banks, manual payment processes, and connecting ERP and financial institutions are all issues that corporations face. Suppliers, on the other hand, face manual communication and repeated follow-ups in order to get their funds released, with no insight into payment dates and invoices sent out manually. This exacerbates the difficulty of preserving liquidity to secure the business’s long-term viability, as well as limiting scalability options.
Vendor Management Made Easy, or VNDZY, tackles these supply chain ecosystem difficulties and provides a mutually advantageous platform for all parties. For businesses, it allows for centralised monitoring of vendor payments, allowing them to better manage their working capital while also improving the financial health of their suppliers. It assists CFOs and treasurers in adding value to the company.
Suppliers benefit from the platform as well, with perks such as reduced payment clearance times, which aids in financial discipline. Suppliers also receive discounts, and VNDZY allows for direct talks with corporations.
“Supply chain finance is a cumbersome process, and pandemic has accelerated the need for technology adoption to augment the SCF ecosystem,” IBSFINtech CEO and MD CM Grover said in a statement. Automating the function has always been part of our strategic vision, thanks to our understanding and cross-industry experience with corporate treasury and trade finance digitisation.
With the newest in technology, we’re constantly improving our proven product portfolio in treasury, risk, and trade finance management. The launch of several products catering to the main corporate finance function as well as peripheral sectors will see our portfolio expand this year.”
IBSFINtech’s solution unifies several separate teams inside the organisation, links vendors, brings financial institutions on board, unifies them all on one platform, and guarantees that the entire supply chain process is fully digitised. To assist the end-to-end digitalisation of the SCF ecosystem, the company expects to offer more products in the area, catering to dealer financing and PO finance.