Media Hub

14
JAN

Business growth trend continues on the basis of new programs and additional features.

 

Tower Investment’s Supply Chain Finance partner GSCF is pleased to confirm that its business growth trend continues very strongly in 2012 and into 2013, based on new programs being activated and the successful introduction of innovative features into its platform.

Increasing number of programs.

Within the first eight months of 2012, five new programs have been successfully activated in GSCF’s platform, involving three different fronting banks and over 1200 buyers located in North America and Europe. At present, with buyers and suppliers under conflicting pressures to improve payment terms, reduce prices and improve cash flow efficiencies, GSCF-tailored solutions are ever more suitable, particularly given the technical knowhow required to properly manage these programs. Financial institutions are increasingly aware of this market trend and are aligning their strategies to respond to such demand with the technical assistance and expertise from GSCF.

New feature: “local currency repayment option”.

Nowadays more and more Distributors, especially those trading locally, are willing to settle their payables in local currency to minimize the impact of the exchange rate fluctuations whilst avoiding the administration related to hedging foreign currency exposure.

Foreseeing the growth of such demand on the Distribution Financing market, GSCF has developed an interface whereby banks can offer Distributors the flexibility of converting selected Supplier’s invoices into local currency based on either the spot or forward rate.

The “local currency repayment option” is an online feature accessible through the GSCF web portal and made available to Distributors and to the financing Bank of the respective Distribution Financing program.

For more info, please contact Tower Investments.

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Courtesy of Financial Mail

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