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.

Other News

Courtesy of Financial Mail

Mon, 19 Nov 2018 07:00:08 +0200
Fin24.com | Replacing me won't change Parliament math, May tells UK Tories

Theresa May said a challenge to her leadership would be a distraction from negotiating with the European Union, and that any new prime minister would face the same issues she does.
Read More

Sun, 18 Nov 2018 21:45:05 +0200
Fin24.com | Cape Town grapples with rising homelessness as economy flags

The Safe Space is a pilot facility that provides a secure place for a growing army of destitute in a city that attracts millions of tourists to its beaches, views and Table Mountain.
Read More

Sun, 18 Nov 2018 20:45:02 +0200
Fin24.com | Oil price 'now controlled by just 3 men'

The Organisation of the Petroleum Exporting Countries has lost what control of the oil market it ever had, is the view of Julian Lee.
Read More

Sun, 18 Nov 2018 17:36:22 +0200
Fin24.com | Cape Town Central City Improvement District shows 18th clean audit in a row

The Cape Town Central City Improvement District has announced its 18th clean audit in a row.
Read More

Sun, 18 Nov 2018 16:53:58 +0200
Fin24.com | Eskom said to base executive restructuring on consultant work

Eskom is proposing executive job cuts and a reorganisation of management units in an effort to improve its financial position, according to a document seen by Bloomberg.
Read More

Sun, 18 Nov 2018 18:46:48 +0200
Fin24.com | Eskom implements loadshedding

Stage 1 rotational loadshedding has been implemented from 12:15 and is likely to continue until 22:00 on Sunday evening to preserve emergency resources, says Eskom.
Read More