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

Fri, 22 Mar 2019 13:35:48 +0200
Fin24.com | Find your load shedding schedule

Find your load shedding schedule for Johannesburg, Durban, Cape Town, Nelson Mandela Bay and Polokwane.
Read More

Fri, 22 Mar 2019 20:56:27 +0200
Fin24.com | Stage 2 load shedding confirmed for Saturday

Eskom to implement Stage 2 load shedding on Saturday, due to shortage of capacity.
Read More

Fri, 22 Mar 2019 18:44:37 +0200
Fin24.com | Ramaphosa: Allegations of sabotage at power stations being investigated

President Cyril Ramaphosa has said efforts are being made to address the electricity crisis, ahead of the elections.
Read More

Fri, 22 Mar 2019 19:28:02 +0200
Fin24.com | The week that was: Fin24's top 5 stories

From the news of Eskom planning for stage 5 and 6 load shedding, the much talked about load shedding updates to the design defects at Medupi power station, here is the week that was...
Read More

Fri, 22 Mar 2019 15:45:40 +0200
Fin24.com | SARS 'hopeful' union will accept offer in bid to avert strike

South African Revenue Service spokesperson Sandile Memela said the tax body remained committed to "resolving the impasse" with the National Education Health and Allied Workers Union (Nehawu) who have threatened to down tools within days.
Read More

Fri, 22 Mar 2019 14:16:52 +0200
Fin24.com | Hawks say they are waiting 'anxiously' for access to PwC report into Steinhoff

The 3000-page forensic probe into accounting fraud was given to Steinhoff leadership by PwC earlier in the month.
Read More