Leverage Supply Chain Finance Technology to Create Disruption

In today’s age, if you do not adapt or disrupt, you are left in the dust by the competitor who is nipping at your heels. Look back at some of the larger companies who were at the top of their game and became complacent or reluctant to accept technological change…Sears and Toys R Us disrupted were by online shopping giants like Amazon; taxi cabs were disrupted by rideshare companies like Uber and Lyft; Blockbuster was disrupted by online streaming companies, Netflix and Hulu. Technology creates disruption in a nanosecond; and if management is not continually reviewing and implementing technological advances, their operational efficiency is diminished and may result in obsolescence. According to the 2017 Deloitte Global Human Capital Trends, only 12% of Fortune 500 companies present in 1955 are still in business today. What happened? Change via technology happened, and this created disruption!

Technology applies to every business. Companies can continually look at ways to increase their operational efficiency by leveraging technology. Supply Chain Finance is an area technology is disrupting right now and is simplifying the accounts payable process, resulting in a win-win solution for both buyers and suppliers. Implementing an effective supply chain finance program can simultaneously meet the cash flow needs of the buyer (extend the payables cycle) and suppliers (shorten the receivable cycle).

Determined to provide an easy technological solution, FSW Trade Finance (“FTF”) created the QuickPay program, which satisfies both parties’ cash flow needs. Buyers utilizing FTF’s QuickPay increase accounts payable operational efficiency, increase supplier satisfaction and reduces the cost of capital.

Proactive companies that leverage technology to embrace change will be the disruptors and leaders in their respective industries or geographical area. Supply chain finance adoption will allow a company to become stronger and more competitive. Contact Robyn Barrett today to see how easy it is to implement a QuickPay program with your company!

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