Featured Vendors (1 - 4 of 8)
The increasing number of multinational buyers and a wide range of suppliers have led to the accumulation of funds that are trapped in the supply chain finance cycle. Corporations and banks constantly face the challenge of efficiently releasing these funds. Addressing this challenge, Surecomp started developing supply chain finance solutions from 2008, based on their already existing trade finance products. The company’s products enable banks to offer more opportunity to corporate clients and offer enterprises the scope to collect more working capital. With its years of experience of providing innovative solutions to banks and corporations worldwide, Surecomp understands the need for an organization to succeed in this ever-changing international trade arena.
Designed in a multi-tier architecture, Surecomp’s products are available on varied platforms including mainframe, UNIX, Java, and Windows. “We are agile developers, and if the client demands any change in our product, we will quite quickly change it and work on it again and again until we can offer what the customer exactly wants,” says Adrian Smith, Business Analyst, Surecomp. These solutions have the capability to anticipate the constantly changing industry requirements and work accordingly.
The company’s supply chain finance product, SCF-Pro, is aimed directly at the open account industry. The supply chain finance solution streamlines the transaction lifecycle to minimize costs and maximize profits.
SCF-PRO can be easily integrated with existing back-and front-office environments encompassing all main SCF players and is categorized into various modules based on the target group
SCF-PRO can be easily integrated with existing back- and front-office environments encompassing all main SCF players, and is categorized into various modules based on the target group. The most popular module is the Approved Payable Module that has been developed for the buyers. It serves as a funding base for a contract between the buyer and the seller—the buyer approves the invoices they want to pay for and based on that approval the bank release funds to the supplier. A different module was created for the suppliers via which they were able to offer their buyers a longer payment term. SCF-PRO has also received the SWIFT Certification Application status for the fourth consecutive year.
One of Surecomp’s clients adapted the Approved Payable Module to convert invoice details available in excel into usable data. The client dealt with a low volume of invoices which were of high value and required customization to precisely meet customer needs. Moreover, instead of EDI, the client received emails with an excel attachment from their customers. To overcome this situation Surecomp adapted the Approved Payable Module to allow easy input of the excel contents.
Established in 1987, innovation has been a hallmark at Surecomp for 30 years and maintaining that trait, the company has incorporated Buyer Payment Obligation (BPO) in their system. “We keep up with what the market is focused on and this is what we think drives our development,” adds Adrian. Surecomp further aims to work on robust syntax to enhance its solutions’ utility and user-friendliness. Adrian informs that blockchain is another initiative in the company’s roadmap that will significantly buttress its ability to serve its clients.