By leveraging Xpedize platform, one of our corporate clients digitized its cash discounting process across all its manufacturing units, ensuring timely payments to suppliers, which resulted in forging stronger ties with them.
The Client is a leader in Polyurethane (PU) Foam manufacturing, with a nationwide presence and an impeccable track record since 1971. No doubt, the company is the largest selling PU Foam manufacturer in the country.
The Client has its manufacturing units set up across multiple locations, equipped with an in-house Enterprise Resource Planning (ERP) software and had no set process for early payments to its Suppliers. This led to sporadic requests from Suppliers across the country that had to be managed manually. Due to this, the Supplier participation ratio was low, and the process was time-consuming.
Xpedize enabled the Client to digitize their cash discounting process across all their manufacturing units by integrating it into their in-house ERP system. The Client got a single platform for all early payment requests with various finance options (plugged in with relationship banks and TReDS). Xpedize started with 50 suppliers and demonstrated the benefits of the program to the Company and its Suppliers. This was later implemented for the entire Supplier base.
The Client is now able to generate a better return on their liquidity, has strengthened the relationships with its suppliers, and is reaping benefits of the various finance options available to them over a completely integrated Xpedize platform.
Apart from these benefits, Suppliers also now have the advantage of:
Xpedize understands the supply-chain finance nuances, and through our algorithm-based auction and dynamic discounting solutions, we bring efficiencies for the enterprise clients’ working capital management. For more information on our solutions, please visit the solutions page.