Supply Chain Financing
Supply chain financing is a favorable option for many companies trying to simplify the payment process between a buyer and a supplier. It can significantly reduce supply chain bottlenecks and enable the optimization of working capital. However, companies often face paperwork buildup and potential miscommunication, which can be one of the more tedious downsides of supply chain financing.
At SK Global Software, we have built a formidable solution to fix those types of problems in supply chain finance. Our Supply Chain Financing Module functions within Microsoft Dynamics 365 Finance and Operations to provide your organization an accessible platform for invoice processing and communication between vendors, suppliers, and SCF partners.
- Flexible payment options – set up directly with your supplier or your SCF partner
- Direct invoice uploading, which can be directly accessed by SCF partners
- Real-time notifications of invoice progress
- Intelligent highlighting of errors or unresolved issues
- Automatic reconciliation of supplier’s invoice once invoicing due date arrives
- Generation of invoice payables to SCF partners
- Equipped to handle any number of settlement options
Convenient Approval and Payment Process
In our Supply Chain Financing module, you have the option to either directly pay your supplier within a 60-day financing period or set them up with a SCF partner of your choosing in the system. Conveniently, you can upload invoices directly into the module, which can be viewed by your SCF partner. They then have the ability to directly approve within the module, allowing for an efficient approval process.
Conveniently, our module automatically generates an invoice payable to your Supply Chain Financing partner once the invoicing due date arrives. This invoice will be handled through SK Global’s AP EFT payment process. Your SCF partner can then automatically reconcile your supplier’s original invoice directly within our module.
The SCF partner and the vendor also have the flexibility to work within our module where they can resolve financing terms and handle their own invoice processing. The Supply Chain Financing module offers both stability and ease of mind to all parties involved, allowing them to work smarter together through our automatic uploading and approval process capabilities.
Seamless Communication and Real-Time Notifications
Real-time notifications will notify the necessary parties involved of the invoices’ progress, creating ease of communication across your network. SCF providers receive automatic notifications of new invoices while the buyer and vendor will be sent acknowledgements for when the SCF partner uploads an invoice. When errors or unresolved issues do occur, your team will be notified so that you can adeptly solve the issue.
Expansive Settlement Library
Our module handles a variety of settlements including due date-based settlements, file-based settlements derived from electronic invoices sent by the provider, and settlements without moving the payable on the due date. If your company uses an alternative form of settlement, work with our consultants who will provide top-notch expertise on how to integrate your form of settlement into our module.
If you are interested in learning more about our Supply Chain Financing module, you can schedule a demonstration with us. SK Global’s Supply Chain Financing software is a key strength of our Treasury Automation Suite for Microsoft Dynamics 365 Finance and Operations.