Trade and logistics portal GT Nexus on Wednesday announced the launch of GT Nexus Trade, an integrated set of on-demand trade and financial services.
The services give companies, their trading partners and their banks a single, industry-neutral platform to automate their global "procure-to-pay" processes. The new capabilities support a range of supply chain finance strategies aimed at lowering costs and improving working capital efficiency across the supply chain.
The programs include:
-- Pre-shipment financing or vendor financing, made possible through clear vendor performance data and real-time visibility to purchase orders, resulting in better access to cash for the vendor and lower costs to the buyer.
-- Inventory financing or buyer financing, made possible by better visibility of in-transit inventory to support asset-based lending programs.
-- Post-shipment financing, including factoring or early payment discount programs that enable better cash flow to vendors and in-exchange discounts or extended terms to the buyer.
GT Nexus said it has more than 40,000 registered users from over 15,000 organizations.