Taulia and CORE Process join Source 2 Pay Summit 2020 March 19th in Stockholm and invite you to attend their round table discussions. One of the clearest aspect where there can be a disconnect between up- and downstream sourcing, procurement and finance processes are paying suppliers.
Join Sebastian Chilvers, European Sales Director at Taulia Inc. and Lars Beckman, Managing Director Partner at CORE Process on March 19th and discuss what impact different financing strategies can have on the buyer-supplier relationship as well as on actual costs.
Theme Discussion | How can end to end digitalization help reduce costs and improve free cash flow
Traditionally companies finance and treasury departments have focused on reducing cycle times and days payable outstanding. Using suppliers to finance company short term investments with increased payment terms as a result with bank run programs. Digitalization however is opening up much more productive ways of collaborating with suppliers and allocating a more sustainable cash flow. Here you will learn about how procurement and finance together are finding ways to collaborate with suppliers in ways that both reduce costs and improve free cash flow.
- What does dynamic discounting and supply chain finance mean from a procurement versus finance perspective?
- How digitized do companies need to be in order to fully benefit from supply chain financing and dynamic discounting?
- What are the main challenges companies face when deciding to optimize cash through collaboration with suppliers?
What is dynamic discounting and supply chain finance
Dynamic discounting and supply chain finance is nothing new. In fact, EBG | Network did a series of article back in 2012 (Dynamic discounting – THE bridge between finance and procurement? | Dynamic Discounting part 2 – getting it? | EBG Podcast: Interview with Taulia about dynamic discounting and common misunderstandings (we met at a busy conference hence the background noise) (do excuse some of the external links not working after 8 years)).
What has happened since?
PwC did a recent study (2019) where Supply Chain Financing was explored (together with Supply Chain Finance Community). Even if finance is still at large the main function involved – procurement is a close number two.
SCF program key success factors according to PwC study
- Close cooperation Buyer – Supplier
- External pressure for working capital optimization
Buyer-supplier and finance-procurement collaboration
EBG | Network look forward to the discussions about to take place March 19th in Stockholm. For sure procurement and finance need to sit down and discuss how to best work with the up to 70% of revenue invested externally. It cannot be prolonging payment terms and using suppliers.
Taulia is a leading provider of working capital solutions headquartered in San Francisco, California. Through a unique combination of its AI-powered platform, people and process, Taulia helps companies access the value tied up in their supply chain by transitioning from inefficient and often manual working capital management practices into technology-led, working capital optimization strategies. Taulia’s vision is to create a world where every business thrives by enabling buyers and suppliers to choose when to pay and get paid, it liberates cash across the supply chain. A network of 1.8 million businesses use Taulia’s technology and the company processes over $500 billion every year. Taulia is trusted by over 120 of the world’s largest companies with clients including Airbus, AstraZeneca, Nissan, Telstra, the UK Government’s Crown Commercial Services and Vodafone. taulia.com
About CORE Process
CORE Process is a consulting firm specializing in working capital solutions and treasury management. With headquarters out of Lund Sweden CORE Process partners with Taulia and other global leading fintech providers and together service their clients with consulting and support on the Nordic market. coreprocess.se
About Source 2 Pay Summit
Back in 2011, EBG placed an office supply supplier on stage and asked for their view on the typical buying organization. Asking for a special quote for 1/5 of what is sold, 24/7 support, free returns and a near zero cost on vital articles. Do we have to tell you they told it as it is? Did what is procured more expensive at the end or not in this case?
Using a platform to question the taken for granted, to enable great people to help grow companies through increased collaboration and to fuel discussions that almost never take place – that is why EBG do summits.
Informal yet to the point discussions that support real value outcome.