Plans by TradeCard, a cross-border payment application service that began in Asia, to deliver global financial supply chain services received a big boost this week from its new alliance with consulting firm Cap Gemini Ernst & Young (CGE&Y).
Officials from both companies claimed that their integrated financial supply chain services were geared towards helping companies save 50 to 100 basis points of so-called top-line revenue.
The financial supply chain comprises the business processes and data flows that buyers and sellers use to manage and settle their trade transactions.
TradeCard chief executive Kurt Cavano said the company's patented financial supply chain services - backed by CGE&Y's global information technology consulting practice - would help e-marketplaces, financial institutions and corporations help companies automate their business-to-business (B2B) trade transaction capabilities and establish just-in-time working capital management processes.
A recent CGE&Y benchmarking study of 150 large companies showed that automation of the financial supply chain with TradeCard's technology, along with targeted business process realignments, could save companies 50 to 100 basis points of top-line revenue.
Such savings would result from improvements to working capital, risk management and business process costs, including the labour and fees related to purchasing, invoicing, accounts receivable, accounts payable, treasury and cash management.