Saturday 19th Aug 2017 - Logistics & Supply Chain

BB&T go for SC finance platform

Branch Banking and Trust (BB&T) has selected GXS Managed Services to power its integrated financial supply chain management solution. The new service from BB&T will bring a new level of business value to corporate clients through the seamless integration of three essential banking functions: international banking, commercial finance and payment services. Using GXS, BB&T can connect buyers and suppliers around the world on an integrated supply chain finance platform that will provide them with real-time visibility into invoice and payment processes and enable them to mirror activities in their physical supply chains.

Increases in global trade volumes and the continuing pressure to improve corporate cash flows has led to unnecessarily high levels of risk and cost in the supply chain. Buyers and suppliers alike need a comprehensive financial supply chain solution that parallels the physical supply chain and ensures that funding and payments are allocated appropriately and processed in a timely manner. BB&T’s integrated financial supply chain management solution will enable buyers and suppliers to finance their supply chain operations in alignment with the physical production and transportation of goods. This adds value to companies’ supply chain operations and limits unnecessary costs and risk by bringing visibility and financing to global supply chains where needed. In addition, the buyer and supplier relationship is streamlined with less guess work and fewer manual processes. GXS Trading Grid’s on-demand order lifecycle visibility service will give BB&T customers comprehensive views of their financial supply chains from purchase order delivery through invoice settlement.

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