Why You Need Big Data to Make Supply Chain Finance Actually Work
Supply chain finance holds a lot of promise for freeing up working capital, helping suppliers stay healthy, and being lucrative to financial institutions. But until now, neither, buyers, suppliers, nor banks have benefitted from the full power of supply chain finance. That’s because “supply chain finance” has historically been limited to one application: financing approved invoices. While this is certainly useful, it occurs only at the end of the transaction lifecycle. And suppliers could benefit from capital at far earlier stages. Financing at earlier points requires knowing precisely when crucial supply chain milestones take place, in real-time. Now, thanks to the power of supply chain networks and big data, that’s finally happening.