- Taulia and Customary Chartered signed a Memorandum of Understanding to collaborate on working capital finance options.
- The partnership will initially concentrate on provide chain finance and dynamic discounting.
- The settlement will provide Taulia entry to Customary Chartered’s international shopper base.
Provide chain finance firm Taulia has inked an settlement with Customary Chartered this week. The settlement comes within the type of a Memorandum of Understanding (MoU) to collaborate throughout a variety of working capital finance options.
The 2 will start by specializing in provide chain finance and dynamic discounting, two options that Taulia presents to consumers. Taulia will use its experience on this space, mixed with Customary Chartered’s international shopper base, to assist shoppers construct a extra resilient and sustainable provide chain.
In the end, the partnership goals to allow suppliers to entry working capital in a extra environment friendly and value efficient method.
“We’re excited to work with Taulia to discover new and progressive methods to help our shoppers’ working capital wants, in addition to extending the Financial institution’s main sustainable commerce experience into their enterprise community,” mentioned Customary Chartered World Head of Commerce & Working Capital Kai Fehr. “Taulia’s footprint additionally enhances that of the Financial institution, providing larger alternatives for us to help firms within the West with their provide chain flows into Asia, Africa and the Center East.”
Taulia was based in 2009 to assist companies enhance their provide chains by offering financing choices with versatile fee phrases. Utilized by a community of two million organizations, the corporate’s instruments assist companies speed up funds and unlock working capital. Taulia processes over $500 billion yearly. Amongst Taulia’s shoppers are Airbus, AstraZeneca, Nissan and Vodafone.
Taulia was acquired by SAP earlier this 12 months and immediately’s settlement marks the primary MoU that Taulia has signed with a banking establishment post-acquisition. Taulia anticipates that having the backing of SAP will assist it entry additional alternatives throughout SAP’s ecosystem and ship a differentiated expertise for each consumers and suppliers.
“We imagine that every one CFOs ought to concentrate on their money technique to make sure progress throughout these turbulent occasions and our partnership with Customary Chartered will ship money when and the place it’s wanted, particularly in rising markets,” mentioned SAP Head of Working Capital Administration CoE and member of the Taulia Management Crew Thomas Mehlkopf.
Photograph by Tiger Lily