In a move to provide service to increasingly global supply chains, electronic-invoicing vendor Transcepta announced on Wednesday (Aug. 6) that it has expanded into cross-border trade finance solutions. The company, which offers cloud-based Accounts Payable automation, is partnering with Integrate Financial (InFin), a trade and supply-chain finance vendor based in San Diego.
Transcepta now offers InFin’s supply-chain finance solutions through its network that connects suppliers with its customers for invoicing and payments automation, the Aliso Viejo, Cal., company said in a statement.
Transcepta’s network will handle the paperless invoicing. InFin, whose customers are usually Global 2000 companies, provides financing to thousands of small and mid-size suppliers that sell to large buyers.
The result should offer participants significantly improved cash flow, the company said, adding that increased participation by small and mid-sized suppliers will improve the payables process for both suppliers and buyers by removing conflicting priorities and improving supply-chain stability. Transcepta said customers can also benefit with lowered costs through optional dynamic discounting models.
The combined solution will offer an analytics-based approach to financing decisions. InFin and Transcepta will provide the data integration, predictive analytics for executing on-demand finance offers to suppliers around the globe. “Our trade financing solutions offer further options to streamline their transactions,” Transcepta CEO Ray Parsons said.
