Taulia Collabs With Standard Chartered to Foster Working Capital Finance

standard chartered, Taulia, working capital finance

Working capital manager Taulia and international banker Standard Chartered are collaborating to advance working capital finance solutions and will initially target supply chain finance and dynamic discounting.

The companies signed a memorandum of understanding (MoU) to extend the reach of their working capital finance solutions across both existing and new client networks, especially multinational companies that require expertise and support at both global and local levels, according to a press release emailed to PYMNTS on Wednesday (Sept. 21).

See also: Standard Chartered Tests Duplicate Finance Detection Tool

Taulia’s front-end platform and integrated technology will power supply chain finance and dynamic discounting solutions. Standard Chartered has a wide global presence and footprint in emerging markets as well as trade finance expertise and deep client relationships. The collaboration between the two firms is expected to help clients strengthen their supply chains by helping their suppliers gain access to working capital in a more efficient and cost effective way.

Taulia’s January acquisition by business processes software firm SAP should also present additional opportunities “to deliver a differentiated experience for buyers and suppliers.” The collaboration with Standard Chartered marks the first MoU that Taulia has signed with a banking institution since being acquired.

Related: SAP to Secure Majority Stake in Working Capital Firm Taulia

Thomas Mehlkopf, head of Working Capital Management CoE at SAP and member of the Taulia Leadership Team, said signing the MoU with Standard Chartered “marks another milestone” in the company’s quest to expand its network and “work closely with our partners” to bring clients working capital solutions.

“We believe that all CFOs should focus on their cash strategy to ensure growth during these turbulent times and our partnership with Standard Chartered will deliver cash when and where it is needed, especially in emerging markets,” Mehlkopf said.

Headquartered in San Francisco, California and founded in 2009, Taulia helps companies access value tied up in their payables, receivables, and inventory. The company processes more than $500 billion each year and works with a network of more than 2 million businesses.

“Ensuring our clients are managing their working capital efficiently is a key priority in ensuring that their businesses grow sustainably, especially with the complexities and challenges in today’s supply chains,” said Standard Chartered Global Head of Trade & Working Capital Kai Fehr. “Taulia’s footprint also complements that of the Bank, offering greater opportunities for us to support companies in the West with their supply chain flows into Asia, Africa and the Middle East.”

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