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Finance Blog Posts

Loraine Lawson
Loraine Lawson
Filed Under
04.272013

New Banking Standard Supports Interoperability in Supply Chain Finance

Banks are often on the cutting edge of technology, but not, it seems, when it comes to managing supply chain finance.

Just as in manufacturing, banks and financial services firms operate a supply chain of services that requires purchase orders, payments and other management details. The problem is, banks have been trying to manage all those transactions without agreeing to interoperability standards, according to a recent whitepaper, “A New Start for Supply Chain Finance.”

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Loraine Lawson
Loraine Lawson
Filed Under
11.162012

Integration Key for Real Time Financial Services Reporting

Integration and interoperability is one of the top barriers to successful strategic actions at financial services companies, according to a recent Aberdeen Group survey.

Aberdeen surveyed 135 financial executives about the drivers for real-time reporting. It asked about different aspects of financial reports, including access to financial data and disclosures, ability to compare non-financial data and reporting accuracy.

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Loraine Lawson
Loraine Lawson
Filed Under
11.082012

UK Adopts Unusual Approach to Fix Delays in Supplier Payments

The UK is taking an unusual approach to late payments to suppliers: Prime Minister David Cameron is encouraging large companies to support its Supply Chain Finance Scheme, in which companies agree to notify a bank as soon as an invoice is approved and the supplier can then use that to access a low-interest rate from the bank for the amount of the invoice.

It’s the government’s attempt to stimulate job growth in small and mid-sized companies by helping them gain access to credit — which has dried up for many small and mid-sized companies in the UK. It’s estimated that small and medium-sized companies are currently owed £36.4bn in outstanding supplier payments.

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Loraine Lawson
Loraine Lawson
Filed Under
05.242012

B2B.com Readers Prefer EDI Standards for Partner Exchanges

Recently, we polled the B2B community about how you exchange information with your business-to-business partners.

It’s probably not surprising that the most responses said they use EDI, although it wasn’t as close as we’d like. It turns out nearly 36 percent use EDI, but Excel spreadsheets ranked second, with 28 percent saying that’s how they share data with B2B partners.

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