Concrete Products and Aggregate (CPAC) and SCG Logistics Management (SCGL), both subsidiaries of Thailand industrial conglomerate Siam Cement, have implemented Deutsche Bank’s SupplierFinance programme.
SupplierFinance is part of Deutsche Bank’s db financial supply chain solutions set which is a combination of cash management and trade capabilities. It provides a fully automated online trade payables financing tool for users, which allows them to manage electronic payments to their suppliers more efficiently through Deutsche Bank’s business-to-business electronic platform, eBills.
“This programme fits our requirements as all our strategic suppliers can come on board,” said Pairoj Anamwathana, managing director of CPAC, in a statement. “It also helps us to reduce the workload during implementation, as minimal effort was required to upload our payment and invoice files into the Deutsche Bank system.”
According to Deutsche Bank, SupplierFinance enables Thai companies to support their strategic suppliers through access to financing at competitive rates and the implementation of payment terms that match their underlying cashflows. Payments are made electronically through SupplierFinance which grants suppliers online access to discount receivables.
“Deutsche Bank was able to provide a supplier financing solution with a simple implementation process and using an online platform,” said Nithi Patarachoke, managing director of SCGL, in a statement. “The solution provides a competitive financing option for our partners and it helps us build stronger and more sustainable relationships with them.”
“We see technology as a key enabler in achieving greater working capital efficiencies for our clients and we are continuing to make investments in our financial supply chain management platform,” added Roger Packham, Deutsche Bank’s regional head of trade finance for Asia. “SupplierFinance demonstrates the value add we provide our clients and their counterparts along the financial supply value chain by providing them with bespoke solutions.”