HSBC and Tradeshift set to shake up global supply chains

News | 30 March 2017

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HSBC has partnered with Tradeshift to develop a digital platform where clients can manage their global supply chains and working capital needs.

Customers will be able to access working capital and supply chain finance from HSBC on the platform, as well as managing procurement, accounts payable and settlement in their global supply chain.

Tradeshift was built with the goal of connecting all of the world’s businesses together and the fintech has developed a reputation as one of the best providers of a digital supply chain. The company enjoyed 250% year-on-year growth over 2014-15, after which point HSBC and various other investors became involved with the fintech.

“We support customers right through the trade cycle and globally process US$1m of trade a minute. The ability to provide value added services to the entire supply chain, combined with our capacity to provide finance across the breadth and depth of HSBC’s global network, create a unique proposition,” said Vivek Ramachandran, global head of propositions, global trade and receivables finance at HSBC.

As well as improving transparency, speed and cutting costs, buyers and suppliers will be able to interact in real time and SMEs will be able to access finance earlier in the cycle.

“HSBC’s global scale and financial expertise will grow and accelerate the benefits gained from the digital supply chain processes enabled by our business commerce platform,” Christian Lanng, CEO and co-founder of Tradeshift. 

 “We are excited to partner with HSBC to combine our strengths and deliver value to customers by innovating ways to boost the speed and simplicity of financial services, such as supply chain financing.”

The platform will be available to clients from July 2017, with HSBC setting its sights on expanding the range of working capital solutions it offers on the platform in 2018.  

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