Trade Finance: Buyer/Supplier Management

Trade finance buyer/supplier management has traditionally been a very complex, manual process that is paper intensive. Due to the global nature of it and the different regulations and processes from country to country, bank relationship managers manage onboarding and servicing journeys that are highly detailed, making it a slow and potentially error-ridden process. This leads to high operational costs, slow onboarding or servicing of both buyers and suppliers and a lack of transparency into the process and how it's going.

Challenges:

• Delayed supplier/buyer onboarding
• Slow and manual servicing of ongoing relationship
• The need for robust staffing to manage the ecosystem well
• Potential for human error in the manual processes
• No visibility for either buyer/supplier into their onboarding or servicing, so they are in the dark

OvationCXM's orchestration platform allows bank trade finance teams to modernize and streamline their operations so buyer/supplier management is smoother and faster.

• Standardizes and automates the foundational journey flows
• Allows for fast customization for regional and buyer/supplier differences
• Optimizes journeys with a simple, drag-and-drop journey builder, to add steps, reorder steps and automate actions
• Unlocks visibility for everyone and self-service capabilities through a buyer/supplier portal