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New Solutions for Procurement Finance

  • Bernardo NicolettiEmail author
Chapter
Part of the Palgrave Studies in Financial Services Technology book series (FST)

Abstract

Digital transformation has allowed exploiting new solutions to support the increasing need for procurement finance in support of the digital transformation and the globalization. The new solutions support the full procure-to-pay process: from ordering and tendering to credit and financing, to the payment, and the support to the preparation and collection. In terms of ordering, the portals and the e-marketplace are particularly relevant. Thanks to an omnichannel approach, it is possible to access an application everywhere, with any device, anywhere, and anytime. Risk management is providing a great support to the credit and financing transactions. Great signs of progress are taking place in the field of advance payments and in particular in the foreign exchange market. Finally, the processes are more and more dematerialized and moving to the cloud. The benefits are easier access, simpler storing, and availability at all the times and everywhere.

Keywords

Trade finance Supply chain finance Procurement finance Omnichannel Foreign exchange Procurement risk management Documentation OCR Intelligent OCR Procurement portal 

Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.Rome campusTemple UniversityRomaItaly

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