London, September 4 2013 – Crossflow Payments has launched an advanced cloud-based system for transaction processing and P2P finance to ease cash flows between buyers and suppliers. The system brings together buyers, suppliers and finance providers to deliver a smart way for businesses to finance their supply chain.
Building on the experience of processing over 20 million invoices to date, Crossflow Payments offers buyers a simpler and cost-effective transaction processing solution. Migrating to Crossflow Payments’ cloud transaction processing platform takes less than 30 days. In addition, the solution provides a range of benefits including advanced reporting functionality and a higher level of resilience compared to existing EDI providers.
Tony Duggan, CEO of Crossflow Payments commented: “We understand the importance of maintaining a healthy supply chain from start to finish for all businesses. Our system helps buyers keep their relationship with suppliers mutually beneficial so that external factors like long payment cycles don’t affect cash flows and relationships”.
The system is an important advancement in helping businesses to grow in an environment where finance is limited. ‘‘From my experience, buyers have implemented systems to support just in time operations in the supply chain with significant benefits in streamlining processes and reducing costs. In a similar way, Crossflow Payments enables the introduction of just in time finance aligning the flow of finance to suppliers with equally significant benefits,” concluded Duggan, former Supply Chain Development Director at Wickes.
With the increased frequency of longer payment terms, which can cause problems for supply chain cash flows, Crossflow Payments’ system helps businesses to overcome this by giving suppliers instant access to funds in the time period between invoices being raised and paid. Funds are provided on a peer-to-peer (P2P) basis by financial providers including investment managers and financial institutions, high net worth individuals, hedge funds and pension funds, who are able to take advantage of low risk, high yield opportunities to support supply chains.
Kaynak : 