Enhancing Supply Chain Finance with Bank Payment Obligation (BPO)

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1 Enhancing Supply Chain Finance with Bank Payment Obligation (BPO) Peter Chin Sibos 2013 Dubai September 17, 2013 Copyright Premium Technology, Inc All Rights Reserved

2 BPO Enhancing Open Account SCF Credit markets and working capital liquidity presents challenges for financial institutions to retain clients as their creditworthiness changes. Financial instructions can enhance its supply chain finance products with BPO to address risk mitigation, transaction visibility, and operational efficiency. This session will discuss how various supply chain finance products with BPO can accommodate client working capital needs. 1 Copyright Premium Technology, Inc All Rights Reserved

3 What is Supply Chain Finance? Supply Chain Finance (SCF) is a collaboration of trade-related participants provided by a financial institution, a third-party, or an internal corporate treasury using a technology platform. This connects the buyer, supplier, and the funding servicer electronically to provide financing based on supply chain events. 2 Copyright Premium Technology, Inc All Rights Reserved

4 What are SCF product offerings? Open Account Based Supplier Finance Approved Payables Finance Receivables Finance Purchase Order Finance Factoring Two Factor Factoring Asset Based Lending ABL 3 Copyright Premium Technology, Inc All Rights Reserved

5 What is a BPO? Bank Payment Obligation (BPO) is an irrevocable undertaking given by one bank to another bank that payment will be made on a specified date after a successful electronic matching of data according to an industry-wide set of rules. BPO is a new alternative instrument for trade settlement. It is similar to a Letter of Credit, but it deals with electronically exchanged data rather than documents. It is designed to complement and not to replace existing trade solutions.. 4 Copyright Premium Technology, Inc All Rights Reserved

6 Bank Payment Obligation Alternative instrument for trade settlement A fully automated end-to-end trade transaction Exclusively in the Bank to Bank space SWIFT TSU Electronic Matching (PO, Invoice, Shipment, Certificates, etc) Assurance of Payment Reduced Risk Possible use as collateral for finance 5 Copyright Premium Technology, Inc All Rights Reserved

7 Supplier Finance Initiated by buyer approval of invoices, authorization of payment Financing to suppliers can be automatic or manually requested by supplier per approved invoice Financing rates are based on buyer s credit Targeted for large buyers and their critical suppliers with limited credit Opportunities to increase buyer s DPO 6 Copyright Premium Technology, Inc All Rights Reserved

8 Supplier Finance Benefits through BPO Dematerialized documents, digitalized Electronic based visibility On-boarding costs reduced No additional KYC, compliance costs Eliminates multiple system platforms Promotes partner bank collaboration Time-to-Market accelerates revenue stream Impact: Customer Growth 7 Copyright Premium Technology, Inc All Rights Reserved

9 Receivables Financing Financing (discounting) of invoices directly from supplier Invoice pooling to create collateral based loans for a rolling funding Targeted for suppliers with established credit, higher volumes Higher quality transactions for participation 8 Copyright Premium Technology, Inc All Rights Reserved

10 Purchase Order Financing Financing of buyer initiated Purchase Orders Funding provided to supplier earlier in sales cycle pre-shipment Can be paired with Receivables Financing post shipment Early financing holds greater value to supplier, commands higher pricing from lender Targeted for corporates with solid credit Possible added value services/benefits Collaboration between buyer and supplier to negotiate P.O. Generates Pro-Forma invoice Generates Commercial Invoices Reconciles commercial invoices, shipping documents, packing slips, ERP/AP system, and any associated credit memos Monitoring the location and status of goods in transit 9 Copyright Premium Technology, Inc All Rights Reserved

11 Purchase Order Financing Benefits through BPO PO input with TSU Common single platform with TSU Collaboration on establishing baseline Pre-shipment finance Data set input and match Post shipment finance 10 Copyright Premium Technology, Inc All Rights Reserved

12 Factoring Purchase of invoices directly from supplier Can be with or without recourse Targeted for small suppliers / limited credit Typically includes extra validation & controls Buyer/Debtor Verification of Invoices Document Requirements Check List Credit Insurance Variations include single factor (domestic) and two factor (import/export) transactions via the FCI network 11 Copyright Premium Technology, Inc All Rights Reserved

13 Factoring Benefits through BPO Two factor control with BPO Four Corner approach Broadened and standardized platform Increased visibility Increased operational efficiency Increased participants in business 12 Copyright Premium Technology, Inc All Rights Reserved

14 Documents Comparison with Other Solutions Advise Data BPO Combines the security of a L/C with the simplicity of Open Account Contract Contract Buyer Contract Supplier Buyer Documents Supplier Buyer Documents Supplier Application Letter of Credit Documents Bank Payment Obligation Data Open Account Documents Issuance Data LC Issuing Bank Payments LC Advising Bank BPO BPO Obligor Bank Recipient Bank Payments Buyer s Bank Payments Seller s Bank 13 Copyright Premium Technology, Inc All Rights Reserved

15 Collaborative Interactions Between Parties Competitive Bank A Corporate A Transaction Matching Application BANK SERVICES - Risk mitigation - Financing - Data checking outsourcing - Information Competitive Trade Facility Bank B Corporate B 14

16 Banks Transaction Matching Application BPO transaction lifecycle Purchase Order BPO Establishment Initial Baseline Submissions Baseline Match Report Invoice & Transport data Dataset Matching Dataset Submission & Reports Baseline Amendments Mismatch Acceptance or Rejection Payment Payment Due Payment Cash Reporting 15

17 Asset Based Lending Targeted for corporates with limited but improving credit A revolving line of credit based on value of eligible assets Assets may include invoices, inventory, equipment, real estate, etc. Customer is permitted to draw down against pre-approved borrowing base as needed 16 Copyright Premium Technology, Inc All Rights Reserved

18 What may happen in the future? We can foresee some of the impact on various SCF services, and emergence of BPO-based new SCF services Factoring activity: volume will be decreased and replaced by BPO-based financing Supplier Finance (approved payables financing) single bank model will decrease with BPO-based financing Receivable financing volume will decrease and replaced by BPO-based financing Banks provide better integration on various SCF to Enable banks to mitigate their risk more effectively Lower total cost of financing for the clients Reduces trade life cycle time with improved workflow 17 Copyright Premium Technology, Inc All Rights Reserved

19 Premium Technology Inc. Premium Technology Inc. is a SCF technology and solutions company with headquarters in New York. Founded in 2001 as trade finance e-commerce developer Focused on FinShare Supply Chain Finance (SCF) Solutions Trade Finance and IT Consultancy Locations: U.S.A. & China (Beijing, Hong Kong, Wuhan) 18 Copyright Premium Technology, Inc All Rights Reserved

20 Contact information: Peter Chin, EVP +1 (212) Ext Copyright Premium Technology, Inc All Rights Reserved

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