ASYX International B.V. C r e a t i n g v a l u e t h r o u g h p a r t n e r s h i p

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1 C r e a t i n g v a l u e t h r o u g h p a r t n e r s h i p

2 Agenda Company overview Supply Chain Finance today Operational implications SCF Summary and conclusion 2

3 ASYX - Company profile Profile ASYX is Software & Service provider of - Supply Chain Collaboration Solutions - Supply Chain Finance Solutions - Founded in Employees: Presence in Europe (HQ Amsterdam), Asia (Jakarta) Partnerships / Clients - 2 International Banks in APAC - 2 International Banks in Europe - 2 Large Blue Chip Corporates - Incl. 6,000 Suppliers/Distributors Winner White Bull Award for Leading European Technology Firm

4 Strength of our Company - ASYX is a Dutch company with offices in The Netherlands and Indonesia. With our multi-cultural and multi-skilled team we combine the Dutch no-nonsense approach with the Asian can do mentality. - Front runner SCF technology: ASYX strongly believes in a holistic approach with solutions that integrate the physical and financial supply chain. Our thought leadership is recognized by the international industry community. ASYX is the winner of the 2011 White Bull award. The award honours top European technology, media and telecommunications companies. - Knowledge Centre: ASYX has a very experienced SCF team which can support your bank to become the knowledge leader in your market when it comes to Supply Chain Finance. - Strong presence in Europe, Africa and ASIA: With local teams in Europe and ASIA, ASYX has a footprint in the locations where the buyers and suppliers are based. We are currently working on projects in Africa and The middle East where we work with local partners. 4

5 ASYX Supply Chain Solutions PO & RA Financing Solution (PO & Shipping financing) Early Payment Solution Reverse Factoring Dynamic Discounting Late Payment Solution (Distributor / Buyer financing) Factoring Solution (Traditional factoring) Order-to- Payment Solution (E-Invoicing) Master Data Management 5

6 Our solutions improve Working Capital throughout the entire Supply Chain PO $50 RA $50 INV $50 /30 INV $100 /30 Supplier Buyer / Seller Distributor $10/ -30 DAY $10 / -20 DAY $28 / 1 DAY $50 / 30 DAY $99 / 1 DAY $100 / 30 DAY $101 / 60 DAY PO & RA FINANCING SOLUTION EARLY PAYMENT SOLUTION FACTORING SOLUTION LATE PAYMENT SOLUTION 6

7 Agenda Company overview Supply Chain Finance today Operational implications SCF Summary and conclusion 7

8 Supply Chain Finance has expanded over time into a broader set of integrated services Basic reverse factoring - Combined domestic trade finance with supply chain management through reverse factoring - Typically involved many manual processes and verifications International reverse factoring - Emerged as many large companies began sourcing their raw materials from SMEs around the world - Online platforms allowed buyers to connect its top 200 to 400 suppliers to a platform (typically supported by the buyer s bank) in order to receive faster payment at a favorable discount 8 Integrated working capital platform - Integrates the physical supply chain with the financial supply chain from end to end - Fully automates the buyers orderto-pay and suppliers order-to-cash cycles - Supports event-triggered financial services along the physical supply chain, including: - Order-to-Payment - Invoice matching services - PO / RA financing - Open account payments - Early Payment / Reverse factoring - Late Payment / Distributor financing

9 What we see in the market From a bank perspective: - Holistic approach: Fi s are interested to see how they can offer working capital solutions throughout the entire supply chain - Complete offering: Fi s not only want a SCF provider that provides a platform, but they also would like to have a partner that helps them to deploy their solutions. From a buyer perspective - Continued focus on working capital improvement. Working capital metrics becoming a key measure - More creativity in looking for financing - Long term trend from L/C to open account still intact (Source: Deutsche Bank, April 2010) From a Supplier perspective - Increased pressure on payment terms (source: working capital survey ASYX- Accenture) - Almost 47% of the suppliers shows interest in reverse factoring (source: working capital survey ASYX- Accenture) 9

10 Obstacles to overcome From a bank perspective: - Banks are struggling to set a consistent SCF strategy and look for partners that help them in this process. - Possible conflict of interest between traditional and new trade finance instruments the moment a well thought of strategy is missing - Lack of standards to push investments and unfit legacy platforms - Lack of capabilities in Supply Chain Finance From a Buyer perspective - Buyers need help with rolling out their SCF program to their supply chain partners - Multiple stakeholders need to agree (Procurement, Legal, IT, Finance) - Buyers need guidance during the project and benefits need to made clear to them - Buyers need clarity regarding accounting treatment of receivables by auditors From a Supplier perspective - Buyers have difficulties explaining the benefits of the SCF program to their suppliers - Suppliers feel that they have to provide a lot of information before they can attend the SCF program. - Suppliers would like to get more certainty regarding the availability of the SCF program in the future and also regarding the height of the interest rates charged by the bank. 10

11 Agenda Company overview Supply Chain Finance today Operational implications SCF Summary and conclusion 11

12 Why implementing SCF Improve working capital. On average, Buyers are ablt to improve their Working Capital position by 14% by increasing their DPO. Suppliers are able to improve their Working Capital position by 13% by reducing their DRO. Help your key suppliers to fund them and strengthen your relationship Standardize payment terms Improve other commercial terms Information gain about suppliers finances 12

13 Key Considerations in Structuring SCF As a buyer you need to make a number of important choices when considering rolling out a SCF program Structuring (legal docs & process flow) How to structure the informa9on flow and legal documents to make sure that accountant will not reclassify trade payables to bank loan? Choice of bank Dependence on bank in future Fit bank supplier base Desired nature of contact between bank & supplier? Is cross selling by bank ok? Deal with bank Reverse Factoring rates? Does bank accept all suppliers? All payments to supplier done bank or only early payments? Condi9ons of commitment bank (on what condi9on can they stop RF)? Dura9on commitment bank? Why SCF? Supplier rela9onship Referral fee Stretching payment terms.. or a combina9on Which suppliers? Only include long- term suppliers (repeat orders)? Suppliers from all regions? How to differen9ate fees per supplier and based on which criteria? Choice of pla6orm provider Choose bank- with- plagorm or independent plagorm and only involve bank for funding? 13

14 Key succes factors? Select a good (banking) partner (Geographic reach, legal expertise and financial muscle / connections) Define a clear on-boarding process which clearly outlines who does what supported by top management. Mostly Finance, purchasing, Supply Chain management, IT and Legal are involved. Start small but aim for >60% of your supplier base Work out a clear pricing strategy with the base on the suppliers costs of funds Involve and train the people in procurement that are responsible for supplier relationship Combine with E-invoicing to speed up approval process (increase the window for funding) 14

15 Project plan Phase -1 Phase 0 Phase 1 Phase 2 Phase 3-1. Pre-project 0. Preparation 1. Pilot 2. Roll Out 3. In House -1.1 Project set-up 0.1 IT data exchange 0.2 Security set-up 0.3 Stakeholder organization set-up 0.4 Legal framework 0.5 Buyer Selection 0.6 Preparation sign-off 1.1 Pilot Buyer activation 1.2 Pilot Supplier activation 1.3 Pilot Early payment routine 1.4 Pilot sign-off 2.1 Operational roll-out Product launch Operational embedding Client services support 2.2. Commercial roll-out Buyer engagement Buyer activation Supplier activation Early payment process Reporting 3.1 IT-project in-house solution 2.3 Prepare for in-house IT solution Project organization Stakeholder organization 15

16 Agenda Company overview Supply Chain Finance today Operational implications SCF Summary and conclusion 16

17 Summary & conclusion Set clear goals from the beginning. What would you like to achieve with your SCF program? Supply financing is a General Management project and requires strong leadership throughout the organization and can take more time then anticipated. Requirs careful coordination between all parties involved in order to ensure positive WC effect. Need to work out an efficient process before on-boarding which includes a file transfer and automatic matching process Need to have a clear strategy on which suppliers to include at what price Need to have a platform supplier and or banks that can actively support the implementation process. 17

18 Questions? Roel Elshout CEO ASYX International World Trade Center Tower A FL. 5 Strawinskylaan XX Amsterdam Mobile:

19 Disclaimer - This presentation is for information purposes only and is designed to serve as a general overview of ASYX services. The services offered are current as today and may be subject to change in the future. This presentation and the general description of the services are in their nature only illustrative and do not therefore contain or cannot result in any obligation or liability (contractual or otherwise) of ASYX or any of its affiliates. - The services described in this presentation are provided by ASYX or one of its more appropriately licensed subsidiaries or affiliates in jurisdictions around the world in accordance with appropriate local legislation and regulation. This presentation has been approved and/or communicated by ASYX International B.V. - This presentation is subject to copyright. No part of this publication may be reproduced without the consent of ASYX International B.V. The Netherlands. All rights are reserved, whether the whole or part of this material is concerned, including the rights of translation, reprinting, reproduction, electronic and other dissemination and reuse of illustrations, diagrams, formulae and other content. ASYX International B.V. The Netherlands. - ASYX shall not assume or accept any responsibility or liability of any kind for the truth, adequacy, accuracy, completeness or reasonableness of, and make no representation, warranty or undertaking (express or implied) with respect to the information contained in (or any omissions from) this presentation. Neither ASYX nor any of its directors, officers, employees, agents, representatives or professional advisors shall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of any errors or omissions from the presentation or relying on any statement contained in the presentation. ASYX reserves the right, without prior notice and at its own discretion to terminate discussions or the delivery of any further information to the recipient at any time. 19

20 Early Payment: Benefits across the Supply Chain SUPPLIER Improved Buyer relationship Quick and easy funding Free up working capital and improved financial position 100% financing possible Leveraged Buyers borrowing power Alternate source of liquidity More predictable cash flows No Investments Buyer Improved Supplier Relationship Improved commercial terms (i.e. stretch payment terms or a referral fee) Reduced Account Payables Costs Reduced risk in the Supply Chain Comply to Sarbanes & Oxley through supply chain transparency Smoother communications via electronic communication platform BANK One Buyer relationship delivers hundreds/ thousands of new SME customers (the Suppliers) Increased profitability thanks to lower capital requirement (especially in light of Basel III) Perfect new solution in current financial climate Supporting & promoting sustainable business practices More control & less work than traditional factoring 20

21 Late Payment: Benefits across the Supply Chain SELLER Improved distributor Relationship Improved commercial terms (i.e. reduce payment terms or a referral fee) Reduced Account Receivable Costs Reduced risk in the Supply Chain Comply to Sarbanes & Oxley through supply chain transparency Smoother communications via electronic communication platform DISTRIBUTOR Increase DPO, enabling better use of existing credit facilities Free up working capital and improve financial position Alternate source of liquidity More predictable cash flows No Investments Smoother communications via electronic communication platform BANK One Seller relationship delivers hundreds of new customers (the Distributor) Perfect new solution in current financial climate Supporting & promoting sustainable business practices 21

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