Powered by AI, SaaS platform VNDZY® offers a connected ecosystem for Corporations, Suppliers and Financial Institutions, creating a win-win solution backed by cutting-edge technologies.
Corporations struggle with multiple challenges, including onboarding multiple vendors, validating vendor credibility, managing multiple banks, manual payment processes, and integrating ERP & Financial Institutions. On the other side, suppliers struggle with manual communication and multiple follow-ups to get their payments released, with no visibility on the payment dates, sending out invoices manually and so on. This amplifies into struggles in maintaining liquidity to ensure business sustainability and affects scalability opportunities.
VNDZY® (stands for Vendor Management made Easy) addresses all the challenges of the supply chain ecosystem and enables a mutually beneficial platform for all the stakeholders. For Corporates (Anchors), it facilitates centralised management of vendor payments, optimising the company's working capital while helping to improve the financial health of their suppliers. It helps CFOs and treasurers add tremendous value to the business.
The platform also strengthens the Suppliers, with benefits such as the clearance of payments duration is shorter, which helps improve financial discipline. Furthermore, suppliers get dynamic discounts, and VNDZY® also enables direct negotiations with the corporates.
IBSFINtech MD and CEO CM Grover said, "Supply Chain Finance is a cumbersome process and pandemic has accelerated the need for technology adoption to augment the SCF ecosystem. With our holistic understanding and cross-industry experience of corporate treasury and trade finance digitisation, automating the supply chain function has always been part of our strategic vision. Therefore, we are delighted to launch our new cutting-edge technology product, VNDZY®, a SaaS-based solution for Supply Chain Finance. We are continuously enhancing our established product portfolio in Treasury, Risk and Trade Finance management with the latest in technology. This year will witness the expansion of our portfolio with the launch of multiple products catering to the core Corporate Finance function as well as the peripheral areas."
Through this solution, IBSFINtech integrates multiple disparate teams within the organisation, connects the vendors, gets the Financial Institutions on board, brings them all onto one platform, and ensures the entire supply chain process becomes completely digitised. The company plans to launch more products in the segment, catering to Dealer Finance and PO Finance, to facilitate the end-to-end digitisation of the SCF ecosystem.