- Taulia and Normal Chartered signed a Memorandum of Understanding to collaborate on working capital finance options.
- The partnership will initially deal with provide chain finance and dynamic discounting.
- The settlement will supply Taulia entry to Normal Chartered’s international shopper base.
Provide chain finance firm Taulia has inked an settlement with Normal Chartered this week. The settlement comes within the type of a Memorandum of Understanding (MoU) to collaborate throughout a spread of working capital finance options.
The 2 will start by specializing in provide chain finance and dynamic discounting, two options that Taulia affords to consumers. Taulia will use its experience on this space, mixed with Normal Chartered’s international shopper base, to assist purchasers construct a extra resilient and sustainable provide chain.
In the end, the partnership goals to allow suppliers to entry working capital in a extra environment friendly and price efficient method.
“We’re excited to work with Taulia to discover new and progressive methods to help our purchasers’ working capital wants, in addition to extending the Financial institution’s main sustainable commerce experience into their enterprise community,” mentioned Normal Chartered International Head of Commerce & Working Capital Kai Fehr. “Taulia’s footprint additionally enhances that of the Financial institution, providing better alternatives for us to help firms within the West with their provide chain flows into Asia, Africa and the Center East.”
Taulia was based in 2009 to assist companies enhance their provide chains by offering financing choices with versatile fee phrases. Utilized by a community of two million organizations, the corporate’s instruments assist companies speed up funds and unencumber working capital. Taulia processes over $500 billion yearly. Amongst Taulia’s purchasers are Airbus, AstraZeneca, Nissan and Vodafone.
Taulia was acquired by SAP earlier this 12 months and at present’s settlement marks the primary MoU that Taulia has signed with a banking establishment post-acquisition. Taulia anticipates that having the backing of SAP will assist it entry additional alternatives throughout SAP’s ecosystem and ship a differentiated expertise for each consumers and suppliers.
“We consider that every one CFOs ought to deal with their money technique to make sure development throughout these turbulent occasions and our partnership with Normal Chartered will ship money when and the place it’s wanted, particularly in rising markets,” mentioned SAP Head of Working Capital Administration CoE and member of the Taulia Management Crew Thomas Mehlkopf.