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RTS International Exceeds $1 Billion in Annual Trade Financing on Infor Nexus Digital Platform - Suppliers in 30+ Countries Obtain Access to Capital and Payment Visibility Necessary to Grow Their Businesses - RTSInternational.com / Infor.com
RTS International Exceeds $1 Billion in Annual Trade Financing on Infor Nexus Digital Platform

 

PRZOOM - /newswire/ - New York, NY, United States, 2019/03/27 - Suppliers in 30+ Countries Obtain Access to Capital and Payment Visibility Necessary to Grow Their Businesses - RTSInternational.com / Infor.com.

   
 
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Infor, a global leader in business cloud software specialized by industry, announced today that RTS International is financing more than $1 billion in global trade annually through the Infor Nexus supply chain platform. RTS International specializes in pre- and post-export financing models for apparel and footwear businesses in Africa, the Americas, Asia, Eastern Europe and the Middle East.

RTS International has provided financing through Infor Nexus since 2010, serving more than 100 buyer communities. The digital platform automates trade documents and processes between a buyer, its suppliers and RTS International to enable visibility, transparency and touchless approvals and settlements that benefit all three parties. The Infor Nexus global services team helps ensure that suppliers are swiftly onboarded.

“Plugging into Infor Nexus’s digital platform has enabled us to become a strategic partner to our customers, while enabling us to increase revenue and reduce risk and costs,” said Luis Mondragon, Vice President, RTS International. “We can leverage a supplier’s transactional and milestone data to deliver unique and creative financing. Capital is provided based upon the credit of the buyer, not the supplier's balance sheet, without assuming new debt. Infor Nexus’s electronic document management and digitization tools automate approval processes and increase days of available funding, allowing us to finance shorter-term maturities that are not possible in a traditional paper environment.”

Visibility into live transactions, historical performance data, receivable flows, order balances and upcoming ship-date volumes enables RTS International to provide financing to suppliers in emerging regions, leveraging the credit strength of their buyers. Smaller suppliers, which typically would not qualify, obtain access to funding within days of a completed order, at competitive rates.

Orient Craft Ltd., which supplies ready-made garments and home furnishings to retailers in the United States and the United Kingdom, is using Infor Nexus to manage multiple customers, factories, and access to capital on a single network.

"We recently started a relationship with RTS International to factor invoices from our customers, such as Zara and Abercrombie & Fitch," said Anoop Dhanda, the company's finance director. "RTS International mitigates the risk of cash-flow disruptions, provides us with immediate liquidity and helps us better utilize our banking limits."

RTS International can provide suppliers with credit evaluation services to help assess the financial stability of the buyer and avert disruptions in the flow of cash.

Infor Nexus leverages data to help suppliers auto-create fulfillment documents to drive compliance and mitigate discrepancies, penalties and chargebacks, fostering a healthier financing environment. The process allows the supplier to concentrate on developing sales instead of having to manage multiple processes to get paid. Once Orient Craft ships its products, it finalizes its fulfillment documents on the Infor Nexus network. The documents are compared to the terms on the purchase order, and a payment decision is made by the buyer, often while the goods are still at origin. “It takes two to three days maximum, after turning over the goods to the freight forwarder, to release export proceeds,” said Dhanda.

“By eliminating paper from global trade processes and workflows, buyers, suppliers and finance providers such as RTS International can improve documentary compliance and leverage a multi-enterprise infrastructure to enable new opportunities for collaboration and services,” said Rod Johnson, EVP of Manufacturing and Supply Chain at Infor. “Customers on our network benefit from a single platform delivering multiple forms of credit risk products, such as payment assurance and factoring; or trade finance solutions for pre-shipment, receivables, payables and inventory financing. RTS International was an early adopter of digital trade financing technology and has leveraged it as a catalyst for business growth.”

About RTS International

RTS International (rtsinternational.com) provides accounts receivable financing solutions, also known as “factoring,” to companies that export products around the world. We serve a range of industries based in Latin America, Europe and Asia, as well as other corners of the globe. Our accounts receivable financing solutions immediately increase our clients’ cash flow, so they can accelerate their growth and gain greater financial stability.

About Infor

Infor (infor.com) is a global leader in business cloud software specialized by industry. With 17,300 employees and over 68,000 customers in more than 170 countries, Infor software is designed for progress.

Infor customers include:

• 19 of the top 20 aerospace companies
• 9 of the top 10 high tech companies
• 18 of the 25 largest U.S. healthcare delivery networks
• 18 of the 20 largest U.S. cities
• 19 of the top 20 automotive suppliers
• 17 of the top 20 industrial distributors
• 15 of the top 20 global retailers
• 4 of the top 5 brewers
• 17 of the top 20 global banks
• 9 of the 10 largest global hotel brands
• 8 of the top 10 global luxury brands.

 
 
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RTS International Exceeds $1 Billion in Annual Trade Financing on Infor Nexus Digital Platform

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