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Oracle Banking Tech Helps Corporations Optimize Working Supply Chain Capital - Oracle Banking Supply Chain Finance enables banks to align corporations’ supply chains to improve operations, reduce risk and preserve cash - Oracle.com
Oracle Banking Tech Helps Corporations Optimize Working Supply Chain Capital

 

PRZOOM - /newswire/ - Redwood Shores, CA, United States, 2020/10/16 - Oracle Banking Supply Chain Finance enables banks to align corporations’ supply chains to improve operations, reduce risk and preserve cash - Oracle.com. NYSE, NASDAQ: ORCL

   
 
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The pandemic has disrupted the entire global supply chain, highlighting the need for greater financial agility between buyers and suppliers. Banks can play an important role in supporting and preserving supply chains and managing risk with effective financing programs. With componentized architecture and built-in machine learning (ML), Oracle Banking Supply Chain Finance gives corporate banks the flexibility needed to help their clients optimize working capital and reduce transaction risk.

“Supply chain financing is surpassing traditional trade financing; we saw an opportunity to bring to market a modern solution that can supercharge supply chain financing by leveraging tech innovation. With Oracle Banking Supply Chain’s fully digitized processing and real-time analytics, banks can help corporates further optimize working capital and liquidity in their supply chains,” said Sonny Singh, executive vice president and general manager, Oracle Financial Services.

By digitizing the entire supply chain financing process, banks can now deliver timely alternative financing options and provide quicker approvals. Providing omni-channel portal access, corporate banks can empower their clients with real-time visibility into transactions. Oracle Banking Supply Chain Finance also provides real-time availability of funds and payment reconciliation through complete automation and straight-through processing (STP) of disbursement and liquidation processes.

Oracle Banking Supply Chain Finance frees banks from legacy monolithic systems by using component-based architecture to create relevant products and services. This allows corporate banks to meet their customers’ unique business and regulatory needs and drastically cut down ‘time-to-market.’ As such, banks can deliver increased value to corporates by optimizing working capital across a wide variety of financing options, including reverse factoring, supplier finance, payable finance, receivable finance and more.

By leveraging ML, the intelligent system allows automatic data capture from scanned invoices thereby reducing labor-intensive manual efforts. The key information from invoices is automatically extracted and processed for funding basis pre-configured financing parameters, allowing up to a 70 percent reduction in time and effort for finance processing and invoice management.

Oracle Banking Supply Chain Finance also:

• Automatically detects un-matched payments initiated by buyer or supplier and reconciles them against outstanding invoices or finances, reducing disruption in the supply chain.
• Allows banks to set precise limits for various types of transactions through automated workflows with the flexibility to customize various finance or invoice management lifecycle processes.
• Enables corporates to perform multiple transactions such as supplier onboarding, bulk uploads, real-time monitoring, which results in improved business efficiency.
• Easily integrates with any third-party applications through Rest APIs, resulting in rapid integration and ease of data consumption. This makes integration of the solution easier and brings seamless service to the corporate customer across Oracle and non-Oracle solutions.

Contact: Brian Pitts - H+K Strategies
P: 312 451 1757 - E: brian.pitts[.]hkstrategies.com.

About Oracle Financial Services

Oracle Financial Services provides solutions for retail banking, corporate banking, payments, asset management, life insurance, annuities and healthcare payers. With our comprehensive set of integrated digital and data platforms, banks and insurers are empowered to deliver next generation financial services. We enable customer-centric transformation, support collaborative innovation and drive efficiency. Our data and analytical platforms help financial institutions drive customer insight, integrate risk and finance, fight financial crime and comply with regulations.

About Oracle

The Oracle Cloud (oracle.com) offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database.

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Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

 
 
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Oracle Banking Tech Helps Corporations Optimize Working Supply Chain Capital

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