Creating Opportunities for Competitive Advantage
Joined Up Processing - Creating an Integrated Approach to Financial Processing
Gregory Cronie, ING Wholesale Banking, Payments and Cash Management Sales
In the earlier parts of this special Guide to Financial Supply Chain Optimisation, brought to you by ING, we have explored the elements which comprise the financial supply chain, from order to cash to purchase to pay, including both trade and cash. We have also considered various ways of leveraging financial assets such as purchase orders and receivables. In the final part of the Guide, we consider some of the opportunities to reduce costs and enhance efficiency in the financial supply chain further. Firstly, we review how corporate-to-bank connectivity has evolved in recent years, and how new initiatives, such as SWIFT Corporate Access can augment a financial supply chain strategy. Similarly, with the Single Euro Payments Area (SEPA) now a reality, Sander Cok explains how SEPA migration will support corporate financial supply chain projects.
As we have outlined during the Guide, an optimised financial supply chain requires efficient internal processes, effective collaboration with financial partners, the right liquidity structures and the use of appropriate financing techniques. However, another crucial element in the success of virtually every initiative relating to the financial supply chain is the involvement of a banking partner which is committed to financial supply chain solutions. To illustrate this in more detail, we are delighted to present an interview with Robert Heisterborg, Global Head of Payments and Cash Management at ING.