Digital platforms have begun to penetrate industries and alter supply chains. As traditional companies digitise their business models, transactional and financial flows will undergo a paradigm shift impacting treasurers and banks alike. Open Banking is perhaps the symbiotic factor that can level the digital playing field.
Three centuries ago, the industrial revolution marked a fundamental change in mankind’s history; the development of machines surpassed the physical abilities of humans and animals. Today, as the world seeks new fuel for economic growth and inclusive development, technology-enabled business models are re-defining economic activity with great equalising potential for society i.e., crowd-based capitalism, job creation, financial inclusion, remote access to education and healthcare to name a few. This phenomenon will transform corporations and communities over the next decade and perhaps bring about the fourth industrial revolution.
An offshoot of this revolution is the advent of digital platforms. The digitisation of supply chains is impacting business more than any other digital initiative, accounting for up to two-thirds of incumbent companies’ revenue growth, and more than 75% of their profit growth [1] where digital ecosystem reinvention is well strategised and executed. Building a fully digital supply chain often involves the creation of a new ecosystem. This opens the door to a reshuffle of the ways in which value is distributed among various players in the value chain, and will provide companies with new opportunities to create value – such as via new partnerships, revenue/business models and market access.
Fig 1 – Digital platform initiatives in traditional companies Sign up for free to read the full articleRegister Login with LinkedInAlready have an account? Login Download our Free Treasury App for mobile and tablet to read articles – no log in required. Download Version Download VersionRelated Articles
Trade Finance
Agent of ChangeVikram Yadav (BACB) reveals how his department is a vital component in BACB’s support of trade flows to and from Africa and the Middle East.
Trade Finance
Strategies for Resilience and Efficiency in Trade FinanceStrategic foresight and timely intelligence can help corporates and their treasurers to navigate these dynamics amid geopolitical uncertainties.
Trade Finance
Ancient and Ultra-ModernDiscover how close commercial ties in the Middle East and Africa are propelling both regions into a new era of trade.
Trade Finance
Received WisdomInfosys’ Executive Vice President of Finance and BNP Paribas reprisantatives explore the value of a global receivables purchasing facility.
Trade Finance
Embracing Digital Supply Chain ToolsDigitalising supply chains can offer improved operational efficiency and stronger supplier relationships. We find out more.
Trade Finance
Much Ado About SomethingIs digital trade making as much headway as is sometimes suggested? Societe Generale experts provide TMI with essential insight.
Trade Finance
Treasury’s Role in Creating a Digital MarketplaceThis whitepaper outlines the steps corporate treasurers should take to create and support digital marketplaces.
Trade Finance
Entering the Digital and Sustainable World of Trade and Supply Chain FinanceHere, two experts from BNP Paribas explain how banks, fintechs, industry bodies, and corporates, are deploying technology and innovation to overcome SCF obstacles.
Related Standard Chartered Articles
Treasury Strategy & Transformation
Partnering for PaceMichael Spiegel (Standard Chartered) delves into the current pace and delivery to market of innovative solutions.
Treasury Strategy & Transformation
What’s Driving Renewed Interest in Treasury SSCs and RTCs?Today we are seeing a renewed focus on RTCs and SSCs. What is driving this change?
Cash & Liquidity Management
Cutting-Edge Cash ManagementPhilip Panaino (Standard Chartered Bank) shares his insights on contemporary cash management innovations – and how to deploy them to greatest effect.
Treasury Strategy & Transformation
When Smart Treasury Meets the Real EconomyIn the real economy, where trading activities come face to face with real-world pressures, business strategies and models need to evolve sustainably.
|
