Dynamic Customer Finance
CORPORATE RECOGNITION AWARDS
Best Supply Chain Solution
Everyone loves a bit of creative collaboration – especially when it helps support supply chains throughout a global pandemic. This is the story behind Borealis’ innovative idea to turn supplier finance on its head, with the support of C2FO. Together, the two companies have created a dynamic customer financing solution that strengthens buyer relationships by accelerating, or extending, timelines for outstanding receivables. This innovation was the hands-down winner of the TMI 2020 Corporate Recognition Award for Best Supply Chain Solution.
The timing for releasing a brand-new solution for supporting buyers to dynamically extend payment terms could not have been more well-orchestrated. Just as Covid-19 was starting to wreak devasting negative impacts on people and businesses, across the globe, Austrian-headquartered chemicals company Borealis was rolling out its innovative dynamic customer finance (DCF) solution, developed in partnership with C2FO.
Nevertheless, the innovation had been incubating pre-pandemic, as Jan-Martin Nufer, Borealis’ Vice President Treasury & Funding, explains. “We had been using C2FO’s dynamic supplier finance capabilities for some time – and were very satisfied with the benefits. Leveraging this success, I was keen to explore a solution that would work in a similar way for customers.”