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.”
Sign up for free to read the full articleRegister Login with LinkedIn
Already have an account?Login
Download our Free Treasury App for mobile and tablet to read articles – no log in required.Download Version Download Version