Supply Chain Finance Process Automation Software

Streamline and digitize the supply chain finance process with Newgen’s Supply Chain Finance (SCF) Suite, built on our low code digital transformation platform. By leveraging the solution, banks can easily onboard new customers by capturing borrower/debtor details, ensuring KYC, pre-screening applications, and setting limits. The user-friendly interface of the solution allows customers to transition easily between buyer and seller roles. Bank users can leverage the sophisticated and intuitive interface to automate tracking, messaging, and onboarding through simple workflows.

Features of Newgen’s Supply Chain Finance Software

Digital Mapping & Product Set-up

Onboard/map the anchor (buyers/suppliers) and spoke (counterparties) details such as company name, communication address, UBO details, nature of business, banking details, limit details, etc. Create and manage product IDs for offerings like invoice discounting and reverse factoring. Establish specific parameters and guidelines such as min/max discounting, allowed currency (CCY), min/max tenor, disbursement and settlement conditions, interest collection method, and more.

Relationship ID Set-up & Customer Self-service Portal

Define product parameters specific to large corporates and create and maintain unique relationship ID (every anchor is mapped to Spoke, and the pricing is defined to eliminate manual processing). Get complete automation of the onboarding process through multiple channels, including self-service portal. Enable proactive due diligence and compliance with onboard suppliers quickly and efficiently.

Digitized Supply Chain Finance and Document Management

Ensure faster search for scanned documents, providing ready access to digitized data with AI-based OCR (Optical Character Recognition) technology. Allow easy online access to real-time data and document images with side-by-side imager. Get access to an intuitive platform that allows easy annotation and document correctness in real time.

Straight-through-processing

Automate end-to-end processes to ensure the transactions are handled quickly and accurately. Improve the efficiency and speed of the supply chain finance process through straight-through processing (STP). Enable contextual transaction processing basis the unique product/program/relationship ID. Get auto-processed transactions based on predefined parameters.

Easy Configurability with APIs

Integrate other systems and technologies via Application Programming Interface (APIs) that make the solution nimble and capable of supporting any third-party applications. Enable ‘automated settlement’ to automate send payment instructions—built on Hyperledger Fabric—for code-backed smart contracts. Ensure out-of-the-box integration adapters for advanced technologies like blockchain, AI-powered platforms, and cloud-based systems.

Covers All Entities, Platforms, and Geographies

Support vendor financing, dealer financing, receivable financing/factoring, reverse factoring, marketplace, and onboarding. Configure workflows, dashboards, and workload balancing features that allow banks to deploy a global finance hub that is compliant with regional domestic regulations. Streamline supply chain finance transactions with configurable functionalities specific to major markets. Enable banks to focus on expansion, fine-tune the product to country-specific nuances, and reduce the time to market, both locally and globally.

Support for Buyers and Sellers

Enable buyers to strengthen relationships with suppliers (all users on the platform get a ‘Know Your Customer’ status). Reduce working capital requirements for buyers and real-time settlement for all parties that can result in financial stability in the supply chain. Ensure the sellers achieve lower capital costs through a faster collection of sales. Streamline payment and invoice processes with event-based automatic payment trigger through smart contracts. Get flexible multi-currency and multi-bank capabilities and improved visibility across the financial supply chain, allowing parties to make more informed decisions.

Support for Financial Institutions

Manage payment terms easily to generate fee income. Enhance operational efficiencies through integration with business-critical 3rd party systems and option for managed cloud service or on-premises. Increase bottom line and improve overall business performance by accessing new revenue streams. Fast-track the supply chain finance process with straight-through processing of applications. Enable auto-trigger of alerts and reminders to internal and external customers. Get template-based communication to customers at strategic intervals. Monitor performance for bank users and corporate customers on the portal with interactive dashboard and reports. Define exception and approval matrix in the system.