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CGA launches new Supply Chain Finance platform to support business growth for SMEs Print E-mail
Tuesday, 04 March 2014

The platform has been developed in response to heightened awareness of the need for larger corporates to foster economic growth by supporting small and medium-sized companies. The interests of large corporates and their smaller, in some cases international, suppliers are often inextricably linked, and this solution addresses the financing needs of all parties in the supply chain.

For buyers the platform offers:

·        A payment factory option which delivers flexibility of invoice payment and security to buyers’ supply chains,
·        A reporting on the use of the program by their suppliers,
·        Direct cost-savings and productivity gains,
·        The ability to open up the platform to third party financial partners, which may provide additional financing to suppliers.
 
For suppliers, it offers:

·        Optional pre-financing of their invoices, which might otherwise difficult to obtain, through a simple online request process, giving them the necessary liquidity to sustain their business,
·        Off balance sheet accounting treatment which is particularly interesting for the biggest corporates,
·        Flexible and detailed electronic reporting enabling administrative and productivity gains.
 
The SCF platform reflects Societe Generale’s commitment to the growth of its clients, and combines the strength and reach of the Societe Generale network with a state-of-the art technical solution delivering the highest quality offer to its clients.  A number of large corporate clients are already managing their supply chain finance programs through CGA’s platform, with many more major international companies in the pipeline.

(Source - Societe Generale  Press Release)
 

 

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