At Taulia we are striving to change the way that buyers and suppliers do business together, helping each to unlock vital working capital through a technology-led approach to better manage their businesses. On this journey, we are helping large companies achieve levels of connectivity with all their suppliers and accelerate payments that were only previously dreamt of.
Today, we are delighted to share that one of our customers, Vodafone, has been shortlisted for an SCF Award at one of the world’s leading events - The Supply Chain Finance Community Forum.
What is the Supply Chain Finance Community Forum event?
On 8 December 2016, over 200 of Europe's treasurers, procurement directors, banks, technology vendors and academics will gather in Amsterdam, to learn from each other and set out the future of supply chain finance. Now in its fourth year, the Forum has grown to become Europe’s largest supply chain finance event.
What makes this event unique is the way in which a diverse set of stakeholders come together to explore and present ways in which buyers and suppliers can work better together, unlocking much needed working capital, for the benefit of both parties. Topics under discussion include the use of cutting edge technology platforms, modern flexible financing and best practice in change management and supplier enrolment.
Deploying supply chain finance for all suppliers – the Vodafone story
Headlining the event is Vodafone who will be presenting their story about how they have been one of the first companies to seek to deploy supply chain finance for all suppliers. Vodafone’s $10bn supplier financing programme is unique in that it combines unparalleled P2P automation through eInvoicing, a supplier portal and deep ERP integration with the ability for thousands of suppliers to choose to get paid when they want rather than waiting. More than 1,400 suppliers, 64% of those invited, have been onboarded in only nine months. In addition, over 11,000 suppliers are using Taulia’s free-to-use eInvoicing and supplier self-service tools, reducing the time suppliers and Vodafone have to spend dealing with queries. It is the development of programmes like these that are unlocking vital liquidity in supply chains and helping drive the global economic growth.
This year for the first time, the Forum has introduced the SCF Awards to recognise excellence in supplier financing programmes. We are delighted that the Vodafone programme provided by Taulia has been shortlisted for a 'Technology & Telecoms' category award demonstrating its achievement as one of the leading supplier financing programmes worldwide.
World-class supplier onboarding
There has been a step change in the numbers of suppliers that can be on-boarded into SCF programmes. Historically programmes were considered very successful if 50 suppliers could be brought onto a programme in two years. Today, thousands of suppliers are on-boarded in months, with individual sign-up taking as little as a couple of minutes and more akin to signing up for Netflix or using personal online banking. Underpinning this is a technology-led approach that allows programmes to scale and the use of tools like Big Data and Machine Learning to collate information and predict supplier needs and behaviours in order to optimise programmes. Taulia has been selected to be on stage at the Forum to share the latest insights together with live customer examples. During our session, you’ll hear how a technology-led approach enabled Toyota to achieve 92% supplier enrolment and Coca-Cola Refreshments to achieve 83% eInvoicing adoption underpinning successful supplier financing programmes.
Today, a large number of businesses are developing enterprise-wide approaches to optimise working capital, improve yield and streamline operational processes. Alongside these strategies, they are also becoming increasingly aware of the need to support and nurture the health of their supply chains to ensure that they can compete effectively. You can find out how Taulia is supporting over 100 leading global brands to realise these aims by visiting us at the event. Alternatively, you can hear first-hand from companies who have deployed Taulia through this set of customer videos, including the Vodafone story.
The Supply Chain Finance Community is an independent not-for-profit global community consisting of knowledge institutions, corporations, and supply chain finance professionals who share best practice and new research in an open, collaborative environment. It is managed by an executive board consisting of leading professionals and scientists in the field of supply chain finance.
One of the key goals of the forum was to free up €2.5bn in early payments to SMEs to help kick start the Dutch economy. Since its inauguration, however, the community has grown and expanded into new geographies until it is now becoming a global force championing supplier financing and better business.