Electronic Data Interchange (EDI), defined as the structured transmission of data between organizations by electronic means, has been around since the early to mid-1980s and has seen steady progress over those decades in improving automation of the physical supply chain. In contrast, the automation of the financial supply chain has only seen progress in more recent years with the emergence of Supply Chain Finance (SCF) services delivering quantitative benefits to market participants.
Corporate ERP systems are being connected to networks, trade documents can be exchanged automatically and can trigger financial processes – new counterparties and service providers can enter the cycle as the paper based status quo is confronted for its fit to today’s online, globally shrunk and transparent world.
The challenge is how to enable your organization to become part of this SCF automation revolution so you can take advantage of both the cost and risk reducing opportunities provided.
As the Supply Chain Finance (SCF) suite, Volante plug-in components allow the rapid take-on of new message standards and processing including, but not limited to, all Bank Payment Obligation (BPO) related standards, all ISO 20022 payments standards, all SWIFT MT standards and all SWIFT TSU message standards.