Standard Chartered and Infor announce strategic agreement
Standard Chartered and Infor has announced a strategic agreement to introduce the Infor Nexus network to the bank’s clients.
What is Infor Nexus?
Infor Nexus is the world’s leading network for multi-enterprise supply chain orchestration. The network connects businesses to their entire supply chain network - from suppliers, manufacturers, brokers, 3PLs and banks - which allows for enhanced supply chain visibility, collaboration and predictive intelligence. As the only network of its type, Infor Nexus merges physical and financial supply chain processes to create a unified, cloud-based platform.
Infor Nexus is recognised in the leader’s quadrant of Gartner’s “Magic Quadrant for Multienterprise Supply Chain Business Networks” report. In the report, Gartner said: “Collecting data and sensing signals in real time, and then coordinating, executing and resolving issues quickly, will allow for companies to operate their supply chains more effectively.”
Infor Supply Chain Virtual Summit: connecting the supply chain
What does this agreement mean?
The deal will see Standard Chartered refer clients to Infor and its network based on specific needs. This will enable benefit from automated matching and digitised documentation and processes delivered on Infor’s network of 65,000 businesses worldwide.
Michael Sugirin, global head of open account trade product management at Standard Chartered, commented: “As our client’s trusted banking partner, our goal is to support them in their digitalisation journey through expediting their payables acceptance and facilitating export proceeds, and as a result improve their working capital cycles. We are excited to have this introduction agreement in place with Infor, whose platform offering not only fits well with our emerging markets footprint, which generates significant trade documents flows, but also shares a similar commitment in supporting the development of sustainable, intelligent supply chains.”
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