UniCredit’s Thomas Dusch explores the impact of COVID-19 on supply chains in Global Finance
June 26, 2020
Lockdown has brought the global economy to a grinding halt — disrupting cash flows and triggering a liquidity crisis.
In an article for Global Finance, UniCredit’s Deputy Head of Global Transaction Banking, Thomas Dusch, argues that once payables and receivables stocks pick up again, banks will be able to step in and plug the liquidity gap with traditional financing tools, such reverse factoring.
In the meantime, however, UniCredit can help buyers support their suppliers through its web-based dynamic discounting tool, offered in partnership with specialist fintech FinDynamic, which enables suppliers to submit invoices for early payment in exchange for a scaled discount, and buyers to select which invoices they would like to approve. This is a highly valuable tool now that most treasury departments must handle their business remotely.
To read the full article, click here.
TAGS: Financial Services