- Taulia and Standard Chartered signed a Memorandum of Understanding to collaborate on working capital finance solutions.
- The partnership will initially focus on supply chain finance and dynamic discounting.
- The agreement will offer Taulia access to Standard Chartered’s global client base.
Supply chain finance company Taulia has inked an agreement with Standard Chartered this week. The agreement comes in the form of a Memorandum of Understanding (MoU) to collaborate across a range of working capital finance solutions.
The two will begin by focusing on supply chain finance and dynamic discounting, two solutions that Taulia offers to buyers. Taulia will use its expertise in this area, combined with Standard Chartered’s global client base, to help clients build a more resilient and sustainable supply chain.
Ultimately, the partnership aims to enable suppliers to access working capital in a more efficient and cost effective manner.
“We are excited to work with Taulia to explore new and innovative ways to support our clients’ working capital needs, as well as extending the Bank’s leading sustainable trade expertise into their business network,” said Standard Chartered Global Head of Trade & Working Capital Kai Fehr. “Taulia’s footprint also complements that of the Bank, offering greater opportunities for us to support companies in the West with their supply chain flows into Asia, Africa and the Middle East.”
Taulia was founded in 2009 to help businesses improve their supply chains by providing financing options with flexible payment terms. Used by a network of two million organizations, the company’s tools help businesses accelerate payments and free up working capital. Taulia processes over $500 billion every year. Among Taulia’s clients are Airbus, AstraZeneca, Nissan and Vodafone.
Taulia was acquired by SAP earlier this year and today’s agreement marks the first MoU that Taulia has signed with a banking institution post-acquisition. Taulia anticipates that having the backing of SAP will help it access further opportunities across SAP’s ecosystem and deliver a differentiated experience for both buyers and suppliers.
“We believe that all CFOs should focus on their cash strategy to ensure growth during these turbulent times and our partnership with Standard Chartered will deliver cash when and where it is needed, especially in emerging markets,” said SAP Head of Working Capital Management CoE and member of the Taulia Leadership Team Thomas Mehlkopf.
Go to Publisher: Finovate
Author: Julie Muhn (@julieschicktanz)