Growing demand for liquidity and timely payment across the supply chain is driving record interest in alternative financing solutions. Companies are looking for ways to monetize their liquid assets and unlock cash trapped in the financial supply chain. One option is accounts receivable finance, which allows companies to sell their invoices to financial institutions for faster payment.
The European Banking Authority (EBA) will begin requiring companies that provide loans in the region to follow a single definition for default this year, after it saw high variances in the ways they contend with basic banking issues, Bloomberg noted.
Singapore is continuing its drive to promote e-invoicing with the aim of helping companies improve efficiency, reduce costs, streamline payment cycles and minimize environmental impact.