About
Empowering the Supply Chain, One Invoice at a Time
Innovation presentation
SCF empowers small and medium-sized suppliers by enabling them to access funds before the scheduled payment date of their Approved Payable Invoices, all facilitated through a user-friendly digital platform. Partner companies generate these invoices prior to their payment deadlines, ensuring they are readily accessible to suppliers upon uploading onto the SCF portal. During financial urgency, suppliers can easily initiate early payment requests for their preferred invoice(s) via the portal. Upon selection, RBank promptly disburses the invoice’s value, deducting only necessary processing fees and discounting charges, with the funds instantly deposited into the supplier’s account. This streamlined process ensures suppliers have the financial flexibility they require for their operational needs.
Uniqueness of the project
RBank’s SCF facility is a two-way benefit. It benefits both its partner companies and their suppliers in four key areas: (a) addressing customers’ needs, (b) providing frictionless and fully digital journeys, (c) supporting customers’ growth, and (d) building stronger relationships.
(a) Addressing customers’ needs. RBank caters to the needs of the suppliers by offering immediate access to cash, all while relieving them from the cumbersome process of furnishing extensive documentation and collateral, which suppliers may not possess. RBank also extends highly favorable discount rates that surpass what suppliers could secure independently. For its partner companies, RBank facilitates the extension of payment terms to suppliers without jeopardizing their financial capabilities.
(b) Providing frictionless and fully digital journeys. Notifications are promptly dispatched whenever new invoices are added to the system, ensuring that suppliers remain up-to-date regarding the status of their receivables from partner companies. The process of requesting discounts or crediting proceeds has been streamlined to just three clicks, with real-time crediting. This simplified and efficient access to cash has led to a consistent pattern of suppliers increasingly utilizing the discount feature. Moreover, for partner companies, seamless integration with their existing system allows for the easy generation of disbursement files, optimizing the overall process.
(c) Supporting customers’ growth. SCF plays a pivotal role in fostering the growth of suppliers by furnishing essential funding to bolster their trade engagements with partner companies. Simultaneously, RBank empowers its partner companies to enhance their cash flow and efficiently manage working capital, thus, bolstering their growth and expansion endeavors.
(d) Building stronger relationships. Partner companies can demonstrate their unwavering dedication to their suppliers’ growth and prosperity by proactively addressing suppliers’ pain points through RBank’s support. This approach not only strengthens loyalty but also nurtures enduring, mutually beneficial relationships.
