ABOUT

VEEFIN is an agile, flexible and integrated software solution which enables banks to create and offer sophisticated supply chain financing services to a range of Corporate clients. We provide banks with end to end sales support in signing up new Corporate and SME clients. This platform is provided on a subscription basis.

FEATURES

SAAS business model

End to end sales support

Easy to use and highly intuitive user interface

Android and iOS Mobile apps for all parties

Built on robust proprietary framework engine of GenX

Provision to add credit limits and sub-limits

Online funding process

Stores all legal documents as electronic data

Notifications, escalations and configurable workflows

mobile

Supports Cross Currency (FX transactions)

Generate web-based Excel or PDF reports

Generate Payment advices/Debit Vouchers

Straight through processing built in

Upload or download bulk data like Invoices, organizations, Payments and Repayments

Integrates with external systems

Strong security controls

Built-in digital signatures algorithm

Scalable across all domains of the supply chain

Supply Chain Finance

Supply Chain Finance Flow chart

There are multiple opportunities for Banks to become involved in the value/supply chains

Definition: Supply Chain Finance (SCF) is defined as “the use of financial instruments, practices and technologies to optimize the management of the working capital and liquidity tied up in supply chain processes for collaborating business partners. Each intervention (finance, risk mitigation or payment) in the financial supply chain is driven by an event in the physical supply chain.

SCF Options are:

  • Purchase order or pre-shipment financing
  • Receivable finance / Invoice discounting
  • Factoring / reverse factoring
  • Buyer / Distributor finance

Benefits

Buyer

  • Ability to extend days payable outstanding
  • Helps in guaranteeing financial health of key suppliers
  • Can bargain for more supplier discounts
  • Ability to use excess cash for paying invoices in advance
  • Cheaper than supplier credit
  • Improves operational efficiency
  • Online interaction with Suppliers to resolve any disputes
  • Streamlines the account payable team

Supplier

  • Access to cheaper source of funds
  • More visible and flexible cash flow
  • Guaranteed on-time payment from bank
  • Does away with bank documentation and visits to the bank
  • Creates a credit track record with the bank to leverage for other banking products
  • Increase internal productivity with timely receivables
  • Strengthen relation with buyers
  • Lower average cost of short term capital

Financial Institution

  • Efficient way of increasing SME customer base
  • Low risk way to increase SME lending book
  • Minimizes fraud
  • Increases Liability float income
  • Increases Fee income from payments and cash handling
  • Improves manpower efficiency and allows scale
  • Brings in stickiness into customer relationships
  • More visibility on funding process
  • Ability to monitor performance of the customers
  • Reduces paperwork
  • Improves Internal process efficiency
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INFO

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ADDRESS

C/504, Neelkanth Business Park, Vidyavihar West, Mumbai - 400086

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PHONE

Gautam Udani
+91-9867287592

© 2020 VEEFIN . ALL RIGHT RESERVED. DEVELOPED BY INFINI SYSTEMS

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