Bolero International, HSBC and Home Depot, have jointly won a GTR Best Deals 2018 award for their innovative implementation of a matched purchased order supply chain financing solution.
The award, made by the editorial team of GTR, recognised the deal as one of the best over the previous 12 months and follows its recognition as best supply chain finance strategy in theCorporate Treasurer (CT) awards for Asia’s Best Treasury and Finance Strategies of 2017.
HSBC, the world’s leading trade bank, last year introduced its Matched electronic Purchase Order (Me-PO) financing solution, developed by Bolero, to dramatically improve the release of working capital. Impressed with the operation of the platform, one of the giants of US retail, the DIY chain Home Depot, adopted Me-PO for its global trade operations, speeding up the working capital cycle and making their processes more efficient.
Me-PO introduces significant benefits to the global supply chain, removing the pain associated with time-consuming, manual, paper-based processing. It reduces the cost of processing for invoices and purchase orders exchanged between HSBC business customers and their suppliers, who benefit from being able to make earlier requests for finance.
Purchase orders and invoices can be automatically validated, processed, matched and approved. This facilitates a rapid approvals process and enables sellers to submit funding requests more quickly than with a conventional paper-based system. A new level of visibility also enables all parties to track and monitor their purchase orders and invoices in real time.