10 Dec KPMG and Taulia partner to help to transform financial supply chains
One of the challenges in making and keeping supply chains efficient is trust – trust between suppliers and buyers, between suppliers and banks and trust of solution providers’ promises. The fact is, there are many costly inefficiencies in supply chains that are sustained because of lack of knowledge and lack of trust. And that’s why I think it’s very good news for Taulia to be announcing their strategic alliance with one of the most respected – and trusted – advisory firms, KPMG.
In announcing their partnership today they are promising to “help the world’s largest organizations transform their financial supply chains to realise savings and improve supplier relations.”
In their joint press release they quote some interesting research from Taulia that found that 47 percent of suppliers are paid late and from KPMG that less than 30 percent of buyers offer a supply chain finance program. As a result, suppliers are waiting longer to be paid without an accessible early payment option.
“Jointly, our studies demonstrate the disconnect that exists in today’s financial supply chains and that effective supply chain management helps organisations accelerate corporate growth strategies, increase operational efficiency, and offer new and differentiated value to their suppliers,” said Samir Khushalani, Practice Leader for Supply Chain and Procurement in the Americas..
The alliance combines KPMG’s globally recognized supply chain and procurement transformation experience with Taulia’s leading suite of technology products to streamline the flow of financial information between buyers and suppliers. The resulting benefits for both buyers and suppliers include significant procure-to-pay operational efficiencies, comprehensive supply chain financing options, and improved trading relationships across the supply chain.
Added Khushalani, “Taulia’s easy-to-use solution for supplier financing, supplier management and eInvoicing, paired with KPMG’s ability to understand the complexities of designing and managing supply chains, creates value and drives innovation for our shared clients.”
“After years of working side-by-side at some of the largest companies in the world, we saw huge upside potential for customers by formalizing our relationship with KPMG,” said Vikas Shah, Taulia’s Vice President of Ecosystem. “Organizations can now combine our eInvoicing and supplier financing platform with KPMG’s experience in invoice-to-pay optimization, technology implementation services, supplier value enablement and onboarding, and supply chain financing strategy.”
The supply chain finance offerings in the market are very diverse from the very large schemes backed by global financial institutions to the smaller specialist – and often very expensive – products. Taulia have set themselves apart from the pack by offering a solution set that offers transparent value to buyers and suppliers. It’s a valuable extra string to the KPMG bow which gives both parties great credibility in the SCF space – credibility that helps to support the trust which is so vital in removing supply chain inefficiencies.
Pete Loughlin can be found on twitter @peteloughlin