Oracle helps companies optimise working supply chain capital
With the global pandemic disrupting the entire global supply chain, the need for greater financial agility between buyers and suppliers has come to light. Oracle believes that banks can play an important role in when it comes to supporting and preserving supply chains as well as managing risks.
With this in mind, Oracle Banking Supply Chain Finance offers corporate banks componentized architecture and built-in machine learning (ML) to provide the flexibility needed to optimise working capital and reduce transaction risk.
"Supply chain financing is surpassing traditional trade financing; we saw an opportunity to bring to market a modern solution that can supercharge supply chain financing by leveraging tech innovation. With Oracle Banking Supply Chain's fully digitized processing and real-time analytics, banks can help corporates further optimize working capital and liquidity in their supply chains," said Sonny Singh, executive vice president and general manager, Oracle Financial Services.
Oracle’s solution to digitalise the entire supply chain financing process, gives banks the capability to deliver timely alternative financing options, quicker approvals and access to an omni-channel portal to empower clients with real time visibility. In addition Oracle Banking Supply Chain Finance also provides customers with real-time availability of funds and payment reconciliation that harnesses automation and straight-through processing (STP) of disbursement and liquidation processes.
“Oracle Banking Supply Chain Finance frees banks from legacy monolithic systems by using component-based architecture to create relevant products and services. This allows corporate banks to meet their customers’ unique business and regulatory needs and drastically cut down ‘time-to-market.’ As such, banks can deliver increased value to corporates by optimizing working capital across a wide variety of financing options, including reverse factoring, supplier finance, payable finance, receivable finance and more,” commented in a company statement.
Giving efficiency the full throttle at NASCAR
The NASCAR organization has long been synonymous with speed, agility and innovation. And so by extension, partnerships at NASCAR hold a similar reputation. One such partner for the organization has been CDW – a leading multi-brand provider of information technology solutions to businesses, government, education and healthcare customers in the United States, the United Kingdom and Canada. CDW provides a broad array of products and services ranging from hardware and software to integrated IT solutions such as security cloud hybrid infrastructure and digital experience. Customer need is the driving force at CDW, and the company helps clients by delivering integrated services solutions that maximize their technology investment. So how does CDW help their customers achieve their business goals? Troy Okerberg, Field Sales Manager - North Florida at CDW adds “We strive to provide our customers with full stack expertise, helping them design, orchestrate and manage technologies that drive their business outcomes.”
NASCAR acquired International Speedway Corporation (ISC) in 2019, merging its operations into one, new company moving forward. The merger represents an important step forward for NASCAR as the sport creates a unified vision to embrace its long history of exciting, family-oriented racing experiences while developing strategic growth initiatives that will drive the passion of core fans and attract the next generation of race fans. CDW has been instrumental in bringing the two technology environments together to enable collaboration and efficiency as one organization. Starting with a comprehensive analysis of all of NASCAR’s vendors, CDW created a uniform data platform for the data center environment across the NASCAR-ISC organization. The IT partner has also successfully merged the two native infrastructure systems together, while analyzing, consulting and providing an opportunity to merge Microsoft software licenses as well.
2020 turned into a tactical year for both organizations with the onset of the pandemic and CDW has had to react quickly to the changing scenario. Most of the initial change included building efficiencies around logistics, like equipment needing to be delivered into the hands of end users who switched to a virtual working environment almost overnight. CDW’s distribution team worked tirelessly to ensure that all customers could still access the products that they were purchasing and needed for their organizations throughout the COVID timeframe. Okerberg adds that today, CDW continues to optimize their offering by hyper-localizing resources as well as providing need-based support based on the size and complexity of their accounts. Although CDW still operates remotely, the company commits to adapting to the changing needs of their clients, NASCAR in particular. Apart from the challenges that COVID-19 brought to the organization, another task that CDW had been handed was to identify gaps and duplicates in vendor agreements that the two former single-entity organizations had in place and align them based on services offered. CDW further helps identify and provide the best solution from a consolidation standpoint of both hardware and software clients so that the new merged organization is equipped with the best of what the industry has to offer.