Today in B2B payments, XPO and Google Cloud speed up supply chain movement, while KredX and Tradewind team up on supply chain financing. Plus, Egyptian eCommerce shipping company ShipBlu is partnering with location technology company what3words.
XPO, Google Cloud Team to Create Faster Supply Chains
B2B freight transportation services company XPO Logistics and Google Cloud have partnered on a multi-year deal to “further innovate how goods move through supply chains,” according to a Monday (June 6) joint press release.
XPO will use Google Cloud’s expertise in artificial intelligence (AI), machine learning (ML) and data analytics to build “faster, more efficient supply chains with greater visibility,” the announcement said. The company moved several key applications to Google Cloud that will allow the transportation services provider to access the scalability and availability of cloud computing.
Google Cloud’s data analytics, AI and ML tools help XPO share insights with its operators, including product managers, demand planners, route planners and data analysts.
TransferMate Founder Sees Stablecoins as B2B X-Border Payments Future
Today, about 98% of all cross-border business payments are managed through the SWIFT banking system, which enables the execution of payment transaction flows between financial institutions and banks worldwide.
But according to Terry Clune, founder and chairman of TransferMate, sticking to a decades-old cross-border payment system that is slow and subject to long delays is no longer an option for businesses looking for faster, cheaper and more convenient solutions to make international transactions.
It’s a challenge the B2B payments infrastructure firm is looking to solve, enabling organizations, financial institutions and businesses like the Haas Formula 1 racing team and Uber to transfer money internationally using a faster, more efficient and cost-effective application programming interface (API) solution than SWIFT.
Egyptian B2B eCommerce Shipper ShipBlu Partners With Location Tech Provider What3words
Egyptian eCommerce shipping company ShipBlu is partnering with what3words, a location technology company, to help ensure shipping accuracy and efficiency, the companies announced in a press release Sunday (June 5).
The partnership will see shoppers able to provide their what3words address at checkout. Per the release, this will cut out the need for phone calls asking for addresses or “nearby landmarks” to assess the accuracy of a shipment, allowing customers to do things faster and more efficiently.
ShipBlu will also be able to cut the total daily travel time for couriers and allow for cutting vehicle emissions and improving traffic in Egypt. The release said ShipBlu wants to become Egypt’s greenest logistics platform.
B2B Online Marketplace SAFQAT to Open in UAE
Online B2B marketplace SAFQAT is working to improve wholesale buying and will be launching its solution in the United Arab Emirates (UAE). SAFQAT will replace one-on-one interactions with a “one-to-many” model, which reinforces a connection between supplier and buyers. Its goal is to help suppliers reach caterers, supermarkets and grocery stores in a more streamlined manner, making business easier.
The company will also let members try products before they finalize an order, which the release claims is “mimicking the advantage of a conventional purchase process.”
Khaled AlShanqiti, CEO and co-founder of SAFQAT, said the company had seen issues in the supply chain management faced by buyers and suppliers. The food and beverage industry often sees volatility, with product costs often rising or becoming available at a sudden pace. SAFQAT wanted to be an antidote to that and offer “a quick, transparent, fully digitized buying and selling experience to ensure optimal supply-chain management in good and bad times.”
KredX, Tradewind Team on Supply Chain Financing
Indian supply chain finance platform KredX is working with Tradewind Finance to help provide financing for international business, exports and imports, the companies announced Friday (June 3).
KredX previously revealed its “in principle” approval by the International Financial Services Centres Authority (IFSCA) in order to offer a platform for Indian companies to transact and raise financing for exports and imports.
This will help KredX extend its expertise in offering customers financing solutions. The Tradewind partnership will reportedly allow more “transparent, competitive, reliable” funding options for Indian corporates looking to work internationally. KredX will also help Tradewind with firmographics and business intelligence, per the release, strengthening lenders’ relationships with Indian exporters.
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