Digital technology helps upgrade supply chain financial services

Issuing time:2023-06-21 11:23

The in-depth combination of supply chain finance and digital technology can effectively solve the problem of information asymmetry among parties in the supply chain, and has a significant effect in meeting the "short-term, frequent and urgent" financing needs of small and micro enterprises. At present, technology companies are relying on their own technological advantages to delve deeply into the field of supply chain finance, and are committed to providing supply chain finance solutions to more financial institutions and promoting the digital transformation of supply chain finance.

Digging deep into the market, all parties are actively making arrangements

With the development of the digital economy, the popularity of supply chain finance continues to rise. In recent years, financial management departments have issued a series of relevant policies to promote the healthy and standardized development of supply chain finance. Market entities related to supply chain finance have used emerging technologies to explore digital supply chain finance. In addition to financial institutions, technology companies have also participated in supply chain finance technology innovation to improve the digital development level of supply chain finance.

It is understood that WeBank, a subsidiary of Tencent, has recently launched the "100 billion plan for all industries" and plans to invest 300 billion yuan in exclusive funds in the next three years to increase the coverage of the supply chain finance industry to 90%; MYBank, a subsidiary of Alibaba, is backed by e-commerce It launches a digital supply chain financial system based on the supply chain relationship between core enterprises and upstream and downstream small and micro enterprises, and digitally solves the problems of small and micro enterprises in supply collection, purchasing and ordering, distribution and collection, franchising, payroll, etc. Credit needs and comprehensive fund management needs for the entire production and operation chain;’s supply chain financial technology is based on years of practice and accumulation, exporting technology to help local governments and large industrial groups build supply chain financial technology platforms and connect financial institutions to solve different problems. The problem of financing difficulties and expensive financing for small and medium-sized enterprises in the industrial supply chain can help enterprises reduce costs and increase efficiency.

In addition, some third-party technology platforms are also actively establishing their presence. "Financial Times" reporters learned that China Enterprise Cloud Chain, a third-party supply chain financial technology platform led by CRRC Group, has created an "N+N+N" supply chain financial platform model, integrating multiple banks and multiple Core enterprises and multiple suppliers are gathered on the platform, which not only helps small and medium-sized enterprises solve the problems of difficult and expensive financing, but also helps large enterprises solve the problems of triangular debt and high liabilities, and smooth the flow of funds in the supply chain. According to statistics, as of June 2021, China Enterprise Cloud Chain has registered more than 100,000 corporate users, and has "transfused" 220 billion yuan for small and medium-sized enterprises.

Smooth credit flow and precise drip irrigation for small and medium-sized enterprises

The supply chain finance model solves the problem of low-cost financing between banks, core enterprises, upstream and downstream suppliers and dealers based on real transaction backgrounds. Its essence is to provide more small and medium-sized enterprises with accurate and effective financial services.

In fact, under the traditional supply chain finance model, it is a common problem that core enterprises have difficulty in confirming their rights. The reason is that a core enterprise may have thousands of suppliers upstream, and it is difficult for the core enterprise to confirm the rights one by one, which makes it difficult for upstream suppliers to obtain financing. In addition, core enterprises are mostly central enterprises, state-owned enterprises, listed companies or leading private enterprises. They have a large amount of low-cost funds and idle credit in banks, which needs to be further revitalized.

Based on this pain point, some technology companies have applied Internet technology to create an "electronic payment commitment letter", which has solved the problem of difficulty in confirming the rights of core enterprises in the traditional supply chain finance industry, further revitalized the idle credit of core enterprises in banks, and used only core enterprises to The low financing costs that can be enjoyed are transmitted to suppliers at all levels in the industry chain, thereby solving the financing difficulties of small and medium-sized enterprises at the end of the industry chain.

Industry insiders believe that after digitizing accounts receivable, real and visible trade scenarios can help banks better enter the industrial chain, allowing low-cost bank funds to replace high-cost private funds and bring real benefits to small and medium-sized enterprises. Affordable.

It is understood that as of September 2021, the rights confirmation of "Yunxin" under China Enterprise Cloud Chain has exceeded 400 billion yuan, an increase of nearly 200% compared with the same period in 2020. Among the more than 90,000 enterprises served, it has fully covered all walks of life related to the development of the national economy and people's livelihood, such as manufacturing, infrastructure, energy, wholesale and retail, logistics, education, and municipal public services. More than 90% of them are small and medium-sized enterprises.

Empowering organizations to improve supply chain operation efficiency

In fact, technology companies often play the role of bottom-level service providers in the supply chain financial ecosystem. Using technology services as the entry point, they solve the financing problems of small and medium-sized enterprises by connecting core enterprises, small and medium-sized enterprises and financial institutions in the chain.

With the support of technological capabilities, the digital supply chain ecosystem built by technology companies can interconnect information flow, capital flow, business flow, and logistics. The core enterprise side can optimize the information flow through chains and data, and strengthen the control of the supply chain; chain suppliers can use chains or tickets to obtain corporate qualifications and obtain financing at a lower cost; financial institutions can improve their risk management. control efficiency and overall service capabilities, thereby improving the operating efficiency of the entire supply chain financial ecosystem.

On the capital side, technology companies cooperate with financial institutions such as banks, finance companies, and factoring companies to quickly respond to the comprehensive needs of enterprises in the industry chain through professional information platforms and risk assessment systems, thereby broadening the scope of financial services. The organization’s service scope and improve service efficiency.

It is understood that there are already financial technology platforms that have achieved total integration with more than 100 banks across the country, and more than 1,000 branches across the country, and have maintained long-term cooperation with many financial companies, factoring companies, securities firms and other financial institutions, relying on shared common knowledge. The service team helps enterprises and financial institutions share platforms, backends, marketing, and financial services to build a "one-stop" industry and finance shared service platform.

Industry experts said that by building a supply chain financial ecosystem, taking data-enabled industrial chains and scenarios as the entry point, and integrating resources and optimizing the value chain from the perspective of the entire industry chain, enterprises can reduce production and operation costs, improve capital use efficiency, and achieve Optimal allocation of resources.

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