A Study On Futures And Potions MBA Project Objective is to Some in the banking sector believe that, given the sector’s vast experience in handling and pushing through a mass of data related to payments and other transactions, they are well qualified to provide an outsourced service – where the bank handles the whole data flow between a corporate and its trading partners.
Also, within sectors such as retail, there is a greater degree of focus in ‘dematerialize the paperwork’ and many have signed up with specialist technology partners to electronically manage the flow and reconciliation of the data passing to and from their trading partners. Certainly a bank can replicate some of these aspects. There is no doubt that the information provided is vital to a bank looking to finance at different stages within the financial supply chain. Therefore, banks have, in my view, a responsibility to at least connect or partner with those who are already handling transactional data on behalf of our customers.
Each bank will make up its own mind as to how far it wishes to extend its activities around the managing of data across a supply chain. Some will look to provide a fully outsourced service, managing all the data across the purchase to pay transaction whilst others will look to capitalize on using already managed data, linking into these services to offer financing solutions on the back of these data flows. One of the main considerations for the bank will be whether the customer will be willing to pay for any offered services over and above the financing solutions.
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