BofA Merrill Unveils Supply Chain Module on Electronic Platform
Bank of America Merrill Lynch (BofA Merrill), a provider of global transaction services, has unveiled its online supply chain finance module available on Trade Pro. Launched in March this year, Trade Pro is the trade processing application within CashPro Online, the online banking channel for corporate clients. The new module, Trade Pro Supply Chain Finance (SCF), offers buyers and suppliers around the world a collaborative tool and leading-edge technology to manage risk while freeing up working capital, streamlining business processes and reducing the costs associated with supply chain management.
A key feature of Trade Pro SCF includes an improved user interface, enabling immediate access to critical supply chain finance data that will aid companies in decision making and auditing. The module, which is available in nine languages, offers robust online reporting, allowing suppliers to create dynamic reports on a scheduled or ad hoc basis.
“The release of the new supply chain finance capabilities is an exciting development of our Trade Pro application,” said Bruce Proctor, head of global trade and SCF at the bank. “The new module will help our buyer clients and their suppliers efficiently manage their cash flow by allowing faster access to funds and information, which will ultimately assist them in optimising their working capital.”