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Supply chain finance (SCF) is a large and growing industry. In 2015, a McKinsey report suggested that SCF had a potential global revenue pool of $20 billion, while in 2017 China’s supply chain finance sector was tipped to reach US$2.27 trillion by 2020. Additionally, a 2017 ICC survey of banks in 98 different countries identified SCF as the most important area for development and strategic focus in the coming 12 months.
Clearly supply chain finance is an important topic for anyone involved in trade and trade finance to be familiar with. However, at a recent ICC Academy summit on SCF, several speakers suggested there are still trillions of dollars’ worth of unmet needs in this market.
According to Roberto Azevedo, Director General for the World Trade Organization “A lack of access to trade finance is a barrier preventing small business from making the most of the opportunities that trade provides, and it demands our urgent attention”.
So how can finance and treasury professionals help improve access to finance and keep their own supply chains healthy? As with most challenges, it pays to start with education.
To help trade professionals gain a solid understanding of the different techniques involved in SCF and the benefits for all parties involved, the ICC Academy has put together a comprehensive free guide to supply chain finance using some of the best material from our premium trade finance courses. The guide also includes case studies from real businesses in the SCF industry.
As an exclusive bonus for Global Treasurer readers, you can also learn how corporate treasurers from companies including Rio Tinto and General Mills are managing supply chain finance in the video below. This is a recording of a panel discussion at the ICC Academy’s 2019 Supply Chain Finance Summit in Singapore. In this panel we discuss what the objectives are for corporate treasurers in supply chain finance, and how have things have changed in the recent past including – key factors, considerations, roadblocks, failures and challenges.
Until recently, many of the processes involved in the supply chain have not been seen as part of the treasurer’s remit. However, as the role of the treasurer has evolved away from being focused simply on cash management to become more strategic, the concerns involved in supply chain finance management have moved into the treasurer’s arena.
If you have any further questions about supply chain finance or specifically about the role of treasurers, please get in touch at [email protected] or on Twitter @TheICCAcademy.
About the ICC Academy: The ICC Academy is an e-learning platform brought to you by the International Chamber of Commerce (ICC), the world business organization that has been defining commercial rules for the last 100 years. This unrivalled experience makes us uniquely positioned to help meet the educational needs of banks, corporates and other organisations at the forefront of international trade. We offer e-courses and specialised programmes on trade finance and cross border transactions designed by leading industry experts.