In October 2021, HBSC held a virtual roadshow to highlight HSFC’s capabilities, with a focus on the successful collaboration with Unilever. The event was attended by 18 suppliers.
As an automated solution, the electronic platform digitises the end-to-end process of financing the invoices of suppliers, requiring no manual intervention from the approval of the invoices to crediting the proceeds to a recipient’s account. It also centralises financial supply chain data, which not only provides high levels of visibility, but also reduces manual errors, and provides quick and timely updates.
HSCF is particularly well suited for Unilever’s SME suppliers who are reliant on less cost-effective unstructured lending programmes. When using the platform, they do not need to set up a credit limit or change their current banking providers to receive improved financing terms. After Unilever started using HSFC, its average asset utilisation grew by 46% over the last year.