27th Mar 2007 07:00
Gresham Computing plc, the real-time financial solutionsspecialist has extended its Clareti Cash Reporting Service to enablesupply chain financing. Cable and Wireless, which provides the securehosting for the service, has also confirmed it is the first customerfor Gresham's new supply chain financing solution. £ Building on Gresham's Clareti Cash Reporting Service, whichenables banks and their corporate customers to gain visibility oftheir global payments in real-time, this innovative service extensionenables suppliers to see what future payment commitments have beenmade by their customers and, if available, request early payment for adiscount. £ From core supply chain and payment information provided by thebuyer of goods and services, the supplier will have clarity andconfirmation of the status of monies due to them. Should the supplierdesire early payment, they will be able to request this at the clickof a mouse button. £ Gresham's Clareti service has clear benefits for both suppliersand buyers by consolidating and automating the financial supply chain.It improves visibility over buyer-approved payments to the supplier,releasing working capital on demand and gives buyers greaterflexibility, cost savings and greater control over supplier payments. £ "The amount of cash tied up in post dispute invoice workingcapital in the UK alone exceeds GBP 76 billion," said AndrewWalton-Green, chief executive of Gresham Computing plc. "The majorityof companies want to collect their debts quickly and pay theircreditors slowly. As a result, businesses at the bottom of the supplychain and many of the companies in the middle end up being squeezedfor cash. £ "Over a third of European businesses use some form of funding fortrade finance; a route which is often restrictive, cumbersome andexpensive. Unlocking the financial supply chain represents a hugemarket opportunity. Even just knowing when you are going to get paidis a huge step forward and enables a supplier to better manage itscash flows." £ Cable & Wireless UK (spanning Europe, Asia and US) will both hostthe service and be the first customer for the new service. £ Ivan Gunatilleke, Director of Enterprise Markets at Cable &Wireless, commented: "Our mission is to provide excellent levels ofservice to our top end corporate customers. This is a greatendorsement of the robustness of our hosting and security services andmeans we can offer an even richer portfolio of services to ourcustomers." £ About Gresham Computing plc £ Gresham Computing specialises in delivering real-time financialsolutions. Gresham develops and implements software solutions forbanks and corporates, as well as integration and storage solutions.Many of the Global 500 choose Gresham to help improve theircompetitive edge and bottom line performance in some of the mostchallenging market sectors. Gresham Computing plc is listed on theLondon Stock Exchange (GHT) and has offices in Europe, North Americaand Asia Pacific. For more information, please visitwww.gresham-computing.com. Copyright Business Wire 2007Related Shares:
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