November 06, 2019

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Mastercard partners with OpenText to increase financial efficiencies in the supply chain | Technology

Mastercard partners with OpenText to increase financial efficiencies in the supply chain | Technology

Global funds know-how big Mastercard introduced in the present day that it’s partnering with Ontario-based Enterprise Operations Management agency OpenText. The two companies will, in accordance to a press launch, collaborate on advancing a related and scalable digital ecosystem, permitting firms no matter measurement, location or technical functionality to construct elevated belief and safety into buying and selling companion relationships.

The new resolution from the two firms will reportedly increase the pace, compliance and safety for enterprise info, funds and financing in the automotive supply chain. 

Designed to facilitate built-in funds and to improve the administration of vendor grasp knowledge, enabling suppliers to higher handle danger for commerce finance, speed up money move for excellent invoices and safe financial transactions with enhanced digital id, the resolution is meant to drive dramatic efficiencies in throughout finish to finish procure-to-pay networks.  

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“Digitizing and simplifying supply chain related finance processes can ease global trading operations across industries and unlock opportunities for suppliers at every level to do business with enterprise buyers more efficiently,” mentioned Claire Thompson, Executive Vice President of Enterprise Partnerships at Mastercard. “We are excited OpenText is partnering with Mastercard to integrate our digital platforms together to allow companies to quickly identify and vet business relationships and make the end-to-end payments process even simpler.”  

“High performance supply chains build agility and flexibility into production and fulfillment,” mentioned Mark J. Barrenechea, OpenText CEO & CTO. “This calls for the digitization of processes across the network. OpenText is pleased to partner with Mastercard to help automotive enterprises transform finance related information flows, eliminate friction in the trading process and conduct mutually beneficial transactions with the right suppliers at the right time to meet and exceed production goals.”

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