Supply Chain Finance for FirstRand Suppliers

We understand that positive cash flow is the single most critical factor to ensure your business’ prosperity and sustainability.

FNB has partnered with RMB to offer you a market-leading, first-of-its-kind, cost-effective Supply Chain Finance (SCF) solution. This solution gives you the option to be paid earlier than your normal payment terms – all at the click of a button.

RMB and FNB, divisions of FirstRand Bank Limited, are the first in the banking sector to bring this product to its suppliers. This solution will help you maintain your liquidity position to help meet your everyday business needs, cut back on bank debt all the while growing your business. FirstRand has entered into a partnership with a Fin Tech service provider, Addendum, to bring you this innovative solution through an award winning technological platform.

At RMB and FNB we are passionate about solving problems for our clients by asking the hard questions. We challenge accepted thinking. We analyse and seek solutions beyond the obvious.

We are innovative in our thinking and turn challenges into opportunities. We call ourselves Solutionist Thinkers who deliver on Traditional Values with Innovative Ideas.

Our Supply Chain Finance Solution is an easy to use, affordable, cloud-based solution to assist you as a supplier, with receiving prompt payment for invoices issued to FirstRand Bank Limited.

This easy to use platform provides you with a tool to sell your receivables to the bank on day one and to be settled on day two on a non-recourse basis. It couldn’t be easier!

Benefits include:

• Access to funding lines without incurring debt
• Increased cash, reduced debtors and shortening of your working capital cycle
• Current invoicing process remains unchanged
• Process is fully automated
• Transactions are done at the click of a button
• Use of best-in-class technology
• The ability to view approved invoices earlier in the process
• Transparent calculation of each transaction’s cost
• Lower collection cost
• Platform can be set up to discount invoices automatically as they become available

The simple process is shown in the following four easy steps. You will receive training on how to use the platform and can then choose whether to discount your invoices to receive payment earlier or not.

For more information on the platform please contact Addendum:

• +27 21 940 8380
• scfsupport@addendum.co.za

For more information on the product please contact RMB: