Trade finance is the financing of trade between businesses to reduce payment risk. It facilitates domestic transactions as well as imports and exports.
For example, your company may receive a large buy order and need to secure supplies to produce the goods before receiving payment. Trade finance helps you get the funding required to fulfill orders on time.
Automation is essential to trade finance because it reduces the risk of human error, simplifies reporting and compliance, and cuts costs. According to the ICC, close to 80% of trade relies on trade finance. Automation is used for managing documentation, tracking shipments, processing payments, and even extending credit without human error.
Automated trade finance offers businesses the following benefits:
Talk to our specialists to learn how Apruve can reduce fixed credit & A/R costs and team effort by over 50%.
