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Frequently Asked Questions

Frequently asked questions

This section is designed to answer your questions about UbiQ Innovations, working capital finance, and our OpenSCi product suite.

 

What does UbiQ Innovations do?

We specialize in the field of trade finance, boosting Working Capital through Supply Chain Finance solutions and optimizing company’s cash flows.

  • UbiQ provides working capital optimization solutions, and Supply Chain Finance cloud based platform to thousands of trading partners from across the globe, in over 14 countries and in 17 different currencies. More than 15,000 clients and over 50 funders, including major Banks, use the SCiSupplier of PrimeRevenue product suite on a daily basis.
  • UbiQ platform encompasses different products with a wide range of functionalities, including SCi Supplier allows a buying organization/importer to extend payment terms while offering early payments to suppliers.  SCi Map, ensure the analysis of  a company’s spend and the potential cash flow that can be optimized from within the supply chain, as well as SCi Enable, which onboards suppliers to a supply chain finance program. In terms of financing. 

What is supply chain finance?

Supply Chain Finance is a solution that helps  meet corporate objectives including:  working capital, EBITA, reducing supply chain risks. It allows corporates to increase their payment terms and/or provide the option to their suppliers to get paid early. The low financing fee for early payment paid by the suppliers is based on the credit worthiness of the buying organizations.

How does supply chain finance work?

Supply chain finance gives the option to suppliers to receive early payment based on attractive financing rates, through the leverage of the Anchor Buyer Credit Rating; while it allows a buying organization to optimize its payment terms to its suppliers and improve working capital. 

How does it work?

  • The buyer approves the invoice from the supplier and uploads the information on UbiQ Innovations supply chain finance platform.
  • The supplier is notified of any approved invoice. The supplier has the option to trade his invoices immediately and get early payment or, alternatively, can choose to wait until the invoice is matured.
  • Funder receives and processes early payment requests and provides funding to supplier.
  • At the maturity date of the invoice, the buyer’s is instructed to pay the funder if the supplier has traded invoices.

How does UbiQ Innovations associate with banks?

UbiQ Innovations is an independent Supply Chain Services provider, operated by finance and trade professionals with decades of experience in the Middle East and North Africa & Turkey. UbiQ has developed partnerships with many local, regional, and Global financial institutions to fund short trade finance transaction on its platform.

How can I start selling my invoices?

You should first be a Supplier part of a specific Buyer’s Supply Chain Finance program. The registration process is designed to be quick and easy. On average, companies need 48 hours to register to a supply chain finance program and start selling their invoices for early payment. If your Anchor Buyer doesn’t yet have Supply Chain Finance program, contact UbiQ Innovations to enable your Buyer to offer you such financing possibility.

As a supplier, how fast do I get paid?

Once on boarded onto the platform the funds will be electronically transferred to the supplier’s bank account within a period not exceeding 48 hours. 

Do I have to change the way I invoice today?

The existing process that a supplier performs to invoice the buyer remains in place, no change is required. 

Any software or equipment needed to use supply chain finance?

You don’t need any additional software or equipment as UbiQ will provide you with the platform that operates in the cloud, is available 24 /7 , and does not require any installation.

How secure is Supply Chain Finance platform?

The platform has been approved and is being used by over 50 leading financial institutions, including the largest Global banks. The platform is based on many layers of security, each with its own policies, controls, and monitoring. The strongest security and encryption protocols on all data, activity, and transmissions across the platform are used and optimized frequently. 

Can a supplier decide not to trade on the program?

The supplier is free to elect to trade its receivables if and when needed.

What is the cost or fees charged under a Supply Chain Finance Program?

The supplier only pays a small discount (Financing fee) if he wants to get paid early.

The buyer does not pay a direct fee to extend its payment terms.

What are the benefits for a buyer to implement a supply chain finance program?

  • The buyer can  negotiate extended (Longer) payment terms or price discounts with its suppliers
  • Free-up working capital, optimize cash position and cost base
  • Ensure a healthier balance sheet, while leading to greater reliability and certainty of supply chain
  • Strengthening  long term trading relationships with best suppliers 

What are the benefits for a supplier joining a supply chain finance program?

  • Fast and Easy access to receivables financing without Recourse financing
  • Off-setting debt, resulting in better balance sheet metrics
  • Full visibility of all approved invoices, and cash-Management console functionalities
  • Enhance Supplier trading relationships with best Buyers

What are the benefits for a Financial Institution or a Bank joining supplier finance program?

  • Corporate Banking direct relationship with the buyer/obligor is strengthen.
  • Ensures low-Risk Short trade finance for funders
  • Access to thousands of Suppliers (Small and Medium Enterprises).
  • Offering a fast go-to-market strategy for banks.
  • Full assistance and support to manage financing programs is given.

Interested to learn more?

To obtain more information as either a client or a partner, please contact us today. A UbiQ representative will answer all your questions.

 

 

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