A successful finance program is one that can integrate ERP data with a supply chain finance platform. While it seems straightforward, this requirement can be a complex challenge to master. Most platform providers offer some form of integration with ERP, and this progress is welcomed. However, these platforms are often limited in their ability to streamline integration with payments or with other supply chain finance participants such as banks or insurance companies. Something is missing in traditional platforms and systems, though, and this missing link in supply chain finance has only emerged in recent years, often shrouded in mystery or murky cryptocurrency promises – blockchain technology.
When it comes to supply chain finance, most believe that key to success is the choice of technology or transaction platform. This is not entirely true.