Gresham Extends Clareti Cash Reporting Service to Support Supply Chain Financing; C&W Signs up as First Customer.LONDON -- Gresham Computing computing - computer plc, the real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. financial solutions specialist has extended its Clareti Cash Reporting Service to enable supply chain financing. Cable and Wireless, which provides the secure hosting for the service, has also confirmed it is the first customer for Gresham's new supply chain financing solution.Building on Gresham's Clareti Cash Reporting Service, which enables banks and their corporate customers to gain visibility of their global payments in real-time, this innovative service extension enables suppliers to see what future payment commitments have been made by their customers and, if available, request early payment for a discount. From core supply chain and payment information provided by the buyer of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , the supplier will have clarity and confirmation of the status of monies due to them. Should the supplier desire early payment, they will be able to request this at the click of a mouse button. Gresham's Clareti service has clear benefits for both suppliers and buyers by consolidating and automating the financial supply chain. It improves visibility over buyer-approved payments to the supplier, releasing working capital on demand and gives buyers greater flexibility, cost savings and greater control over supplier payments. "The amount of cash tied up in post dispute invoice An itemized statement or written account of goods sent to a purchaser or consignee by a vendor that indicates the quantity and price of each piece of merchandise shipped. A consular invoice is one used in foreign trade. working capital in the UK alone exceeds [pounds sterling]76 billion," said Andrew Walton-Green, chief executive of Gresham Computing plc. "The majority of companies want to collect their debts quickly and pay their creditors slowly. As a result, businesses at the bottom of the supply chain and many of the companies in the middle end up being squeezed for cash. "Over a third of European businesses use some form of funding for trade finance; a route which is often restrictive, cumbersome cum·ber·some adj. 1. Difficult to handle because of weight or bulk. See Synonyms at heavy. 2. Troublesome or onerous. cum and expensive. Unlocking the financial supply chain represents a huge market opportunity. Even just knowing when you are going to get paid is a huge step forward and enables a supplier to better manage its cash flows." Cable & Wireless UK (spanning Europe, Asia and US) will both host the service and be the first customer for the new service. Ivan Gunatilleke, Director of Enterprise Markets at Cable & Wireless, commented: "Our mission is to provide excellent levels of service to our top end corporate customers. This is a great endorsement of the robustness of our hosting and security services Security services are state institutions for the provision of intelligence, primarily of a strategic nature, but also including protective security intelligence. Examples include the Security Service (MI5) and the Secret Intelligence Service (MI6) in the United Kingdom, and the and means we can offer an even richer portfolio of services to our customers." About Gresham Computing plc Gresham Computing specialises in delivering real-time financial solutions. Gresham develops and implements software solutions for banks and corporates, as well as integration and storage solutions. Many of the Global 500 choose Gresham to help improve their competitive edge and bottom line performance in some of the most challenging market sectors. Gresham Computing plc is listed on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. (GHT GHT George House Trust (UK) GHT Growth Hormone Therapy GHT Geographic Hash Table GHT Garden Hose Thread (thread type) GHT Gresham Computing PLC (stock symbol) ) and has offices in Europe, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Asia Pacific. For more information, please visit www.gresham-computing.com. |
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