Mumbai, September 6, 2011: In its focus on further strengthening its relationship with the Indian Corporates, SBI has put in place a state of the art technology platform for financing their supply chain partners. The platform leverages the highly secure internet banking platform of SBI and provides a robust and operationally convenient platform to the industry majors for transacting with their channel partners.
The platform is web based and is capable of being fully integrate with Corporate Enterprise Resource Planning software, thereby dispensing with paper work. A Corporate can upload the details of invoices raised by their suppliers and the details of invoices covering the supplies made to the dealers on SBI internet banking platform, effecting real time of transfer and automated settlement of funds.
The platform provides for both the vendor financing (e-Vendor Finance Scheme) and dealer financing (e-Dealer Finance Scheme). To date 43 industry majors from sectors like auto (passenger cars, commercial vehicles and tractors), petroleum and oil, steel, fertilizer, textiles and FMCG are using this platform for transacting with their vendors and dealers.