The Dubai government-owned bank and one of the largest banking groups in the Middle East, Emirates NBD has onboarded Middle East grocery retailer and food distributor T. Choithram & Sons to start the bank’s smartSCF digital supply Chain Financing platform.
The bank’s smartSCF platform helps the supply chain management and financing company’s need for digitisation, which has emerged as one of the key priorities for corporate clients across industries.
With the current smartSCF platform, Choitrams will digitise its payable process across the region which will in-turn improve cash flow and working capital efficiencies.
The enhanced data analytics tools of smartSCF such as interactive dashboards and customised reports will help Choitharams to gain visibility across the supply chain process.
The suppliers of Choitram will now be able to self-onboard via the platform’s digital supplier on- boarding toolkit.
The Senior Executive Vice President and Group Head, Corporate and Institutional Banking, Emirates NBD, Ahmed Al Qassim, said:
“We are delighted to onboard Choithrams to our digital supply chain platform that will help increase operational efficiencies for their retail operations and their suppliers, while optimising their working capital,”
“smartSCF provides ecosystem financing by infusing liquidity in the physical supply chain of UAE corporates. Developed to meet the growing need for more integrated and automated tools, smartSCF is one of the few Supply Chain platforms that offers simplified digital onboarding making it easier for corporate buyers to extend the facility to a large number of suppliers.
The Chief Financial Officer at T. Choithram & Sons, Abhishek Mundra, said:
“The past year, in particular, has greatly driven us to look at ways to optimise operational and working capital efficiencies, while continuing to scale our business and supplier base,”
“We are excited to make the move to digitise our supply chain finance processes and look forward to reaping the many potential benefits of such enhanced visibility.”
