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Industry roundup: 27 May

BNP Paribas digitises pre-trade client workflows

Real-time data sharing and workflow platform ipushpull has announced that BNP Paribas has implemented PPQ standardised messaging to streamline its manual workflow around non-standard, complex trades, for their global asset manager community. PPQ has been designed to deliver enhanced efficiency, reduce operational and compliance risk and support trade negotiation.

Buy-side firms have long highlighted the gap in the market for a way of digitising complex transactions between asset managers and sell side firms. For example, liability driven investment (LDI) trading and other complex workflows require a combination of digital and voice trading interactions in addition to tasks performed using chat, email and Excel spreadsheets. This also includes the need to streamline manual processes and operational risk associated with emails, file sharing and copy-paste, as well as providing quick and efficient responses.

PPQ is a pre-trade syntax that standardises and facilitates the negotiation process between the buy and sell side through a set of integrated data sharing and data-driven tools. It uses financial networks like Symphony to deliver the standardised syntax within private bilateral chats to allow trading and sales to communicate detailed information.

Chatbots can interpret key data within those messages, display them within a custom application and allow the end user to drive the workflow from a single screen. Data mapping transforms incoming and outgoing data into the required format, creating an extensible solution to interoperate between new and existing standards. The inclusion of structured data objects within messages, containing instrument definitions, event descriptions and a wealth of other metadata, can further aid automation of pre-trade workflow.

 

CoEnterprise releases new functionality aimed at improving supply chain performance

CoEnterprise, an enterprise software and services company, has announced that it has enhanced its SaaS solution, Syncrofy, with new supply chain reporting and analytics functionality. The features enable buyers and suppliers to quickly identify and solve shipping, invoice, and order discrepancies before they impact the business.

The Syncrofy platform automatically aggregates and cross references data from multiple ERPs, warehouse planning systems, payment platforms, and more to give users a single view of what’s happening across the supply chain. Powered by real-time analytics, the platform enables customers to improve performance by providing:

  • Data-based evidence and insight to overcome chargebacks and simplify dispute resolution. Suppliers can proactively make operational adjustments in real-time to avoid penalties, and quickly and easily pull evidence from past shipments to contest fines and chargebacks when necessary.
  • Instant visibility into short shipments. Buyers can see when they are about to be short-shipped and proactively reorder or find a new source of supply before it impacts inventory levels and sales.
  • Automatic invoice, order, payment, and shipment reconciliation. Buyers ensure they only pay for what they order and receive, and suppliers ensure they get paid for what they ship.
  • Line-level visibility into orders, shipments, and payments. The platform automatically parses data and compares values line-by-line, saving everyone time and money.
  • Digitised buyer and supplier collaboration. Supply chain collaboration, efficiency, and performance improves with key data digitized and easily accessible to all parties.

 

Suplari launches procurement and finance solution 

Suplari has announced Agile Performance Management, its solution that it says enables 360° procurement planning of the spend, purchase order, suppliers, risk management, and diversity initiatives critical to drive savings and improved financial performance. Agile Performance Management enables clear visibility and cross-functional accountability of strategic goals built on connected and timely spend, purchase order, and contract intelligence extracted from a variety of enterprise systems. It also provides AI-based automated actions, results tracking, and rich collaboration tools for managers to achieve those goals.

By enabling users to Plan, Execute, and Measure their initiatives, Agile Performance Management aims to transform procurement performance across large organisations, in the following ways:

Plan. Create initiatives that are tied to real-time data, based on predictive insights.

  • Performance and goal setting - set your savings goals for the year or quarter, and stay top of your progress.
  • Planner - plan your projects and pipeline of savings to meet that goal in an agile/responsive way.
  • Executive performance dashboard - customisable dashboard for executive level visibility and drive accountability.

Execute. Suplari automatically executes plans leveraging automation for efficiency and consistency, and enables collaboration with team members. 

  • Automation - automate repetitive tasks and workflows, freeing up time for higher value activities.
  • Collaboration - collaborate with business stakeholders, including alerts, notification and direct participation for faster decision making.
  • Customisable workflows - best practices based workflows that can further be customised.

Measure.  Automated goal tracking enabled by normalised data across all integrated systems.

  • KPI/savings calculators - dial-in savings calculation formulas for various types of savings (e.g. hard vs soft) with frequency (one time vs recurring).
  • Savings Forecast - forward-looking savings forecast and amortisation with realised savings capture when the spend actually happens.

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