Marco Polo ERP App Meets the Oracle NetSuite Suite Cloud Platform Development Standards and Documented Best Practices
3rd April 2019 (San Mateo/ London) – TradeIX announced today that its new Marco Polo ERP App has achieved the ‘Built for NetSuite’ status. Built using SuiteCloud, a comprehensive set of cloud development tools provided by NetSuite, the new SuiteApp enables customers to access multiple working capital finance solutions and finance their cash flow directly from within the NetSuite platform. Built for NetSuite is a program for NetSuite SuiteCloud Developer Network (SDN) partners that provides partners with the information, resources and methodology to verify that their applications and integrations, built using the NetSuite SuiteCloud Computing Platform, meet NetSuite standards and best practices. The Built for NetSuite program is designed to give NetSuite customers additional confidence that SuiteApps have been built to meet these standards.
The Marco Polo ERP App helps customers reduce administrative costs and risks in using working capital finance solutions as well as having access to a wider range of funding opportunities. The app integrates receivables, payables and inventory information and gives company access to the Marco Polo Network, the world’s fastest growing trade network. The Marco Polo Network includes leading financial institutions such as ING, Commerzbank, BNP Paribas, Anglo-Gulf Trade Bank, NatWest, Natixis, Bangkok Bank, Standard Chartered Bank, OP Group, SMBC, DNB, Danske Bank, LBBW, and Alfa-Bank.
“The launch of the Marco Polo ERP App together with NetSuite will have profound consequences for trade and working capital finance delivery,” said Robert Barnes, CEO of TradeIX. “The inclusion of NetSuite into the Marco Polo Network offers a superior customer experience for companies when accessing working capital finance.”
With the rising need for simple access and efficient management of trade and working capital finance, the Marco Polo ERP App is primed to become a key solution for organizations to inject liquidity in their supply chain and optimize their Days Sales Outstanding (DSO) or Days Payable Outstanding (DPO) metrics. The Marco Polo ERP App, developed by TradeIX, leverages blockchain technology by R3 and open APIs.
“There is significant complexity in the financial supply chain and this often results in underlying trade and finance data being trapped in different siloed systems,” said Scott Derksen, senior director, Platform Market and Business Development, Oracle NetSuite. “Now organizations can access and manage their working capital by integrating multiple financing program/products and then directly connect with financial institutions all within NetSuite.”
“As one of the members of the Marco Polo Network, the introduction of the new Marco Polo ERP App makes it much easier to access trade finance for SMBC’s corporate clients. On the other side, it also allows members of the Marco Polo Network to provide trade finance solutions to the growing number of users of Oracle NetSuite’s ERP solution,” said Kazuo Yoshimura, general manager and global head of supply chain finance, Global Trade Finance Department, SMBC.
TradeIX, is an award-winning technology platform provider and network operator driving innovation and driving change in facilitating the flow of goods, money, and credit in the $8 trillion trade finance market. Its distributed TradeIX Platform is delivered to the corporate clients of the Marco Polo member banks via ERP-embedded applications. The distributed TradeIX Platform is enabling the Marco Polo Network, the world’s fastest growing trade finance network.
Some of the smartest financial institutions and companies in the world work with TradeIX, including ING, BNP Paribas, DHL, AIG, Oracle, and many other Fortune 500 companies from various industries. TradeIX is headquartered in Dublin with offices in London, Kettering and Singapore. For more information visit: www.tradeix.com.
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