Scanco Software works as a warehouse manufacturing and a supply chain management solution for sage. It has now partnered with another digital B2B payments network, CoreChain Technologies.
This is teaming up aims to streamline the process of the B2B payments. A press release is surfacing about this new partnership.
This integration of the payment network of CoreChain with the software offerings of Scanco for B2B purposes will open up a new supply chain finning. It will continue to deliver a large range of opportunities.
Users can have the leveraging benefits with the enterprise blockchain tech to scale the manual processes and reconciliation. It slows down warehousing and business manufacturing.
With its help, B2B users can also mitigate the fraud and finance working capital that is held in unpaid invoices. These are often 30 to120 days in arrears.
“The CoreChain network is platform agnostic, which allows us to engage the entire supply-chain ecosystem, and ultimately, better serve our customers,” Scanco CEO Andrew Nunez said in the release. “While we are still focused on the Sage platform, our solutions cannot be confined by the boundaries of a single [enterprise resource planning (ERP)]. Our customers work within ecosystems, not applications. The CoreChain partnership is strategically important to our continued focus on expanding our business.”
The CEO and founder of CoreChain, Chris Aguas, said that this release would automate the payment process. It will help B2B equip companies for their future shift in enterprise payments.
“Innovation in the enterprise payments and finance space is moving at a break-neck pace, and warehousing and manufacturing businesses will need to adapt,” said Aguas in the release. “Scanco clients are going to be well ahead of the curve and ready for any sea changes that may occur.”
Companies have started to see the benefits of accessing B2B payments from a central platform. 65% of businesses with $25 million of annual revenues to $100 million have said that the lack of integration with ERP worked as a point of strife. It affected their shift to digital.
Now the ERP system can make things smooth for the accounts payable or AP and accounts receivable or AR.
It can further support the emergence of B2B payment use cases. Pairing up ERP with other technologies like automation or cloud can let the company access more benefits.
