Deutsche Bank’s international cash management platform now provides GT Nexus with the ability to process payment flows in more than eight currencies by using the Bank’s branches in the US, UK and Hong Kong. The solution also includes a Payable on Behalf Of (POBO) structure in which GT Nexus can leverage the Bank’s payment architecture to drawdown on their network members’ accounts held at third party banks. This arrangement automates the supply chain transaction process for buyers.
GT Nexus operates a cloud-based business network and execution platform for global trade and supply chain management. Over 25,000 businesses across industry verticals, including Adidas Group, Caterpillar, Citi, Columbia Sportswear, DHL, Electrolux, Levi Strauss & Co., Nestlé, Pfizer and Sears share GT Nexus as their standard, multi-enterprise collaboration platform. This enables all network participants to operate across multiple supply chain functions, allowing them to optimize the flow of goods, funds and trade information, from the point of order through final payment.
Deutsche Bank provides cash management functionalities for corporates as well as financial supply chain expertise.
In recent news, GT Nexus has unveiled that Brooks Brothers has expanded its cloud supply chain strategy using the GT Nexus platform.
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