Taulia and Standard Chartered Sign MoU to Strengthen Working Capital Management and Financial Supply Chains
Taulia, a major provider of working capital solutions, and Standard Chartered have inked an agreement to collaborate on several working capital financing solutions, with an initial focus on supply chain finance and dynamic discounting. Following SAP's acquisition of Taulia, this is the first MoU that Taulia has signed with a banking institution.
Both sides will strive to offer supply chain finance and dynamic discounting solutions as part of the partnership, which will be facilitated by Taulia's market-leading front-end platform and deeply integrated technology.
When combined with Standard Chartered's global presence, particularly in emerging markets, trade finance expertise, and deep client relationships, the collaboration will assist clients in improving the resilience and sustainability of their supply chains by allowing their suppliers to gain access to working capital more efficiently and cost-effectively.
Standard Chartered and Taulia will collaborate to expand the reach of their working capital finance solutions across existing and new client networks, particularly multinational corporations that demand global and local expertise and support. This will be bolstered further by SAP's recent acquisition of Taulia, which will open up additional opportunities across SAP's growing ecosystem to provide a distinctive experience for buyers and suppliers.
Thomas Mehlkopf, Head of Working Capital Management CoE at SAP and member of the Taulia Leadership Team, said:
"We are proud to announce the signing of the MoU with Standard Chartered and this marks another milestone in Taulia’s journey to grow our bank network and work closely with our partners to deliver working capital solutions for all of our clients. We believe that all CFOs should focus on their cash strategy to ensure growth during these turbulent times, and our partnership with Standard Chartered will deliver cash when and where it is needed, especially in emerging markets.”
Kai Fehr, Global Head of Trade & Working Capital, Standard Chartered, said:
"Ensuring our clients are managing their working capital efficiently is a key priority in ensuring that their businesses grow sustainably, especially with the complexities and challenges in today’s supply chains. We are excited to work with Taulia to explore new and innovative ways to support our clients’ working capital needs, as well as extend the Bank’s leading sustainable trade expertise into their business network. Taulia’s footprint also complements that of the Bank, offering greater opportunities for us to support companies in the West with their supply chain flows into Asia, Africa and the Middle East.”