Logistics company awarded for finance solution

LOGISTICS company Kuehne + Nagel has been awarded the transport and logistics award during the Supply Chain Finance Awards in Amsterdam. Kuehne + Nagel was said to have leveraged its current Tradeshift e-invoicing platform by adding a supply chain finance layer on top. The platform now is said to provide transparency on invoice status as well as access to all SCF-related information. K + N chief financial officer Markus Blanka-Graff said their supply chain finance solution significantly improved the cash-conversion-cycle of suppliers. “This award is a great recognition of Kuehne + Nagel’s efforts to create benefits for all parties by improving its invoicing processes,” Mr Blanka-Graff said. Group treasurer Roger Sutter said supply chain finance was mostly about speed. “It was our ambition to provide our suppliers with an early payment solution which is fast and convenient,” he said. “We decided to integrate SCF in the existing e-invoicing platform. We thereby considerably improve processing times and allow fast payments in a simple way.”