Client Background
One of the largest European multinational financial services organizations aimed to enhance their trade finance and invoice payment processes by integrating their banking systems with their customers' NetSuite ERP for improved automation and usability.
The Challenge
The client was dealing with manual, fragmented processes for requesting post-shipment buyer and seller loans against outstanding AR/AP invoices, which were time-consuming and inefficient. Additionally, the lack of integration with customers' Oracle NetSuite ERP made it difficult to streamline transactions and fully utilize the existing ERP system.
Collaboration
Xoriant provided a Xonnect-based application that seamlessly integrated customers’ Oracle NetSuite ERP with their banking accounts. This solution automated invoice payments and post-shipment buyer and seller loans through API-driven integration and banking-as-a-service. The app was easily deployed and hosted on the NetSuite Cloud Marketplace, simplifying the integration process for customers.
The application featured automated accounting workflows to enhance efficiency and accuracy, along with in-built file storage, authentication mechanisms, and comprehensive reporting. Additionally, it supported webhooks for external integration and ensured secure end-to-end data encryption for all communications.
Business Outcomes
Xoriant's innovative solution significantly enhanced the client's trade finance and invoice payment processes. The integration improved user experience and data accuracy within the ERP, increased operational efficiency, and enabled faster extraction of trade finance information. This led to higher transaction volumes, a rapid increase in customer footprint, higher ROI, and a faster time-to-market.
View Previous CS
