Executive Lunch: FinTech Innovation – Tradeshift Cash
Join Tradeshift for an exclusive lunch at Ruth's Chris Steakhouse in Rogers, AK. Featuring a presentation by Dave Georger on Tradeshift Cash Direct.
New FinTech offering for early payment – Tradeshift Cash Direct
Tradeshift is the only firm in our space on the Forbes FinTech 50 – The Most Innovative Fintech Companies In 2019
Join Tradeshift for an exclusive lunch, featuring a presentation by Michael Lomax, Senior Executive – Global FinTech Success at Tradeshift. Traditional early payment options required organizations to either secure a bank facility (Supply Chain Finance) or use their own liquidity (Dynamic Discounting). They were focused on enhancing working capital, a higher return on cash and lowering supply chain risk. These programs took significant time to ramp up, and produced mixed results. Many factors contributed to this, including legal requirements, manual supplier onboarding and once live the requirement for an approved invoice to discount payment. In addition, while these traditional programs have helped high value, strategic suppliers, the remaining “long tail spend” suppliers were ignored due to lack of scalability. There are still $9Tn in trade assets on supplier balance sheets as Receivables, globally. Banks and other FIs only intermediate on roughly 10%-20% of outstanding Receivables.
The financial services industry is being disrupted by new technology that will completely transform economies and the way we do business globally. There are massive inefficiencies, analog prophecies, and technologies that will need to become digital over time. Staying ahead of the curve and your competition is paramount, and to do so you must make your payment processes digital by default moving forward. In this innovation luncheon, Mike will focus on:
- FinTech and Early Payments – what’s new and looking to the future
- How new forms of early payment can fund important initiatives; Supply Chain Diversity, Supply Chain Sustainability, etc.
- Embracing the digital transformation for your professional growth
- Creating a 5 year plan for Finance
Ruth Chris’ Steakhouse
Meet the Speaker
|Michael Lomax, Senior Executive, Global FinTech Success
Mike Lomax is a Senior Executive, Global FinTech Success, who recently joined the Tradeshift team because he understands the importance of connecting and collaborating with all suppliers to gain maximum benefit from FinTech solutions. Mike is very well rounded and has demonstrated success in all aspects of global supply chain management. Prior to joining Tradeshift, he spent 13 years in supply chain finance related capacities with the largest Trade Banks in the world, including HSBC Bank, Bank of America, and JPMorgan Chase. Earlier in his career, Mike worked in various logistics and trade compliance capacities from transportation to Customs brokerage. Mike lives in Park City, UT where he enjoys outdoor activities year round.
Meet the Host
Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com.