Agreement comes as corporates of all sizes search for effective, tailored working capital solutions
UniCredit has announced its collaboration with Taulia, a San-Francisco-based fintech that provides innovative, digital supply chain solutions for buyers and suppliers, including supply chain finance, cash forecasting, electronic invoicing, and dynamic discounting.
The partnership serves to round out UniCredit’s diverse toolbox of working capital solutions – building on its existing supply chain finance platform by incorporating the capacity to support greater numbers of suppliers with increased international reach, alongside seamless integration into corporates’ enterprise resource planning (ERP) systems.
UniCredit clients will have the flexibility to alternate between bank-funded (supply chain finance) and self-funded (dynamic discounting) early payment programmes. Through the Taulia platform, corporates will be able to build resilient supply chains by providing vital working capital stability and transparency to their suppliers.
Commenting on the announcement, Luca Corsini, UniCredit’s Co-Head of Global Transaction Banking, said: “We are delighted to be partnering with Taulia, with this initiative coming at a timely juncture. Supply chain resilience and working capital optimisation have become increasingly critical topics for many corporates in recent months, with more and more treasurers looking to execute their processes remotely. As ever, we remain fully committed to developing innovative and efficient solutions for our clients.”
“We are eager to work with UniCredit to extend Taulia’s offering across Europe to help clients digitise and free up working capital. We believe our partnership will make an immediate difference to corporates’ ability to manage liquidity in uncertain times,” added Michael Rieskamp, Managing Director EMEA, Taulia.
The agreement is the latest in a series of additions to UniCredit’s working capital management business. Taken together, these form a set of tools that address a wide range of specific client objectives – helping businesses improve both capital allocation and efficiency across their supply chains, whilst maintaining strong balance sheets and adequate day-to-day liquidity.