By 2020, about 1/3rd of all manufacturing businesses will implement analytics-driven cognitive capabilities in their supply chain, which will improve service performance by 5% and cost efficiency by 10% according to IDC. The organisation also estimates that 75% of large-scale manufacturers will integrate IoT and analytics to reduce the time taken to mitigate risks by the end of 2019.
These technologies and methodologies are all set to optimise supply chain finance and ensure businesses have funding throughout all stages of manufacturing.
Additionally, these financing options are the preferred option for numerous companies because they bring in transparency in the payment cycle of a business, improvise customer-supplier relations and reduce administrative cost.
Such advances bring with it multiple borrower-friendly features which cater to the financial requirements of the supply chain. Borrowers will also get to enjoy several benefits of collateral-free business loans. Additionally, procuring of the high-value loan amount of up to Rs. 30 lakh, easy-to-meet eligibility criteria, pre-approved offers, and nominal documentation are other features of these advances.
While such business loan from reputed NBFCs offers borrowers with such lucrative features, they also come with a competitive rate of interest and pocket-friendly EMIs. It is followed by a convenient repayment structure that is especially beneficial for seed-companies. The surplus amount so saved can be used to boost other aspects of a business and hence, increase the generation of revenue.
Thus, this easily accessible financial assistance involving a hassle-free application procedure and quick disbursal of sanctioned sum, makes this financial tool a preferred go-to option for most companies.