Global consulting group Accenture has invested in, and formed a strategic alliance, with Dublin-based TradeIX.
TradeIX uses technology to facilitate the flow of goods, services, transactions and information within a secure environment for global trade.
Its clients include BNY Mellon, Bank of America, BNP Paribas, Commerzbank, ING, Standard Chartered Bank, AIG, Oracle, and DHL.
As part of the deal, Accenture will work with TradeIX to bring to the market new use cases, beyond banking, to address the needs of buyers and sellers within trade finance.
Melanie Cutlan, managing director of blockchain services for Accenture Operations, said: “Building on TradeIX’s solid foundation across the banking community, this relationship will help companies unlock trapped value in data silos across key operational processes, such as finance, accounting and supply chain.”
The two companies will work together to develop touchless finance processes, such as procure-to-pay and order-to-cash.
This initiative will further expand the Marco Polo Network—a joint undertaking of over 30 leading banks, corporations and technology providers enabling simple, secured sharing of trade-related data between financial institutions and their corporate clients — to include buyers, suppliers, logistics and other entities.
Earlier this year Accenture acquired Cork-based Enterprise System Partners (ESP), a specialist adviser to the life sciences industry.
ESP provides services globally that allow life science companies to digitally track products and processes.
Source: Read Full Article