Today we bring you a new page of our Ithium100 product, Order financing and supply chain traceability in blockchain.
In the last year, GodEnigma has carried out various pilots that have allowed us to validate the market and verify that there is indeed a market for this type of application. Today Ithium100 is already in production and provides value for various business chains, facilitating the financing needs of suppliers and improving the risk for customers. In addition, it adds value to banks and financial institutions, allowing them to offer loans in the initial periods of the purchasing processes.
Suppliers, with payment terms many times over 100 days after the invoice is issued, face two major problems:
1. How to deal with the manufacture of products or provision of materials or services to start managing an order for which they need to anticipate funds with their current cash flow. At this point, there are few alternatives in the financial market to obtain financing if not with an invoice issued, but many times from the moment the purchase order is received, months pass until the first invoice is issued. Ithium100 comes to solve this problem
2. How to verify and have a verification and validation system that orders are delivered so that the supply chain has confidence that the customer validates the receipt and accepts the delivery, with the consequent issuance of the invoice. Today there are certifications, delivery notes, etc., but still they are often paper-based processes that can be revoked or thrown back. Ithium100 comes to certify in blockchain each step that is taken, and that if a company changes an order's status, this action is certified and therefore valid from that moment.
Here is a short video presentation of Itium100 - Financing and traceability of supply chains:
- May 2019
- May 2018