As part of a multi-year effort to transform trade finance, Bank of America is launching CashPro Supply Chain Solutions, a platform that will offer participants in a supply chain the benefits of digitisation with improved process efficiency and working capital optimisation. CashPro is the banking platform used by more than 40,000 business clients to manage their treasury and trade operations.
Open Account Automation, the first module of CashPro Supply Chain Solutions, addresses invoice approval and payment, one of the most common processes in global trade. This module speeds up the time to approve an invoice from what was often days or weeks to a matter of minutes.
