Deutsche Bank and General Mills (Hong Kong) win Best Supplier Relationship Management in Hong Kong Award for unlocking working capital and supporting Asian suppliers in a complex regulatory framework

Complex regulatory framework obstructed the potential to unlock working capital in Asia

With well-established supply chain finance programmes in both Europe and the United States, General Mills was looking to establish a similar supply chain finance programme in Asia. The complex regulatory and operational framework of Asian countries required a much needed and careful assessment on its part to reach decisions regarding the selection of a service provider and readiness of subsidiaries to dedicate resources for different country launches. In a nutshell, General Mills was seeking a local currency FSC solution to unlock the working capital potential in countries including China, India, Korea, Hong Kong, Thailand, and Singapore. It was also looking to fund its group of suppliers in Asia, and ultimately achieve scalability of the programme across each individual market.

Deutsche Bank’s strong regional presence and state-of-the-art electronic platform met General Mill’s needs

The bank utilised its strong regional presence, network, and experience in meeting supply chain financing needs in an efficient manner. Deutsche Bank was able to automate the end-to-end flow for General Mills using its state-of-the-art platform - DB-Ebills. The platform allows the solution to be end-to-end scalable from file upload to discount made by suppliers. To meet local currency financing requirements onshore, the bank set up individual programmes in each location leveraging H2H connectivity and exceptional resources spread across global and regional implementation teams.

The bank established an automated Supply Chain Finance solution to meet total needs

Deutsche Bank’s expertise in understanding local regulations and close links with local regulators ensured the legitimacy and compliance of the programme. The programme, a paperless one had minimal impact on General Mills’ existing workflow and processes given the end-to-end electronic access. Dedicated supplier onboarding specialists in each Asian location ensured maximum rate of supplier up-take. Stability of the programme was ensured as the programme is operated on the same platform across countries, with the flexibility to include new entities. A thorough assessment of client’s supplier portfolio was also conducted to provide effective recommendations on future payment terms.

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